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The expansion of Veranda shopping center in Bucharest is expected. Image: Golin

Actual data from Romania

The modern retail stock in Bucharest remained constant in 2018, at 1.2 million sq m. This level is 7% higher than in the Central-West region of the country, which reached 1,18 million sq m, and double the stock of the region of Moldova, which reaches 595,000 sq m.

This data is according to the actual „Bucharest Retail Market and Romania Retail Regional Cities reports“, launched by Cushman & Wakefield Echinox. A fourth analyzed region is the South of Romania, where the modern retail stock has 735,000 sq m. Therefore the total area of ​​malls, retail parks and commercial galleries at a national level is situated at 3.65 million sq m, resulting in a density of 191 sq m / 1,000 inhabitants.

Considering the projects currently under construction, deliveries of commercial spaces will accelerate this year up to 140,000 sq m, while Sibiu, Timişoara and Bucharest will attract 70% of the deliveries. The Festival Centrum and the extension of Shopping City Sibiu will be delivered in Sibiu, the Iulius Mall project will be expanded in Timisoara, while the expansion of the Colosseum and Veranda is expected in Bucharest. New modern commercial spaces will also be delivered in Zalău, where the Zalău Value Center project is expected to be inaugurated, and also in Satu Mare and Buzău, where existing projects will be expanded.

In 2019, the most active developers will be NEPI Rockcastle, Iulius Group and Prime Kapital, three of the biggest developers and owners of commercial space on the local market.