Romania ranks third among the European countries with the newest stock of malls, with 82 percent of the commercial centers operational at end-2016, being delivered in the last 10 years, compared to only 38 percent at European level, Cushman & Wakefield survey reveals.
Thus, from an existing shopping centres stock (excepting retail parks and commercial galleries) of almost 2.1 million square meters, about 1.7 million square meters were delivered during 2007-2016.
Romania is overtaken by Bulgaria and Serbia, while mature markets such as Germany, France and the UK are at the bottom of the list, given that less than 20 percent of commercial stock of these countries has been built in the past decade, according to Cushman & Wakefield analysis.
Last year, there were finalized commercial centers with a rental area of 4.5 million square meters on the European market, down 6 percent from 2015. Romania, with deliveries of 229,000 sqm, contributed by 5 percent to the newly stock, completed at European level.
Russia continues to be the largest market for the development of shopping centers in Central and Eastern Europe, despite the fact that the deliveries of 1.2 million square meters in 2016 were at the lowest level in 2005.