The total stock of retail park spaces in Romania will exceed the supply of commercial spaces located in shopping malls if the current investment activity continues, according to a report by real estate consultancy Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance.
Retail parks have reached a market share of 42%, malls have decreased to 53%, shopping galleries are at 4%, and outlet centers are at only 1% at the end of the first semester of 2022.
“Investors have announced projects totaling over 500,000 sqm in the next three years, most of them retail parks type,” said Nicolae Ciobanu, Managing Partner - Head of Advisory Fortim Trusted Advisors.
He added that the most sustainable and prosperous developments turn out to be the schemes of retail parks delivered in secondary cities, where the price of land is lower compared to the top 10 cities.
Bucharest has the biggest stock of modern shopping centres with 1.1 million sqm, while in five large regional cities the average surface ranges from 131,500 sqm to 219,500 sqm.
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