The pandemic had a limited impact on the turnover of retail parks compared to shopping malls in Romania, according to real estate consultancy Cushman & Wakefield Echinox.
In 2020, the turnover of retail parks shrank by 9.5%, while for shopping centres the drop stood at 20.6%.
“Our analysis confirms the market sentiment regarding the performances of modern retail projects, more specifically the retail parks which have managed to significantly reduce the losses caused by the pandemic and also by the restrictions adopted to combat it,” says Vlad Săftoiu, Research Analyst at Cushman & Wakefield Echinox.
The health crisis generated overall losses of around €112 million in the revenues of retail projects throughout 2020 compared to the previous year.
The financial analysis took into account over 60 modern retail projects in Romania.
