Over 110,000 sqm of commercial space to be delivered in Romania next year

Romania will see about 110,000-180,000 sqm worth of new commercial space delivered next year, according to estimates by real estate consultancy firms. The most conservative estimate belongs to Jones Lang LaSalle (JLL). “The retail projects announced for 2017 total 110,000 sqm. Except for one expansion, namely AFI Cotroceni, all the projects will be delivered outside of Bucharest,” said the JLL consultant Andrei Drosu, reports local News.ro. The South-African investment fund New Europe Property Investments (NEPI) will deliver the largest volume of retail space next year through the expansion of two commercial centers, namely Shopping Center Sibiu (about 11,000 sqm) and Shopping City Galati (21,000 sqm), as well as through the inauguration of Ramnicu Valcea Mall (27,900 sqm). Bistrita Retail Park, a project with an area of 15,000 sqm, will also be delivered next year. The project is owned by Ionut Dumitrescu, who founded the real estate consultancy Eurisko. The retail park Prima Shops in Oradea will also be opened in 2017. It will have an area of some 10,000 sqm. The project is owned by Oasis Retail & Development Consulting, a Sibiu-based developer. editor@romania-insider.com