The stock of modern retail spaces will exceed 4.5 million square meters in 2024

In 2024, the stock of modern retail spaces will exceed 4.5 million square meters, setting a new record for Romania, according to a report by the CBRE real estate consulting company.

More than 185,000 square meters are expected to be added to the existing stock during the current year.
Developers prefer retail park formats, which represent 95% of all planned projects, as well as those already under construction nationwide. Pitesti is the city that will benefit from the biggest project under construction, Argeș Mall, scheduled to be launched on the market this month, a 52,100 sqm GLA (gross leasable area) concept developed by Prime Kapital.

According to the Romania Retail Destinations 2024 report, the main cities in the country analyzed by CBRE Romania will attract approximately 185,000 square meters in various stages of construction in the coming period. The largest shares of deliveries are concentrated in Bucharest or in its vicinity, followed by Iași, Cluj, Brașov and Timișoara.

Online commerce is also experiencing steady annual growth, with the volume forecast for 2023 being 7 billion euros – an 11% year-on-year increase.

"Many international retailers are very interested in entering the Romanian market, and the demand for large areas has increased. 2024 is already shaping up to be a dynamic new year from a commercial point of view, considering the brands that have opened or announced their intention to open locations in Romania: names such as KIKO Milano or Happy Restaurants, but also many others that will followed from the sports, convenience, fashion and beauty sectors", explains Carmen Ravon, Head of Retail Occupiers at CBRE.