about us | newsletter | contact | archive | members area
RADU BURNETE, FIC
We do not want to think what would happen to the economy if a city like Bucharest would »
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Modern retail stock in Bucharest reached 1.2 million sqm, says DTZ

The modern retail stock in Bucharest reached 1.2 million sqm at the end of 2016 and consists especially in shopping centres (56 per cent) and retail parks (33 per cent), while commercial galleries cover the remaining 11 per cent, according to real estate consultant DTZ Echinox.

2017-02-02 16:03:50

Last year new supply reached 98,500 sqm, after the openings of Parklake Plaza and Veranda Shopping Center and the extension of Militari Shopping retail park.

The general vacancy rate stands at four per cent. While dominant shopping centres are fully occupied, projects located in third, fourth and fifth districts inflate the vacancy rate.

The average density of modern retail space reached 650 sqm / 1,000 inhabitants. First District of Bucharest, which is also the wealthiest, has the highest density, with 961 sqm / 1,000 inhabitants, but also the highest occupancy rate (99 per cent) and the highest headline rent, with 75 euro per sqm / month.

The sixth District of Bucharest continues to have the largest retail stock, with 301,800 sqm, while the third District advanced on the second position after the opening of Parklake Plaza, with 270,400 sqm.

For 2017, no major retail project is scheduled for completion, according to DTZ. The current pipeline is limited and consists of the extension of retail schemes such as AFI Palace Cotroceni and Promenada Mall. Starting 2018, however, the situation is likely to change, since currently in the northern part of the city some projects are in early stages of development.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  3660 Views
Daily Info
Ratio between pensioners and employees could double by 2032 as compared to 2014, pension fund manager says

The ratio between pensioners and employees could double by 2032 as compared to 2014, which will cause problems in covering the necessary pension payments by the employees for ...

Damages to electricity networks caused by severe weather conditions do not increase the distribution tariffs, says ACUE

Lately, Romania confronted with extreme, unpredictable meteorological phenomena that have caused major damages, in large areas, to electricity distribution networks.

Orbis turnover increased to 62 million Euro in Q1

The Orbis Hotel Group turnover increased by 4.4 million Euro in Q1 2017 up to 62 million Euro, a press release shows. Group's EBITDA in the first quarter totalled 8.9 millio...

Deloitte Romania appoints Alexandru Reff as new country managing partner

Alexandru Reff has been appointed country managing partner Deloitte Romania and Moldova, effective June 1, 2017. He will succeed Ahmed Hassan, who takes on a regional leadersh...

Cushman & Wakefield Echinox expands its retail department with new appointment

Cushman & Wakefield Echinox consolidates its retail team by recruiting Dana Radoveneanu, a specialist with six years of experience of the local retail market, a press release ...

 
 
   
advertising

advertising

advertising

advertising

More on News
Iohannis: I explained to EU leaders multi-speed Europe is not a good solution, could end in split-up

President Klaus Iohannis, speaking after the European Council's meeting, said that he explained to EU leaders that a multi-speed Europe is not a good solution and that in e...

BRUA pipeline to operate in 2020 when Exxon, Petrom will extract Black Sea gas

The works at the BRUA (Bulgaria - Romania - Hungary - Austria) pipeline will start at the end of 2017, and the gas pipeline will become operational in 2020, when ExxonMobil...

Ninety-seven per cent of household waste ends up in landfills, says ARBIO

As much as 97 per cent of Romania's household waste ends up in landfills, and Romania could be fined starting in 2020 about 500,000 Euro per day if it fails to bring the nu...

Net investment in national economy, down 3.3 per cent in 2016

Net investment carried out last year in Romania's national economy stood at 70.281 billion RON (15.6 billion Euro, declining 3.3 per cent from 2015, according to data relea...

Romania has significant potential in agriculture, but low productivity, says PwC Romania

Romania is one of the European countries with the highest potential in agriculture with the sixth biggest agricultural use area in the EU, but it has a low productivity due...

Commercial property investments in Romania exceeded 850 million Euro last year, says DTZ

In 2016, the total volume invested in commercial property in Romania exceeded 850 million Euro, a DTZ Echinox report shows. Bucharest attracted 660 million Euro, which repr...

PM Grindeanu in Brussels: Policies on cohesion funds, common agricultural policies important to Romania

The policies regarding the cohesion funds and the common agricultural policies are important to Romania, Prime Minister Sorin Grindeanu said in Brussels, in talks with seve...