DTZ: Romania's modern retail stock will exceed 3 mln sqm

Romania’s modern retail stock will exceed this year 3 million sqm, above the 2.86 million sqm level in 2013, according to real estate company DTZ. In Bucharest, the modern retail stock will surpass 1 million sqm. The vacancy rate of prime retail projects will continue to go down, at a slower pace compared to 2014, given that three major retail projects will open this year. The level of prime rents will not change much in the first part of the year, said Bogdan Marcu, head of retail department within DTZ Echinox. Compared to 2014, DTZ estimates that the number of new entries will grow. Several international retailers with a strong presence in Poland, Czech Republic, Hungary or Turkey are currently analyzing the Romanian market, and will officially enter the market by mid-year, according to the DTZ report. editor@romania-insider.com