New Romanian retail park developments delivery increases fourfold

In 2019, before the Covid-19 pandemic, investors delivered 62,890 sqm of retail parks. Investors continued to deliver developments throughout the pandemic, increasing exponentially in the number of retail parks and tacitly with a total area of new spaces delivered in shopping centers: 92,800 sqm in 2020, 124,700 sqm in 2021, and a record area of 256,646 sqm expected this year.

In addition, the number of communities where developers have opened modern retail centers has more than doubled. By the end of this year, the Romanian market will have 48 locations where a modern retail park will be built.
Retail parks in new residential areas, in satellite communities near major cities, are a novel concept.

In 2022, the key developers in the retail parks segment are Prime Kapital, NEPI, Rockcastle, Scallier Investments, Oasis Retail Development & Consulting, Mitiska REIM, Iulius Group, Synergy Construct, Impact Developer & Contractor, and Supernova.

"In Romania, the total stock of spaces in the segment of retail parks will exceed the supply of commercial spaces located in shopping malls if developers continue on the same trend. Investors have announced projects totaling over 500,000 sqm in the next three years, most of them retail parks type," says Nicolae Ciobanu, Managing Partner - Head of Advisory Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance.

In first place in terms of the stock of modern commercial spaces is Bucharest, second place Timisoara, third place Cluj-Napoca, third place Iasi, fourth place Constanta, and fifth place Brasov, according to the study At a Glance H1 2022 Retail Market, conducted by Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance.