Romanian retail space expects a huge increase over next 4 years

Real estate developers are moving forward with the expansion of retail project portfolios in Romania, so in the next four years are announced spaces with an area of over 500,000 sqm, of which ten planned projects exceed 10,000 sqm each, according to the Bucharest Retail Market and Romania Retail Regional Cities reports by Cushman & Wakefield Echinox.

"Almost all the developers present on the local retail market have announced ambitious investment plans for the next period, proving once again their confidence in this real estate segment. For the next few years, we see a diversification of the formats they intend to bring to market, with new investments targeting both mall and retail park projects,” says Bogdan Marcu, Partner, Retail Agency, Cushman & Wakefield Echinox.

Currently, in Bucharest spaces totaling 48,400 sqm is under construction, respectively the extension of Promenada Mall in the Barbu-Văcărescu - Floreasca area, Lemon Retail Park in Voluntari and Greenfield Plaza.