Ideal start for malls: 80% occupancy rate

After shopping centre projects froze in 2009, investors are now starting to analyse the market again, with around 6 mall projects to be delivered starting next year, according to real estate consultancy Colliers International.

“Ideally, a mall would have an 80% occupancy rate to begin with. After a developer manages to rent out half a mall, they become confident that the rental pace is good, and speed up construction works. Next year will see the delivery of 2-3 shopping centres in Bucharest and another 2-3 outside of Bucharest,” said Simina Istrate, retail senior associate with Colliers International.

The next shopping centre set to open in October 2010 is Baia Mare’s Gold Plaza, covering an around 30,000 square-metre gross lettable area, which has already announced a portfolio of brands that include Cora, C&A, LC Waikiki, New Yorker, Deichmann, Takko, Leonardo and Douglas.