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Real estate: DTZ Report: Developers counted on opening commercial centres in first semester
Real estate developers counted on the opening of commercial centres in the first half of the year, when the stock of modern retail spaces in Romania exceeded 3 million square meters, according to a DTZ Echinox report.
At the end of June commercial centres represented 60% of stock, retail parks 25% while the 15% difference represents commercial galleries.
In the first half of the year, two commercial centres were completed - Mega Mall (Bucharest) and Coresi (Brasov), amounting to an area of 117,000 sq.m.
The density of modern retail spaces per 1,000 inhabitants in Romania is 100,000 sq.m. The most active retail investor remains NEPI, which is developing a commercial centre in Timisoara and extends certain commercial centres from its portfolio.
Considering that in Romania most towns with a population of over 100,000 inhabitants, modern retail projects were developed on average term, DTZ Echinox specialists expect that new developments should be directed to third towns. Retail parks of smaller dimensions may become the developers’ favourites.
At the same time, the main FMCG retailers continued to increase their network. Profi is the most active with 40 supermarkets and shops opened in the first par of the year. On the hypermarket segment, Kaufland, Auchan and Carrefour extended their local network by a unit each.
At the end of the first semester of the year, Kaufland operates 103 hypermarkets in Romania, Auchan has 33 units while Carrefour has 28 hypermarkets.
Expansion strategies of fashion retailers continued to have in view existing projects with proved performances. Moreover, several fashion retailers extended their network with the opening of Mega Mall and Coresi.
In the first 6 months, Inditex was the most active retailer in the fashion segment. The Spanish group opened 10 new units, reaching a number of 108 shops at the end of June. The second active fashion retailer was the Polish group LPP with 6 new stores opened and operating 21 units.