EMEA Office Fit Out Cost Guide 2024
Retail projects of over 40,000 sq. m were delivered in Q3 2022, the new supply comprising of three new retail parks in smaller cities (Turda, Turnu Magurele and Miroslava), one retail park in the vicinity of Bucharest and extensions of two existing retail schemes in Slatina and Baia Mare. As a result, retail parks remained dominant in terms of development activity in 2022, accounting for 80% of the total new supply registered in the Q1 – Q3 (75,000 sq m) period. Therefore, investors such as Iulius Group, Cometex (owned by the Altex electro-IT retailer) and Synergy entered the retail park market along with Prime Kapital – MAS Real Estate, Scalier, and Mitiska – Squaretime (the most active developers of such projects in Romania). Moreover, almost 250,000 sq. m of new projects are currently under construction and are due to be delivered by 2025, the new investments consisting of both shopping centers and retail parks.
