BR Analysis. New retail centers only in secondary and tertiary cities in the next two years

The modern retail area in the country reached 2.4 million sqm, without Bucharest, and it will add another 202,500 sqm until the end of 2019. And its time for secondary and tertiary cities to develop in retail.

The only big city with a new mall will be Brasov, with 45,000 sqm AFI Park in construction. The rest of the list is completed by cities like Satu Mare, Sibiu, Targu Mures, Roman, Focsani or Slobozia.

In this cities, solid investors, like NEPI-Rockastle or Prime Kapital are developing shipping centers adapted to the purchasing power and dimension of the cities.

NEPI-Rockastle, for instance, will put on the market 74,100 sqm malls in Targu Mures, Satu Mare, Sibiu and Vaslui. Another 59,600 sqm shopping centers will be added by Prime Kapital in Roman, Focsani, Slobozia, and Balotesti.

A silent investor, Belgium Mitiska REIM already owns 21 retail centers in Romania and develops another 8,800 sqm one in Mioveni.

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The market is changing

“Stores are growing bigger, serving both as sales space and as a showroom to support online commerce. In this way, the online and offline components are mutually supporting the economy of a shopping center, determining the need for larger spaces, ie expansion and refurbishment. This trend is natural in the era of technology, mobile applications where you can benefit from virtual test booths, where you can make 24/7 shopping and can be informed in real time about new collections, products, and more, ” Carmen Ravon, head of Retail Leasing of CBRE Romania states.

More than that, the number of shopping centers in development decreases, especially in Bucharest in theprimecitieslike Cluj-Napoca, Timisoara, Iasi, Poiesti, or Constanta, where the mai activity is to extend existing retail schemes in order to keep the visitors inside for as long as possible. And they are doing that extending food courts, adding cinemas and leisure time areas.

And it is happening now in Ploiesti,where NEPI-Rockastle extends Ploiesti Shopping City with 8,000 sqm, Timisoara, where Iulius developes a ne Iulius Mall of 47,000 sq, or Craiova with a 22,100 sqm extension of Electroputere Park by Catinvest.

“A major trend is the change in the type of tenants’ exposure. Food court areas and relaxation areas become attractions. Thus, apart from diversifying and increasing food court’s, and witnessing the emergence of more and more spaces for experience virtual reality games, adventure type escape rooms, various sports such as climbing, jumping on trampolines, surfing and diving, “ said Ravon.

For the next years, at least, retail market seem to find its way. Extending and adding attractions for the malls in the big cities and developing new ones, in the secondary and tertiary cities in the country.