New Luxury Destination in Bucharest – H Știrbei Palace

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The luxury goods market in Romania is estimated to generate EUR 535.82 million in revenue in 2024, with a significant contribution from online sales (13.8%). Demand for luxury goods is growing, fueled by a population with a rising standard of living.

In this context, CBRE Romania announces its exclusive involvement in the leasing strategy of H Știrbei Palace, an emblematic historical monument located in the heart of Bucharest and one of the most anticipated retail projects in the capital. After the completion of the renovation works, Știrbei Palace aims to become a landmark shopping gallery for luxury brands in South-Eastern Europe.

“H Știrbei Palace is the ideal project for luxury brands that want a strategic presence in Europe, in a premium location. The Romanian retail market has proven its resilience and potential in Central and Eastern Europe, with remarkable results. We aim to transform Știrbei Palace into the city’s luxury shopping destination and bring Calea Victoriei back among the world’s major shopping streets. We believe this project will make a significant contribution to the development of the luxury retail market in Romania and will strengthen Bucharest’s position as a top shopping destination,” said Carmen Ravon, Head of Retail Occupiers CEE at CBRE Romania.

In this mandate, CBRE Romania is focused on attracting premium and luxury retailers, responding to significant demand from this segment. The increased interest shown in recent discussions confirms the robust potential of the Romanian market.

“We are delighted to join forces with CBRE, whose outstanding reputation and track record in the real estate realm speaks for itself. This partnership reiterates our commitment to place Romania on the map of luxury shopping destinations and validates the enormous potential of H Știrbei Palace, while marking an important step in our strategy to attract exclusive brands and offer customers a unique shopping experience,” said Ana-Maria Nemțanu, Leasing Director at Hagag Development Europe.

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1 Comment
  1. Panagiotis Spyridis says

    “Luxury”…. well we just have to wait and see how LUXURY it will be in brand names. Bucharest simoly does not have the inbound touristic market for the heavy lux brands.

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