As pandemic conditions eased, customer appetite for shopping in malls picked up at the rates known back în 2019.
Luciana Giurea, General Manager of AFI Ploiesti, explained during CEDER 2022, that, în terms of footfall, “it feels like 2019, and even better when it comes to turnover numbers.” She believes 2022 will be a better year for retail than the pre-pandemic times, and shopping malls should prepare for the new trends on the market, with entertainment and food courts playing a more significant role than ever before.
“AFI Brasov represents a new generation of shopping centres, becoming a part of city life, with opera and film festivals, so we are ready to welcome back the customers,” Giurea added.
AFI Cotroceni has signed a lease for the value fashion retailer Primark, which enters Romania this year, a move described by the market as “as revolutionary as the coming of Zara”.
The retail centers owned by Immofinanz share the same feeling, as Geanina Ungureanu, Senior Leasing and Asset Manager at Immofinanz pointed out.
“We’ve seen 30-40% increases in sales compared to pre-pandemic times. The footfall is also increasing, but sales are doing fantastic, people are buying more, despite inflation”.
She added that rents are not going up, as malls are settled with long term contracts.
The increase in retail activity has also translated into more leasing agreements for law firms such as NNDKP. Ioana Niculeasa, Partner and Head of Real Estate at NNDKP, confirmed that it was not just lease agreements of newcomers from the retail industry, but also renegotiation of lease agreements, “which is a sign that we left the pandemic behind”.
