The stock of modern retail spaces in Romania has exceeded the level of 4 million square meters after the latest deliveries of shopping centers, but the market development pace will slow down in the next period, according to real estate consulting company Cushman & Wakefield Echinox.
In the last three months, two important projects have been completed: Dâmbovița Mall, the first modern shopping center in Târgoviște, developed by Prime Kapital and MAS Real Estate and AFI Palace Brașov, part of a mixed project that also includes office spaces.
Analysed based on its components, the shopping center has a leasable area of 45.000 sqm, while the first stage of the office project has 15.000 sqm.
As a result of these deliveries, the total stock of modern retail spaces in Romania reached 4.03 million square meters, reflecting an average density of 200 sqm / 1.000 inhabitants.
The stock includes shopping centers (57% of spaces), retail parks (36%) and shopping galleries (7%).
The most important projects currently under construction and whose delivery is planned for 2021 are the expansion of the Colosseum shopping center in the northwest part of the Capital, the first phase of the Fashion House Outlet Center Pallady outlet mall developed by Liebrecht & wooD and Sepsi Value Center in Sfântu Gheorghe, these three projects totaling a leasable area of about 40.000 square meters.