Nine new malls will be built in Bucharest between 2008 and 2010, Romanian newspapers reported.

The biggest one, Controceni Park Mall, will be situated on an area of 80,000 sq m, while Sun Plaza and Sema Park will have an area of 76,000 and 71,000 sq m respectively.

Baneasa Shopping City and Galeria will also have impressive areas – 65,000 sq m and 60,000 sq m respectively.

Currently there are five malls in Bucharest which are almost fully occupied. Romanian brokers forecast the market would become oversaturated with the launching of all the new malls and prices, which are currently at 30-60 euros/sq m might even fall.

For the past couple of years big foreign building companies have entered the Romanian market. Some of them such as the French Euromall is currently building malls in Galati and Piteshti, and there are plans for similar projects in Krayova and Ploest.