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Total stock of commercial centers to double in 2008

The total stock of commercial centers will double in 2008, exceeding 1 million sqm of rentable area, reads a study issued by Colliers International.

Some 20 malls will be delivered in Bucharest, Constanta, Brasov, Galati, Braila, Oradea, Buzau, Piatra Neamt, Suceav and Bacau, according to the source. The commercial centers established in 2007 outside Bucharest bring to over 200,000 sqm the stock of new retail areas. Thus, though retailers' expectations for Bucharest were higher, the other cities proved more dynamic on the Romanian retail market. Colliers International shows that the prices for street areas will register a slight increase thanks to the high demand on the market, which exceeds the offer. The lack of immediate success for the already delivered projects, together with the financial crisis, made the investors and the investment funds be more cautious at the end of 2007, a trend that will continue in 2008. Sursa: http://www.rompress.ro

Tags: centers commercial stock

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