PL

Romania Strong retail in Romania

Retail & leisure
Cushman & Wakefield Echinox has presented its report on Romanian retail market. The development activity in the retail sector remains animated, with over 230,000 sqm planned to be delivered in 2023, which is the highest level of the last six years.

Approximately 100,000 sqm of retail spaces were delivered last year, with retail parks having an 80 pct share, while cities such as Bucharest, Timisoara, Pitesti, Turda, Baia Mare, Slatina and Miercurea Ciuc benefited from such investments. The new supply will significantly increase in 2023, as over 230,000 sqm of retail spaces are currently under construction and are planned to be completed by the end of the year, a total which would represent a record for the last six years.

New projects consisting of 20,000 sqm GLA were completed in Q4 2022, while the total retail stock across Romania reached 4.2 mln sqm at the end of 2022, with 56 pct of it being in shopping centres, 38 pct in retail parks and 6 pct in commercial galleries.

The development activity will be dominated by shopping centres in years 2023-2025, which have a share of more than 60 pct of the total new spaces estimated to be built nationwide by 2025. This shift comes after a few years in which the developers' attention has been focused on retail parks, which have accumulated more than 80 pct of new deliveries.

The 2022 new supply and the plans for the next three years prove once again that traditional retail will continue to play a key role in the overall real estate landscape. This is primarily explained by the fact that malls, retail parks or commercial galleries are no longer just shopping destinations. They provide the perfect ecosystem for the new brands which are contemplating to enter the market, and also for the existing ones to adapt their sales policies to the changes in consumer behaviour. Moreover, customers have immediate access to almost any product, while the retail developments contribute directly and indirectly to community’s well-being through investments in infrastructure, job creation, and taxes.
Dana Radoveneanu, Head of Retail Agency Cushman & Wakefield Echinox

Almost 600,000 sqm of retail spaces are currently in different planning stages and are expected to be delivered between 2023 and 2025. Around 40 pct of this pipeline is in line to be completed by the end of the year, according to data from the major market players. Prime Kapital - MAS Real Estate, NEPI Rockcastle, Scallier, AFI Europe or Oasis remain among the most active developers of such properties on the short and medium term, which shows that the local market remains attractive even in the face of macroeconomic pressures. On the other hand, the overall appetite for consumption in Romania has encouraged new retailers such as Primark, Popeyes, TEDi or HalfPrice to enter the country and open their first stores in 2022.

Latest news

Office & mixed-use development

Romania More energy for Equilibrium 2

schedule 05 December 2023
Opr./edited by JC

Energy sector services and supplies group Eximprod is relocating its Bucharest office to the Equilibrium 2 building in the same city.

Warehouse & industrial

Romania New FAN for VGP Park Arad

schedule 05 December 2023
Opr./edited by JC

Romanian online shipping company FAN Courier has leased 10,000 sqm – the last available space – in VGP Park Arad in western Romania.

Warehouse & industrial

Poland Panattoni close to completing DHL centre near Poznań

schedule 05 December 2023
Opr./edited by JC

Panattoni's development of a 32,000 sqm logistics centre for DHL Parcel in Robakowo near Poznań is now close to completion. It is set to be the developer’s third industrial project in Poland to be awarded BREEAM ‘Outstanding’ certification.

Eurobuild FM

Poland Anna Watkowska on FSO Park

schedule 04 December 2023
Magda Rachwald

Welcome to Eurobuild FM! Anna Watkowska, a member of Okam City's management board and the project leader of the FSO Park development in Warsaw, talks exclusively for our podcast about the largest planned residential investment in the city. Check out at what stage this spectacular project has now reached.

Warehouse & industrial

Romania Chinese choose CTPark

schedule 04 December 2023
Opr./edited by ANZ

Topband Smart Europe, a Chinese company that manufactures controllers for power tools, white goods and BMS systems, has started operations at CTPark Timişoara. The tenant's production facility occupies app. 11,000 sqm.

Office & mixed-use development

Poland Lux Med stays at O3 Business Campus

schedule 04 December 2023
Opr./edited by ANZ

Lux Med Group has extended its lease at EPP-managed O3 Business Campus in Kraków. The tenant occupies almost 2,200 sqm in the building.

Warehouse & industrial

Poland Panattoni grows in Łódź

schedule 04 December 2023
Opr./edited by JC

Panattoni has started the construction of the first hall within Panattoni Park Łódź West II, which will occupy 70,630 sqm. Almost half of this space will be taken up by Rohlig Suus Logistics.

