Around 100,000 sqm of new retail spaces should be completed during 2022 in Romania, of which more than 80% are located in retail parks, according to a report by real estate consultancy Cushman & Wakefield Echinox.
The expected stock size is similar to the one delivered last year when most projects were delivered in cities with less than 150,000 inhabitants.
The 16,500 sqm extension of Colosseum Mall in Bucharest is the only shopping center that will be completed in 2022, thus becoming the first such scheme delivered in Bucharest after six years.
In addition, Scallier, Prime Kapital (in joint venture with MAS Real Estate), Square 7 Properties – Mitiska, and Iulius Group have the biggest retail development pipeline in the country.
“Considering that the main targets for new projects in 2022 will once again be the cities with less than 150,000 inhabitants, and retail parks will be the dominant format, we might see a return of the focus towards large cities and shopping centers starting from 2023,” said Bogdan Marcu, Partner, Retail Agency, Cushman & Wakefield Echinox.
The biggest delivery of 22,500 sqm will be Shopping Park Pitesti, developed by Square 7 Properties – Mitiska.
