The companies that operate the biggest ten shopping malls in Bucharest recorded combined losses of RON 214 mln (EUR 44 mln) in 2020 as the pandemic and related restrictions negatively impacted the retail sector.

In 2019, the same companies had posted combined profits of almost RON 40 mln, according to Ziarul Financiar’s calculations based on official data from the Finance Ministry.

The combined turnover of the same companies declined by 23% last year to RON 873 mln (EUR 179 mln).

Baneasa Developments, the company that manages the Baneasa Shopping City mall in northern Bucharest, remained the leader despite a 31% drop in revenues to RON 160.7 mln.

AFI Cotroceni and Mega Mall came next with revenues of over RON 100 mln each, followed by Park Lake and Sun Plaza malls.

(Photo: Pixabay)

andrei@romania-insider.com