Ten new retail projects spanning a combined area of about 100,000 sqm have been handed over in Romania in 2021, as the attention of developers focused mainly on tertiary cities, with less than 150,000 inhabitants, shows data from real estate consulting company Cushman & Wakefield Echinox.
Six of the said projects, with a total area of 70,000 sqm were completed in the last quarter of 2021.
"The developers' interest has focused on cities where the stock of modern spaces is low - Barlad, Sfantu Gheorghe, Rosiorii de Vede, Medias, Baia Mare or Focsani being among the beneficiaries of new retail projects last year. The only project handed over in 2021 in Bucharest was the first phase of Fashion House Pallady, covering 8,500 sqm in total," the cited release states.
Retail parks further stay the developers' best preferred format in 2022, as more than 80 percent of the 100,000 sqm of new space announced for this year will be delivered under such schemes.
In the past two years, the retail department of Cushman & Wakefield Echinox has rented out a total of 30,000 sqm in retail projects in Bucharest and in the country. The independently owned and operated Cushman & Wakefield Echinox, Cushman & Wakefield's exclusive affiliate in Romania, comprises a team of over 60 professionals and contributors offering a full range of real estate consulting services to investors, developers, landlords and tenants.
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