Over 1.4 Million Square Meters of Commercial Premises to Be Built in the Region in the Coming Years

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Over 1.4 Million Square Meters of Commercial Premises to Be Built in the Region in the Coming Years

More than 1.4 mln sq m of commercial premises will be built in Bulgaria, Serbia and Romania in the coming couple of years, experts said on the first day of the Balkan Real Estate Conference (BalREc).

In Bulgaria alone commercial premises are expected to expand by another 770,000 sq m in the next 4-5 years. Analysts say last year was “the year of malls” with 5 shopping centers built in Bulgaria.

The average rents of commercial premises on the main streets vary from 50 to 150 euros/sq m, while rents in shopping centers are in the 20-60 euros/sq m range.
Last year a total of 250,000 sq m of commercial premises were built in Romania with 4 malls built all of them outside Bucharest.

Experts forecast this year the area of commercial premises will expand with another 131,700 sq m, and next year they are expected to increase by another 327,900 sq meters.

Rents of trade centers in Bucharest vary from 25 to 40 euros/sq m, while outside the capital they are from 15 to 25 euros/sq meters. Rents of commercial premises on the central streets of our northern neighbour vary between 70 and 140 euros/sq meter.

A total of 200,000 sq m of commercial premises will be built in Serbia in the coming 3-4 years, Goran Kurija, general manager of EFG Property Services, said at the forum.

Currently there is only one mall meeting all requirements in the country – Mercator. Rents in Serbia vary from 50 to 150 euros/sq m on the central streets and 20-60 euros/sq m in the shopping centers.

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