Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects.

AFI Cotroceni recorded the highest turnover of all malls in 2024, reaching RON 301 million, but closed the year with a net loss of RON 59.5 million, according to the analysis. 

By contrast, Băneasa Shopping City remained the most profitable shopping centre in Bucharest, reporting RON 187.4 million in net profit on a turnover of RON 299 million - a profit larger than Mega Mall’s total turnover of RON 180 million. Both AFI Cotroceni and Băneasa are controlled by Cyprus-registered companies.

Mega Mall, owned by Dutch company NE Property B.V., posted a turnover of RON 180 million and losses of RON 28.4 million in 2024. Sun Plaza, meanwhile, was among the strongest performers, with turnover rising from RON 101 million in 2022 to RON 167 million in 2024 (the largest growth rate among Bucharest malls) and a profit of RON 44.5 million.

ParkLake Shopping Center reported RON 140 million in turnover and RON 8.16 million net profit in 2024, recovering from a loss recorded the previous year. Meanwhile, București Mall and Plaza Romania, managed by the same Dutch-owned company, reported a combined turnover of RON 139 million and a loss of RON 3.2 million.

Promenada Mall, located in the city’s biggest office district, closed 2024 with a turnover of RON 121 million and a profit of RON 12 million, while Veranda Mall, serving the Obor area, reported RON 45 million in turnover and RON 8.9 million profit.

Six of Bucharest’s major malls are owned by foreign companies, primarily from Cyprus and the Netherlands.

irina.marica@romania-insider.com

(Photo source: Dianabahrin/Dreamstime.com)