ROMANIA RETAIL SNAPSHOT 2019-2021
Only one delivery has been recorded in Q3, namely Dâmboviţa Mall (31,200 sq. m) developed by Prime Kapital, the first modern retail project in Târgovişte. Another major delivery is expected in Q4, when AFI Palace Braşov (45,000 sq. m) is scheduled to be completed. Cinemas and indoor F&B units have mostly been reopened in Q3, thus making shopping centers fully functional, but a new wave of restrictions is expected in Q4 as a result of the increasing number of Covid-19 cases in Romania.
Pipeline remains consistent despite the pandemic
New schemes or extensions to existing projects totaling around 170,000 sq. m are under construction and expected to be delivered in the following two years, while a few other significant projects find themselves under various planning stages, being difficult to assume that all of them will be delivered as planned due to the uncertain climate caused by the Covid-19 pandemic.