Volume of retail projects delivered in 2022 was the lowest since 2014

by   CIJ News iDesk V
2023-03-21   13:30
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2022 was marked by few deliveries of new modern retail projects, with completed surface half of initial estimates, but 2023 could set a decade-long record for the sector, based on scheduled deliveries, according to Colliers.

Last year, deliveries of modern retail space totaled just 77,000 sqm, a substantial drop compared to the 102,000 sqm recorded in 2021. In 2023, however, deliveries of approximately 260,000 sqm are scheduled, the most effervescent period in terms of new projects since 2011.

The largest project delivered in 2022 was the expansion of Colosseum Mall in Bucharest (16,500 sqm), followed by Scallier's Funshop Retail Park in Timisoara (10,800 sqm).

Currently, Romania has a total stock of modern retail of approximately 4 million sqm, of which over 2.7 million sqm are traditional shopping centers, and the rest are mainly retail parks.