Appetite For Consumption, Retail Expansion In Romania Seen Reviving In 2H 2010

Romanians’ appetite for consumption and investors' initiative for retail expansion will return in the second half of 2010, officials of real estate service company Cushman&Wakefield said Tuesday.

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In the next two years, developers won't complete any big or average retail project in the capital city, Bucharest, Cushman&Wakefield Romania managing director Razvan Gheorghe told a seminar.

"For 2010-2011, 600,000 square meters of retail spaces were announced for completion, but only 300,000-350,000 square meters, or half, will be really delivered on the market," Gheorghe said.

According to Cushman&Wakefield data, in Romania, the modern retail space (in shopping malls, bricolage stores etc) stock totals 2.2 million square meters, of which 700,000 square meters in Bucharest.

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