Developer Oasis launches commercial property management division in Romania

Newsroom 23/06/2011 | 15:15

Retail developer Oasis has launched its Shopping Center Services division, which will provide commercial management and technical administration services for the retail sector. The new division will be headed by Brigitte Schmitt (pictured), the former head of the property management division of DTZ Romania. The new division already administers a portfolio of 25,000 sqm of retail space in the projects developed by Oasis Development.

Oasis Shopping Center Services provides technical and commercial management services for retail developments, as well as analysis for tenants mix reconfiguration. The new division plans to have over 100,000 sqm of retail space in administration by the end of the year.

“Once the Romanian retail market evolves and competition increases, there will be details making the difference in how shopping centers are managed and the tenants mix is chosen. For instance, administration costs of Romanian shopping centers are high, with situations when they are comparable with a second rent. In other European markets, these costs do not exceed 25 percent of the net rent. At the same time, commercial centers should carefully configure their tenants mix so that it is sustainable on the long term,” said Brigitte Schmitt, partner with Oasis Shopping Center Services.

The property and facility management market, which is concentrated mainly around Bucharest, was estimated at approximately EUR 200 million last year, up 10 percent since 2009.