Colliers: Bucharest adds another 100,000 sqm to the overall commercial spaces market in Romania
The modern commercial retail spaces in Bucharest will grow with 100,000 sqm by year end, following the opening of two projects in Eastern of the capital, Colliers says. 2016-08-30 16:11:46
Moreover, Colliers estimates that Bucharest has space for another large commercial center. Folowing the opening of this autumn of ParkLake Plaza, the commercial spaces stock in Bucharest is expected to reach 1.13 million sqm. This means 452 sqm per thousand inhabitants, behind the average of the large cities in the region, according to Colliers latest study. By yearend, the capital will see all the opening of Veranda Mall.
According to Liana Dumitru, associate director within the retail department of Colliers International, based on the domestic purchase power evolution and growth pace of consumption for the next years, the market can host approximate another 200,000 sqm rentable commercial spaces, out of which, 100,000 sqm in Bucharest.
The scheduled opening of ParkLake Plaza in Eastern Bucharest will put more pressure on this area, which saw another opening, of Mega Mall, 18 months ago so that, by yearend, the Eastern Bucharest will have four commercial centers: Mega Mall, ParkLake Plaza, Bucuresti Mall and Veranda Mall. According to Colliers estimates, the international retailers in Romania posted growth between 10-20 per cent in sales in 2015, with this trend expected to keep the pace this year.
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