"In 2014 only three shopping centers were delivered: two by NEPI, in Bucharest and Targu Jiu, and the opening of Auchan Ghencea by Immochan. The plans for new developments in 2015-2017 were resumed for some developers such as Immochan, Sonae Sierra or Prodplast. From the retailers’ point of view, 2014 has been an intense year, we have conducted many introductions and visits for retailers of new brands planning to enter the Romanian market, directly or through a franchise.
2014 performed better than estimated at the beginning of the year, but the deals were not concluded easier than in 2013, for example the period between the start of negotiations and signing of the contract varies between 3 and sometimes more than 12 months. Thus the retail market was more dynamic, things are moving in the right direction, but we can not yet declare that it has completely recovered.
We are more optimistic with regards to the development of new shopping centers as well as to the entry of new retailers in 2015. The retail market is closely linked to the evolution of the economy. The more efficient the economy will be, the better sales will be, which will encourage retailers to expand to new cities. Online retail will increase, but I believe most shopping centers have already prepared wmarketing strategies to attract customers into stores " declared Carmen Ravon, Head of Retail Agency at JLL in Romania.