Four modern retail projects were delivered in the first half of the year, with a total area of 30,000 sq.m GLA in small towns of Giurgiu, Călărași, Dej and Vaslui, according to data from Cushman & Wakefield Echinox.
The four projects delivered in H1 2023 were Funshop Park Vaslui (10,000 sq. m), Retail Park Dej (7,000 sq. m), Shopping Park Giurgiu (7,000 sq. m), and Irimia Shopping Center Călărași (6,000 sq. m), an investment finalized by a local businessman.
With a modern retail stock of 4.23 million sq. m, Romania is the third-largest market in Central and Eastern Europe, after Poland (with a stock of 16 million sq. m) and Czechia (with 4.5 million sq. m).
Ten projects with a total area of close to 260,000 sq. m are expected to be delivered in H2 2023, four of them having more than 25,000 sq. m GLA
These include Promenada Craiova (78,500 sq. m – a shopping center, a retail park, and a Dedeman store), Prima Shopping Center Sibiu (70,000 sq. m), Alba Iulia Mall (29,000 sq. m), and AFI Park Arad (29,400 sq. m) owned by AFI Europe.
60% of the retail spaces due to be delivered in H2 are in retail parks, with the rest in shopping centers. As a result, 2023 is primed to set a record level of retail deliveries in Romania since 2008, as the total stock will surpass the 4.5 million sq. m threshold by the end of this year.