Half of the retail projects announced in 2009 are under construction

Approximately 48% out of the 350 retail projects announced since the beginning of this year are under construction or in the finishing stage. The rest are in the intention, designing or auction stage.

According to an internal study conducted in september by IBC Focus, in the 9 months of 2009 there have been announced a total of 350 retail projects - showrooms, cash&carry, hypermarkets, do-it-yourself centres, supermarkets, stores, mall/shopping centres, etc.

Last year was extreme for the local retail market – 300.000 sqm delivered in the entire country, when internal consumption dropped drastically from the highs recorded in 2007 and S1 of 2008.

Still, the retail segment is still supported by the super/hypermarkets and do-it-yourself centres which countfor 65% of the retails projects recorded in september in the greatest database with cosntruction sites in Romania: www.raportuldeinvestitii.ro

Romania ranked 8th in Europe in terms of delivered retail space in S1 2009:

Sources: IBC Focus, Cushman&Wakefield

Comments

[Portable Storage]

Thanks for the information and I think that the projects which are going on are slow due to the economic slowdown and the projects which are on the urge of getting completed have started their projects early than the priojects which are going on.

Thanks,
Portable Storage,
http://www.moveablecubicle.com