Romania’s retail market could top 4.5 million sqm this year considering that around 185,000 sqm of new retail projects are under various construction and planning stages, according to CBRE data.
The biggest shares of new supply are located in Bucharest or in its proximity, followed by Iași, Cluj, Brașov, and Timișoara. The largest delivery this year will be in Pitești, where Prime Kapital will open in April Argeș Mall, which has a leasable area of 52,100 sqm.
"Whether the modern stock of retail space will exceed a new perceptual threshold and it could sound impressive still it is not enough, as many international retailers are interested in entering the Romanian market, and the demand for large areas has been increasing," said explained Carmen Ravon, Head of Retail Occupiers at CBRE.
Bucharest is leading the market with the biggest monthly prime rents for shopping centres at €80 per sqm. Cluj-Napoca has the biggest rents of all regional markets at €70 per sqm.
Looking forward, retail parks will continue to drive investment due to lower investment costs and shorter delivery periods.
