The area of shopping centers in Romania will expand this year by about 190,000 square meters (sqm), a 9% advance from the current stock of 2.1 million sqm, according to an analysis by real estate consultancy firm CBRE. Most of the new spaces are being developed in regional cities, and 18% of new constructions will be extensions of existing commercial centers.

The inventory of modern retail centers has reached 2.1 million sqm, of which 38% are in Bucharest.

After the extension (enlargement) of existing commercial centers, the total average turnover (rental income) per commercial center will rise by 5.5% year-on-year to EUR 10 million this year, according to CBRE. The major players reported slight gains in revenues while regional projects have slightly lost momentum amid the development of e-commerce.

The average rent was estimated at EUR 27 per sqm per month. In estimating this value, rents paid by supermarkets, hypermarkets, DIY stores, cinemas, and bowling halls were not taken into account.

editor@romania-insider.com

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