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New retail projects with a combined leasable area of around 180,000 sqm were completed in Romania during 2024, down by around 15% versus 2023, with retail parks accounting for the biggest share of deliveries, according to Cushman & Wakefield Echinox. 

Romania’s retail stock is set to expand by around 90,000 sqm in 2024, of which more than half will be based in Pitești-based Argeș Mall. However, the development pipeline is strong for the 2025-2028 period, with a few large and dominant shopping centres expected to add several hundred thousands of leasable space to the local market, according to Colliers data.

The volume of investment in Romania’s commercial property sector reached €330 million in Q3 2022 and €667 million in the first nine months, while in the first three quarters of 2021 the investment market stood at around €550 million, according to Colliers.