CBRE: Only two retail projects to be delivered this year

Of all commercial centers in different development stages, only two will be completed this year, both of Nepi, Vulcan Value Centre Bucuresti and Targu Jiu Shopping City, totaling 52.000 retail spaces.

2014-08-01 13:58:15

Besides, there are major projects such as Parklake and Mega Mall, both in Eastern Bucharest, Ghencea Shopping Centre of Immochan, the first development stage of Coresi in Brasov and Timisoara Shopping City. The CBRE reports also quotes Victoria City or refurbishment and expansion to current projects such as Carrefour. In 2016, they are estimated to add around 3.15 million sqm to the already existing retail and commercial space pool.

In Bucharest, Anchor Grup announced refurbishment plans for Plaza Romania and Bucharest Mall while the most recent revamping has been completed at Iris Titan Bucharest. Regarding the diY segment, posting the most dynamic changes this year, the market will change from a fragmented structure with over ten players, to a more consolidated one with five at most.

In Romania, the entire DiY segment crossed a turmoil interval, defined by pulling back and consolidations. Hence, the UK group Kingfisher took over the Bricostore network from the French group Besson and rebranded in Brico depot, with the lauch performed recently in Bucharest. Also, the German retailer Obi take is mulling the possibility to leave the Romanian market within this year, after it registered losses each year since 2008. Obi opened the first store in 2008 at Oradea and, so far, opened also units in Bucharest, Arad, Ploiesti and Sibiu.

In February this year, also German network Praktiker sold the 27 DiY units in Romania to Search Chemicals company controlled by the Turkish businessman Omer Susli. The end-half of this year brought also the takeover of Baumax by French retailer Leroy Merlin.