NEPI will open two shopping centers later this year: the Vulcan Value Center in Bucharest and Targu Jiu Shopping City. The two malls will offer a total area of 52,000 sqm. In all, an additional 195,000 sqm of retail space is expected to hit the Romanian market next year, according to a recent CBRE report. Luiza Moraru, head of retail and asset services at CBRE Romania, predicts that in the coming years many of the country’s existing malls will be renovated. Around 5 percent of Romania’s operational retail stock has gone through a complete refurbishment over the last six years, while 37 percent has not seen any upgrades, according to CBRE.
