Real estate consultancy Colliers International estimates that Bucharest still has room for another large shopping center, although the total mall surface in Bucharest will increase by over 100,000 sqm by the end of the year.

Two new malls will be inaugurated this year in the east of the capital, namely ParkLake in Titan and Veranda near Obor. The current inventory of modern commercial area in Bucharest will go up from 1.06 million sqm to 1.13 million sqm once the ParkLake Plaza mall is delivered.

The commercial space per 1,000 inhabitants in the metropolitan area will thus reach about 452 sqm. The level is well behind other capitals in the region.

The market could absorb another 200,000 sqm in the following years, which include the 100,000 sqm to be delivered this year, said Liana Dumitru, director of Office & Retail Agency at Colliers International.

The estimates take into account the purchasing power evolution and the increase in consumption in the next years.

editor@romania-insider.com