Romania\u2019s modern retail stock reached 4.62 million sqm in 2024, with around 180,000 sqm of gross leasable area (GLA) delivered during the year. While this marked a 15% decrease compared to 2023, it was still one of the strongest years for new retail completions in the past decade, according to real estate consultancy Cushman & Wakefield Echinox.<\/p>\n
A total of 14 retail projects were completed, including both new developments and extensions of existing schemes. Retail parks accounted for 64% of the new supply, with the remainder being shopping centers.\u00a0<\/p>\n
Among the cities benefiting from these investments were Pite\u0219ti, Ploie\u0219ti, Giurgiu, Crevedia, Hunedoara, Bistri\u021ba, Sinaia, and R\u00e2mnicu V\u00e2lcea. In Bucharest, the most significant project was the 25,700 sqm Jumbo Center, a full refurbishment of the former Liberty Center.<\/p>\n
The largest retail project of the year was Arge\u0219 Mall<\/strong> in Pite\u0219ti, a 51,400 sqm development by Prime Kapital – MAS Real Estate. Other notable completions included Shopping Park Pite\u0219ti (22,500 sqm, developed by Mitiska REIM – Square 7 Properties) and Aurora Retail Park Giurgiu (13,000 sqm, owned by Cometex).<\/p>\n According to Cushman & Wakefield Echinox, the retail sector continues to show growth potential, with more than 700,000 sqm of GLA either under construction or in the planning stage, set for completion by 2028-2029. Cluj-Napoca, Ia\u0219i, Bac\u0103u, Gala\u021bi, and Bucharest are among the key locations targeted for new investments.<\/p>\n Dana Radoveneanu, Head of Retail Agency at Cushman & Wakefield Echinox, stated: \u201cThe Romanian retail market remains attractive for both retailers and developers, despite the local and European macroeconomic pressures. The recent deliveries of modern retail projects and the robust long-term pipeline underscore the market\u2019s potential. Whether we are referring to smaller retail parks in emerging cities or to large urban regeneration projects, there is a clear upward trajectory of this market segment.\u201d<\/p>\n In terms of rental prices, prime shopping center rents in Bucharest stabilized at EUR 90 per sqm per month in the fourth quarter of 2024. In secondary cities such as Cluj-Napoca, Timi\u0219oara, Ia\u0219i, and Constan\u021ba, rents remained between EUR 50 and EUR 65 per sqm per month, while tertiary locations recorded levels of EUR 30-35 per sqm per month.<\/p>\n irina.marica@romania-insider.com<\/p>\n (Photo source: Primekapital.com)<\/p>","protected":false},"excerpt":{"rendered":" Romania\u2019s modern retail stock reached 4.62 million sqm in 2024, with around 180,000 sqm of gross leasable area (GLA) delivered during the year. While this marked a 15% decrease compared to 2023, it was still one of the strongest years for new retail completions in the past decade, according to real estate consultancy Cushman & […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3508","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/3508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3508"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/3508\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}