The deliveries of new shopping centers in Romania totaled 66,700 sqm in 2017, about 70% less than in 2016, when close to 213,000 sqm of modern retail facilities were inaugurated.

Moreover, last year was the first one when the shopping center area declined as the closings were higher than the openings, according to local real estate consultancy firm Activ Property Services.

Only two new shopping centers were opened last year in the country, namely Shopping City Ramnicu Valcea and Platinia Cluj-Napoca, and two expansions were also completed, namely those of Shopping City Galati and AFI Palace Cotroceni.

Meanwhile, the surface of the properties that closed in the last year reached almost 83,000 sqm, including the closing of the Vitantis shopping center in Bucharest, which was announced in January 2018.

The project pipeline for 2018 includes two new malls and five expansions with a total surface of 154,000 sqm, but many of these projects are behind schedule and their opening may be postponed, according to Activ Property Services.

editor@romania-insider.com