The modern retail stock in Bucharest remained stable in 2018, twice higher than in Moldova

The modern retail stock in Bucharest remained stable in 2018, at 1.2 million square meters, a level which is seven percent than in the Central-West region of the country (16 counties in Transylvania and Banat areas), which reached 1.18 million square meters, and twice the corresponding value of the Moldova region (eight counties), which reached 595,000 square meters, according to the Bucharest Retail Market and Romania Retail Regional Cities reports released by the Cushman & Wakefield Echinox real estate consultancy firm.

Another analyzed region is the South one (16 counties, excluding Bucharest – Ilfov), where the modern retail stock is of 735,000 square meters, therefore the total area of ​​all the retail projects (shopping centers, retail parks and commercial galleries) at the national level is situated at 3.71 million square meters, resulting in a density of 191 square meters / 1,000 inhabitants.

Taking into account the projects currently under construction, C&W Echinox expects the deliveries of commercial spaces to accelerate this year up to 140,000 square meters, as Sibiu, Timisoara and Bucharest will attract a 70 percent share of these deliveries.

In 2019, the most active developers will be NEPI Rockcastle, Iulius Group and Prime Kapital, three of the most important developers and owners of commercial spaces on the local market.

Last year, new retail projects with a cumulative area of ​​approximately 104,000 square meters have been delivered in Romania, with no new retail project being completed in Bucharest.