Modern retail stock in Bucharest reached 1.225 million sqm at the end of 2016, with shopping centers (56 percent) and retail parks (33 percent) making up the majority of the total, according to a DTZ Echinox market report. New supply reached 98,500 sqm with the openings of Parklake Plaza and Veranda Shopping Center and the expansion of Militari Shopping retail park.
Bucharest’s sixth district has the largest retail stock, totaling 301,800 sqm, followed by the third district with 270,400 sqm. No major retail projects are scheduled for completion this year. The current pipeline is limited and consists of expansions of existing schemes like AFI Palace Cotroceni and Promenada Mall. Starting in 2018, however, the situation is likely to change, as some projects are in early stages of development in the northern part of the city.
