Only 12 malls and retail parks have real chances of being finalised over the next three years, out of a list of 28 projects started or announced in the past year, reveals a ZF analysis based on the opinions of representatives of seven real estate consultancies.
ZF polled consultancies CB Richard Ellis, Colliers, Cushman & Wakefield, DTZ Echinox, Jones Lang LaSalle, King Sturge and The Advisers Knight Frank, to find out from managers of retail and research departments what percent of the 28 projects proposed by the developers in the past year are likely to be completed by 2013.
Despite the optimism displayed by the retail market at the beginning of this year, consultants say only 12 of these projects have an over 50% chance of being completed in the next three years, with eight of them being ongoing, according to ZF information.
The project with the highest chances of being carried out (98.1%) is Colosseum retail park in Bucharest, developed in the Chitila area, whose opening in the autumn of this year has been recently confirmed by the French at Carrefour, the project's main tenant.
Outside Bucharest, the projects most likely to be completed are Maritimo Constanţa (97.7%), Palas Iaşi (88%), Galleria Arad (88%), Electroputere Craiova (86.8%) and Corall Constanţa (84.7%).
Only 12 malls and retail parks have real chances of being finalised over the next three years, out of a list of 28 projects started or announced in the past year, reveals a ZF analysis based on the opinions of representatives of seven real estate consultancies.
ZF polled consultancies CB Richard Ellis, Colliers, Cushman & Wakefield, DTZ Echinox, Jones Lang LaSalle, King Sturge and The Advisers Knight Frank, to find out from managers of retail and research departments what percent of the 28 projects proposed by the developers in the past year are likely to
