Hypermarkets give malls a boost, but for some projects the support is not enough

For most mall developers, this year’s main concern was to attract a hypermarket among tenants, a prerequisite at present for a possible opening. For some projects, though, this is not enough.
The shopping centre market seems to be slightly signalling a thaw-up: GTC yesterday announced it signed a contract with Cora network for the opening of a hypermarket in Galleria project of Arad, while two weeks ago businessman Iulian Dascălu announced the rental of a 5,300-sqm space in Palas Iași by French Auchan.
The expansion plans of some hypermarkets such as Cora and Auchan, with a more conservative approach during the real estate boom, are still providing real estate developers with work, as sealing a contract with these retailers substantially boosts the project pre-rental degree, given the large contracted areas.
At the same time, hypermarkets have coped with a lower sales decline than electronic home appliances or apparel networks and the presence of such a store daily attracts several thousand clients, which can turn into customers for the other retailers, as well.