Investment & finance

Croatia S Immo sells Eurocenter in Zagreb

schedule 04 December 2023
Opr./edited by ANZ

S Immo successfully concluded the disposal of the Eurocenter office building in Zagreb, Croatia. In addition to offices, the Eurocenter also includes a bank branch and a café and has a gross lettable area of around 9,000 sqm.

Warehouse & industrial

Germany CTP to deliver sustainable transformation

schedule 04 December 2023
Opr./edited by JC

CTP has announced plans to develop a 60,771 sqm logistics park through a partial refurbishment of an existing business park in Krefeld West, Germany.

Residential

Poland More then 500 units under the Lett brand

schedule 01 December 2023
Opr./edited by ANZ

In two years, Finnish developer YIT has built and handed over more than 500 rental units in Warsaw to the Nrep fund. The flats were built in three Warsaw districts - Ursynów, Bemowo and Mokotów.

ESG

Poland CMS, WELL done!

schedule 01 December 2023
Opr./edited by ANZ

The CMS law firm's headquarters, located in Varso Tower, has become the first office arrangement in Poland to be awarded WELL Platinum certification. Thus, CMS joins the ranks of four law firms worldwide that have an office that complies with the highest standards of occupant wellbeing.

Office & mixed-use development

Poland Concentrix circles in on Global Office Park

schedule 30 November 2023
Opr./edited by ANZ

Customer engagement specialist Concentrix has leased almost 5,200 sqm in Global Office Park in Katowice, which is owned by Cavatina. The deal is the largest office lease in the city in 2023.

Investment & finance

Poland mBank provides loan for 7R

schedule 30 November 2023
Opr./edited by ANZ

7R has obtained a development loan for the 7R City Flex Katowice I project. The financing of EUR 15.5 mln was provided by mBank.

Warehouse & industrial

Poland Universal Express long-stay in Pruszków

schedule 30 November 2023
Opr./edited by BL

Universal Express has extended its lease of the MLP Pruszków II park for another period. The company has been a tenant of the MLP logistics centre for almost 10 years.

Hotels

Poland The seventh Accor in Kraków

schedule 30 November 2023
Opr./edited by ANZ

A new hotel is being built in Kraków. It will be the seventh facility of the AccorInvest/Orbis group in the capital of Malopolska under the Accor brand in the lifestyle segment. The hotel is scheduled to open in Q2 2025.

Investment & finance

Poland Galeria Tarnovia changes hands

schedule 30 November 2023
Opr./edited by ANZ

A London-based European investment company has finalised the purchase of Galeria Tarnovia, which is one of the biggest transactions on the Polish retail property market this year. The Tarnów mall has about 17,000 sqm of leasable space (36,500 sqm of total space).

Infrastructure

Poland PLN 1.5 bln for the airport

schedule 29 November 2023
Opr./edited by ANZ

The investment programme until 2030 worth more than PLN 1.5 bln has been approved for Katowice's Wojciech Korfanty Airport. The programme will include more than 20 projects, with the construction of a passenger terminal, a cargo terminal, a technical hangar, as well as taking into account changes to the airport's transport system.

For Ukraine

Poland Nansen Refugee Award goes to Poland!

schedule 29 November 2023
Opr./edited by ANZ

The UN Nansen Refugee Award award will go to Poland for the first time. According to the office of the UNHCR High Commissioner this year's regional winner for Europe is a Polish couple, Lena and Władysław Grochowski.

Eurobuild FM

Poland Edyta Chromiec on ESG in the construction sector

schedule 28 November 2023
Magda Rachwald

We invite you to listen to the next episode of Eurobuild FM! Edyta Chromiec, senior associate of the ESG department at Colliers, describes how Polish general contractors are prepared to implement ESG principles – not only environmental, but also social ones.

Warehouse & industrial

Hungary DHL relocates to zero ready PT1 megapark

schedule 28 November 2023
Opr./edited by ANZ

DHL Supply Chain, a member of the DHL Group, has leased 20,000 sqm in the largest stand-alone modern industrial building in the Budapest area, developed by HelloParks. The park has been prepared to enable zero-emissions operations.

