MAIN STREETS ACROSS THE WORLD 2023
Q3 2023 saw the delivery of Carolina Mall in Alba Iulia, a 29,000 sq. m GLA project owned by Prime Kapital – MAS Real Estate, the largest shopping center completed in the past 3 years in Romania. The other scheme finalized in the same quarter was Annabella Retail Park, a 10,000 sq. m unit located in Horezu, thus bringing the total 2023 YTD retail new supply in the country to 69,000 sq. m GLA. Q4 is due to benefit from record deliveries of more than 220,000 sq. m of shopping centers and retail parks, among which are Promenada Craiova (80,000 sq. m), Prima Shopping Center (70,000 sq. m) or AFI Park Arad (29,000 sq. m), with this year therefore being expected to register the highest number of modern retail deliveries since 2008. Furthermore, other projects totaling more than 600,000 sq. m are in different construction or zoning / planning stages and should be completed across the country in the next 5 years, according to the plans announced by developers.