The European Shopping Centers Report shows that, by the end of 2009, commercial areas announced in Romania are to total 1.8 million sqm, adding to the existing 0.9 million sqm. Late 2009, the stock will amount to 127 sqm per 1,000 inhabitants, triple compared to the current stock.
“The need for retail on the Romanian market, especially in Bucharest, is still high. Romanians spend money and foreigners have learned that,” Cushman&Wakefield Activ Consulting’s General Manager and Partner, Razvan Gheorghe, said.
A total 22 million sqm of shopping centers will be inaugurated in Europe by the end of 2009. Russia has the largest ratio - 3.2 million sqm, followed by Ukraine, with 2.8 million sqm, and Spain (1.8 million sqm). With its €1.8 million sqm, Romania outranks countries that are known for large retail projects, such as Poland, Cezech Republic and Britain.
Last year, a total 8.2 million sqm of commercial areas were inaugurated in Europe.
