Romania is on the third place in top European countries with the newest malls stock, taking into account that 82 percent of the commercial centers functional at the end of 2016 were delivered in the last 10 years, compared with a share of 38 percent at the European level, according to an analysis of Cushman & Wakefield, the real estate consultancy.
Thus, from an existent stock of malls close to 2.1 million sqm, around 1.7 percent million sqm were delivered during the 2007-2016 period.
In the ranking, Romania is outrun by Bulgaria and Serbia, while Germany, France and UK are on the lower part of the ranking, taking into account that less than 20 percent of the commercial stock of these countries was built in the last ten years, according the analysis.
In 2016, commercial centers with a lettable area of 4.5 million sqm were delivered on the European market, a drop by 6 percent compared with 2015. Romania, with 229,000 sqm that were fibished, contributed by 5 percent to the newly finished stock at European level.
In Central and Eastern Europe, the malls’ deliveries dropped by 17 percent in 2016, after a decline of 11 percent in 2015. The strong development activity from the last ten years trough a significant growth of the density of the commercial centers from several capitals of the region. Prague, Bucharest and Budapest are the exceptions, as the density of the malls is under the the average of the density from the CEE.
Russia is still the largest market of malls development from CEE, despite the fact that deliveries of 1.2 million sqm made in 2016 had the lowest level since 2005.