Affan Yildirim, General Manager, member of the Board of Directors of Anchor Grup, and member of the Board of Directors of MallDova, talked to Property Forum about the trends shaping the Romanian retail market and the investments made in București Mall over the past 25 years to accommodate evolving demands of tenants and shoppers.
How did Anchor Grup’s investment in the first Romanian mall shape the development of the retail market?
Anchor Grup's investment in București Mall was a pivotal moment for the retail market in Romania. As the first modern shopping centre in the country, it introduced a new standard for the industry, attracting international brands and reshaping consumer behaviour, expectations and needs.
Also, it paved the way for other large-scale retail investments, as it demonstrated the potential for similar developments in a growing economy.
The mall not only provided a diverse range of shopping options but also introduced a new concept of leisure and entertainment for the local community.
Also, București Mall's presence has played a vital role in shaping the city's retail landscape, fostering economic growth, and creating employment opportunities. Furthermore, as a hub for social interaction and cultural exchange, the mall has enriched the frame of Bucharest, contributing to its vibrancy and appeal as a cosmopolitan city.
Affan Yildirim
General Manager and Board Member
Anchor Grup Romania
What have been the elements that have sustained the growth of București Mall throughout the years?
The continued growth of București Mall can be attributed to a few key factors: consistent investment in upgrades, maintaining a fresh and relevant brand mix, and a deep understanding of consumer trends. We have always focused on creating a well-rounded experience for our customers, combining retail with leisure and entertainment options.
Our ability to adapt and innovate, in response to both market trends and shopper expectations, has been crucial in sustaining long-term success. The mall's strategy has been centred around providing a convenient, quality, and efficient shopping experience, positioning itself as a preferred one-stop-shop destination for a wide range of customer needs.
How important was the successful opening of București Mall in Anchor Grup’s next investments based in Bucharest?
The opening of București Mall provided the foundation for our future projects, demonstrating the potential for retail and mixed-use developments in Bucharest. As the first modern shopping centre in Romania, it not only revolutionized the profile market but also proved that there was a strong demand for large-scale commercial developments in the capital.
București Mall served as a proof of concept, showing that a well-executed retail development could thrive in Romania. The knowledge and experience we gained from launching and managing this project allowed us to move forward confidently towards other ventures, encouraging us to explore also mixed-use developments. It enabled us to develop Plaza România, another key retail destination, and expand into residential projects, such as InCity Residences, Pallady Towers, Select Residences and into office buildings, Anchor Plaza and Plaza România Offices.
Each of these developments benefited from the learnings and best practices derived from the launching of București Mall, from construction and tenant management to community engagement and customer experience.
The lessons from this first project also helped us adapt to evolving market trends, ensuring that our investments remained resilient and aligned with the growing needs of the city's residents and businesses. Furthermore, with the success of București Mall, Anchor Grup became a trusted name in the Romanian real estate market.
How did the structure of your tenants at București Mall change in these years? What segments were popular in the initial years compared to now?
In the early years, the focus was primarily on fashion and traditional retail, with a few experience options. Over time, we have diversified the tenant mix to reflect the changing demands of our consumers. Now, along with fashion, there is a stronger presence of food and beverage brands, technology and lifestyle stores. We have also seen a rise in experiential retail, where customers seek unique, interactive experiences, which has influenced our approach to leasing.
The introduction of exclusive and sought-after brands after rigorous selection was the key to attracting and retaining customers while staying abreast of the latest trends. The permanent expansion of the retail portfolio underlines Anchor Grup's stability, but also its contribution to market growth. As new brands and concepts have been brought into București Mall, the mall has managed to reinvent itself and remain relevant for its target audience.
What is your current strategy for București Mall and how important is the brand for shoppers?
Our strategy for București Mall focuses on enhancing the customer experience through continuous investment in modern facilities, and a great retail mix. We aim to keep the mall relevant by staying ahead of consumer trends and offering a diverse mix of local and international brands.
For our shoppers, București Mall is more than a shopping destination—it is a lifestyle hub that offers convenience, quality, and an engaging environment.
București Mall has successfully adapted to meet the needs of diverse customer categories, catering to families, youth, seniors, and various other segments. Being a one-stop-shop destination, every consumer manages to find whatever one needs, regardless of tastes and preferences. We have a wide range of tenants that offer dedicated products for each demographic category. Our adaptability has been demonstrated through a diverse tenants' mix, family-friendly amenities, and inclusive programs that appeal to a wide demographic.
What is your outlook for the retail market in Bucharest going forward? Are there certain trends in the sector?
The retail market in Bucharest is evolving rapidly, and we are seeing several key trends that will shape its future. One major trend is the increased demand for experiential shopping.
Customers are no longer just looking for products, they want an engaging and memorable experience. This has led us to focus on creating lifestyle destinations, where shopping is combined with lifestyle, dining, and relaxation. Another trend is the growing emphasis on sustainability. Consumers are becoming more aware of environmental impact, and we are seeing a shift towards eco-friendly practices, from the brands in our malls to the operations we manage.
We expect these trends to continue influencing the market, and we are proactively adapting to meet our shoppers' expectations.
In terms of leasing, București Mall has strategically aligned its approach to the latest trends in the commercial retail market. The mall is investing in advanced technologies to create smart, efficient environments. These enhancements focus on optimizing energy use, improving security, and personalizing tenant experiences.
At the same time, reflecting the trend toward mixed-use spaces, București Mall continues to develop areas that combine retail with other functions such as dining, working and entertainment. This approach enhances convenience and creates vibrant, community-oriented environments that appeal to a broad range of tenants and visitors.
Customers are looking for memorable shopping experiences, and București Mall has started to attract tenants that can offer such activities, quality gastronomy and personalized services, adding value and helping increase its appeal to visitors.
What are Anchor Grup’s future plans for the local market?
Anchor Grup has significantly contributed to the country's retail and real estate development. Looking ahead, we plan to consolidate our presence in the local market. We are committed to sustainability and innovation, and we want to prioritize this sector. Romania remains a key market for the company, and we are excited about the opportunities in the years to come.
