globe retail outlook data

 

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Romania

In the first semester of 2018 the modern retail stock reached 3.48 million sq m out of which the shopping centre sector accounted for approx. 60%, followed by retail parks sector with over 39%.

In terms of openings, the first part of 2018 registered only one new scheme - Bistrita Retail Park, resulting a lower figure (meaning a -16% decrease) even compared to the same period of 2017.

2018 is going to register a significant amount of modern retail space, up to 200,000 sq m (55% increase compared to 2017), while in 2019 and 2020 some other 330,000 sq m are to be delivered on the market (with over 160,000 sq m each).

The local consumption figure (for both household and individual level) is boosted by the  highest GDP growth rates within EU and also by the recent increase of salaries by the Government.

So far 2018 has also seen new retailers (Vicco, Hugo Boss, Esquires Coffee, S-Karp, TAG Heuer, s.Oliver, comma, Volkswagen concept store) entering the market, a trend similar to the one registered during the past years. Leases were signed for premises located exclusively within shopping centres in Bucharest, with the notable exception of the first Momax store in Romania, part of XXXLutz, opened as a standalone unit in Timisoara.

NEPI is still the biggest owner and also the most active developer on the market, focusing  mainly on secondary and tertiary cities (at least 70,000 sq m under construction for 2018 - 2019). Another regional player with a remarcable activity in Romania is Prime Kapital that has a pipeline totalling over 200,000 sq m for the next three years that includes both shopping centres and retail parks located throughout Romania.   

Currently, there are approx. 150,000 sq m under construction in cities like Baia Mare, Brasov, Targu Mures, Roman, Satu Mare, Targoviste (new schemes) or Craiova, Sibiu and Timisoara (extensions).

The extensions have become rapidly a feasable solution for the shopping centre owners with schemes located throughout the country, in order to maintain or even gain market share.

There is a significant gap betvween the Capital and the major cities outside Bucharest in terms of extensions: 60,000 sq m versus 117,000 sq m when looking to 2018 - 2020.  These figures are subject to changes given the need to cope with the local market’s trends.  

Out of the total modern retail stock of 3.48 million sq m, over 63% is operational since 2009. This particular figure includes some 1.5 mln. sq m located in the regional cities and some 700,000 sq m operational in Bucharest. These numbers include both shopping centres and retail parks that are in need to be refurbished in order to be able to compete with the ones opened during the past years. 

New deliveries will be focused mainly outside Bucharest on secondary and tertiary cities. The Capital will register a low activity during 2018 - 2020 with only 80,000 sq m (mainly extensions) compared to the cities outside Bucharest that will account for more than 280,000 sq m during the same time.

Our Top Tip For
New Arrivals

For tourists - to try to experience locations outside Bucharest

For retailers -to start the expasion with Bucharest and the main cities, especially the top schemes in terms of size, sales and footfall; to cope with the local flavour which includes a Latin-type mentality.

 

Currency

Romanian Leu (RON)
EUR €0.21
USD $0.25
GBP £0.19

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International Dialing Code

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Time Zone

Cost of a Pair of Jeans

85.00 RON

Cost of a Cup of Coffee

1.80 RON

Cities in Romania

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LUIZA MORARU
Europe House
47-53 Lascar Catargiu Blvd
+40 72 435 7368 | luiza.moraru@cbre.com