The total modern retail stock has reached 3.84 mln sq m consisting of both shopping centers and retail parks located throughout the country in primary, secondary and even tertiary cities. During the first three quarters of 2020 the supply of modern retail was represented by NEST Miercurea Ciuc, NEST Oradea, Dambovita Mall and Shopping City Targu Mures, totalling over 90,000 sq m of GLA. The last three were delivered on the market during Q3 2020.
New entries on the market were limited, while the existing ones have tried to consolidate their networks in terms of efficiency considering the current pandemic. Among the winners of this unexpected crisis appear to be the food anchors, sports retailers and especially DIY operators.
Some of the new schemes completed in 2020 or close to be delivered on the market by 2020 were initiated back in 2019, while for 2021-2022 we expect that the investors will act cautiously when looking to new developments. More likely smaller and medium schemes especially retail parks will be the new market driver.