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The modern retail stock in Romania is of 3.2 million sq m at the end of 2015, with Bucharest and Transylvania accounting for over 60%. The amount includes shopping centres, retail parks and the only operational outlet centre. Coresi Shopping Resort in Brasov and Mega Mall in Bucharest accounted for approx. 70% of the completions recorded during 2015.

Four extensions were completed in 2015, totalling over 23,000 sq m comprising of: Shopping City Deva, Severin Shopping Centre, AFI Palace Cotroceni  and Carrefour Colentina. 

Given the number of the under construction schemes it is expected that by the end of 2016 the stock will reach 3.4 million sq m and 3.6 million sq m by the end of 2017.

The pipeline is sustained by major cities like Bucharest, Brasov, Constanta and especially Timisoara, with tertiary cities like Piatra Neamt or Satu Mare to register new modern retail investments in the near future.

NEPI is the main player on the market with 60% of the completions from 2015 and 50% of the pipeline for 2016.  

2015 was a record year with over 35 new names entering the market, some of the most important new comers are: Michael Kors, Marc Cain, New Era, Mango Man, Tally Weijl, Liu Jo, Bobbi Brown, Debenhams.

The investment activity in 2015 was rather low accounting for only 20% of the total investment volume. The largest transaction was the sale of Auchan Titan Shopping Centre by Degi to NEPI for EUR 86 million. Within this particular sector there were also distressed sales or bank reposessions. Still the market has a big potential taking into account only the completions from 2015 and the pipeline from 2016 - 2017.

Bucharest represents a special chapter given the higher purchasing power registered here compared to the rest of the country. After the completion of Veranda Shop&Stay and Parklake, only the North-Western area of the Capital might be able to host a large retail scheme.

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Romanian Leu (RON)
EUR €0.21
USD $0.26
GBP £0.19


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