Colliers: Romania’s stock of retail projects could exceed 4.6 mln sqm by end-2024
<p>The first half of 2024 saw a dynamic increase in the delivery of new retail projects, adding roughly 106,000 sqm to Romania’s total stock - more than three times the amount delivered during the same period last year, according to a Colliers’ report.&nbsp;</p>

<p>The second half of the year also looks promising, with around 250,000 square meters currently under construction. Thus, by the end of the year, the total stock of retail projects could exceed 4.6 million sqm.</p>

<p>The largest openings in 2024 were Argeș Mall (51,400 sqm), the new Prime Kapital/MAS REI project in Pitești, followed by Aurora Mall in Giurgiu (13,500 sqm), developed by one of the most active local developers, Cometex, and OK Shopping Center Bistrița (9,200 sqm), also developed with Romanian capital.</p>

<p>Overall, the distribution appears much more balanced than in the past, both in terms of the types of projects delivered and the categories of cities targeted. Colliers’ consultants also note an increase in the proportion of local capital investments compared to foreign capital.</p>

<p>“It is a dynamic period for the retail market, with a considerable number of projects in various stages of development, many of them under construction. By the end of 2024, the stock of projects could exceed 4.6 million square meters,” said Liana Dumitru, Director of Retail Agency at Colliers.</p>

<p>A preliminary estimate for 2025 predicts around 200,000 sqm of new deliveries, including the expansion of Mall of Moldova in Iași by Prime Kapital/MAS REI, which will add 62,000 square meters. As a result, Colliers said that Romania could surpass the 5 million square meter mark in retail space by the end of 2026, signaling a significant shift in the market from an investor’s perspective.</p>

<p>“We are seeing increasing interest from developers in large-scale mall or mixed-use projects in the coming years. Assuming there are no major external crises, the Romanian consumer appears to be in good shape to support the continued growth of the retail market. However, given the recent rise in inflation and global uncertainties, we expect households to be more cautious, which means that mass-market brands and discounters will continue to perform well. Compared to other European countries, Romania does not have an oversupply; on the contrary, there is a deficit in many segments and a greater need for diversity,” stated Simina Niculita, Director &amp; Partner Retail Agency at Colliers.</p>

<p><i>irina.marica@romania-insider.com</i></p>

<p><i>(Photo source: <a href="https://www.dreamstime.com" rel="noopener" target="_blank">Eugene Suslo/Dreamstime.com</a>)</i></p>