Focus shift to north and east for mall developers in Bucharest

The northern and eastern areas of Bucharest are still lagging behind in terms of the number of shopping centres, a reason why at least 3-4 malls are likely to be built in these areas in the next three years.
Over the past three years, southern and western Bucharest, namely the areas of Berceni and Militari districts, have been overloaded with shopping centres, with seven of the nine projects completed in 2008-2010 being located in these areas, while land owners in northern and eastern Bucharest were slower to move, so that they were caught by the crisis with their projects just on paper.
Though put on ice for a period, the projects designed on plots of land that cost tens of million euros have not been abandoned, and information has started to emerge this year that construction works are due to start on several plots.
The developers of at least three projects have voiced their intention of starting works this year, namely for malls Promenada (Floreasca), Victoria City (Bucureștii Noi) and Pallady Shopping Center, but these are not the only projects likely to be launched in 2011.