With scheduled retail deliveries of around 260,000 sqm across Romania, this year may turn out to have the heaviest pipeline calendar since 2011, which would add to the existing stock of more than 4.1 million sqm, according to real estate consultancy Colliers.
This year, the biggest single delivery will be NEPI Rockcastle’s Promenada Mall Craiova, which will have a leasable area of around 64,000 sqm. Meanwhile, the development of retail parks will continue in smaller cities due to the higher flexibility of these projects, especially on the tenant mix.
“Other types of schemes are also gathering steam, with strip malls and smaller convenience centers quite attractive,” says Liana Dumitru, Director Retail Agency at Colliers.
Meanwhile, Romania’s retail market remains undersupplied compared to other countries in Central and Eastern Europe.
For a similar consumption level (in terms of volume) to Czech Republic and Poland, Romania’s modern retail stock per capita is two times smaller than the Czech market and more than 40% behind Poland’s sector, according to Colliers’ data.