Latest in Retail & leisure

schedule 24 November 2023

Pařížská is the most expensive

In this year's 33rd edition of the Cushman & Wakefield Main Streets Across the World ranking, the Czech Pařížská street has been ranked 11th in Europe and the first in the CEE region. The survey compares nearly 50 countries around the world by the level of retail rents on the most expensive shopping street in each country.

schedule 20 November 2023

For the sixth time in Romania

Scallier has opened another retail park in Romania. The 8,500 sqm development was built in Mosnita, a town on the outskirts of Timisoara. The facility is almost fully leased. 

schedule 24 October 2023

Karuzela spins into Biała Podlaska

Mitiska REIM and Karuzela Holding have opened their ninth Karuzela retail park in Poland – in the eastern city of Biała Podlaska.

schedule 23 October 2023

Cosmic expansion for Opus

Opus Land Development has opened the extension of Cosmopolis Plaza in Ștefăneștii de Jos on the northern outskirts of Bucharest.

schedule 13 October 2023

Wittchen opens 1st Romanian store

Polish fashion brand Wittchen has opened its first Romanian store in the ParkLake shopping centre in Bucharest.

schedule 05 October 2023

Largest CEE retail complex opens in Craiova

NEPI Rockcastle’s Promenada Craiova shopping complex in central southern Romania has been officially opened. The EUR 136 mln project is the largest retail development by size and investment value to open in the CEE region in 2023, according to CBRE.

schedule 25 September 2023

Popeyes pops into Złote Tarasy

The first Popeyes restaurant in Warsaw has opened in Złote Tarasy. The Louisiana-based fast food chain is the seventh new tenant of the shopping centre this year.

schedule 13 September 2023

Street in the passage

Street Restaurant has opened in the Lixa office complex. The restaurant occupies approx. 470 sqm on the ground floor of the Lixa C building, facing the pedestrian walkway between ul. Kasprzaka and Giełdowa.

schedule 11 September 2023

Answear.com debuts in Warsaw

The owners of Answear.com and the Capital Park Group have signed a contract to lease space in the Norblin Factory complex in Warsaw. In the developer's flagship investment, the first stationary store of the digital platform will be established.

schedule 07 August 2023

Biggest buy for Fidurock

Czech-Dutch investor Fidurock has acquired Retail Park Trutnov in the Hradec Králové region from Czech Fund, which is managed by Brno-based Investiční skupina DRFG.

schedule 30 June 2023

13 new brands and more to come

According to Cushman & Wakefield, 13 new brands have arrived on the Czech retail market in the first six months of this year. Most of them are in the fashion segment and culinary concepts.

schedule 27 June 2023

Big make-over for One Split

CC Real, the international investment and asset management company, has commenced its extensive EUR 20 mln refurbishment of City Center one Split, due for completion by the end of Q2 2024.

schedule 01 June 2023

CBRE on the state of Czech retail

The rapid rise in prices (inflation increased by 15.1 pct y-o-y) and energy expenses have been met by a further decline in already weakened customer confidence. How did this affect shopping centres in the Czech Republic?

schedule 10 May 2023

Carrefour adds Cora Romania to portfolio

French grocery operator Carrefour has signed an agreement with Belgian retail group Louis Delhaize for the acquisition of its activities in Romania, which includes ten Cora hypermarkets and eight Cora Urban stores, as well as an e-commerce platform, logistics and central services.

schedule 28 April 2023

G City buys final 25% of Arkády Pankrác

G City Europe has completed the acquisition of the remaining 25 pct stake it did not previously own in the Arkády Pankrác shopping centre in Prague 4 (Nusle) for EUR 60.5 mln.

schedule 28 April 2023

Multiple attractions in Colosseum Mall

Colosseum Mall in Bucharest has announced the signing of a lease agreement with Hype by Kiddo for the opening of large entertainment centre. The centre will have an area of approx. 2,500 sqm, and the tenant's investment will amount to EUR 1.5 mln.

schedule 06 April 2023

First Polish M Park opens – in Świdnik

UK-based M Core, through its subsidiary LCP Properties, is to develop Świdnik M Park in an investment of EUR 10 mln. The 7,700 sqm retail park is the group’s largest development so far in Poland and the first under the M Park brand.

schedule 03 April 2023

Mitiska opens on the banks of the Danube

Mitiska REIM has announced the opening of a new retail park development in the city of Giurgiu, located in southern Romania.

schedule 31 March 2023

Two new Vendo Parks

Trei Real Estate has just opened another two retail parks of its Vendo Park brand in Poland. The properties are located in Zambrów and in Kraków. The two retail parks have a combined lettable area of around 11,000 sqm, and the investment volume adds up to circa EUR 16.4 mln.

schedule 24 March 2023

Glinianka is filling up

Jysk, which took up around 1,300 sqm, and Piekarnia Cukiernia Grzybki bakery (around 170 sqm) are new tenants at the Glinianka retail park. The park is being built in the village of Łubna, near Warsaw, and will provide the Mazovian market with around 10,000 sqm of leasable space. 

Edition 11 (283) November 2023

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