Tuesday, 26 May 2026
One of the most interesting questions that came up during the Retail and Mixed-Use panel held at CEDER 2026 was whether Bucharest can sustain another dominant retail scheme. The answer remains a point of contention among the industry experts invited to participate.
Robert Ioniță, Group General Counsel of NEPI Rockcastle argues that the data supports further development, noting that “Bucharest is the fifth region in Europe in terms of GDP per capita”. While he acknowledges that GDP is not the only indicator of spending power, he highlights landmark sites such as Casa Radio, Romexpo, and Gara de Nord as potential locations for future projects. Ioniță cites Warsaw’s Złote Tarasy as a model for what could happen in Bucharest, calling it “one of the most impressive projects that I’ve seen in CEE”.
Mihaela Petruescu, Country Director Property Services Romania & Poland at NHOOD echoes this sentiment, stating firmly, “There is still room for a dominant shopping scheme in Bucharest”. She points out that when looking at figures, Romania remains below other countries in the region, and existing malls are often too crowded to accommodate modern retail requirements. She notes, “International tenants and international players are looking to bring new concepts, extending their stores. And it’s not always very easy to find room in the existing shopping center for a new format”.
However, significant barriers remain, particularly regarding “authorization issues currently in Romania”. Both Petruescu and Ioniță emphasize the need for more “predictability and transparency” in urban planning to allow these innovative schemes to move forward.
A dissenting view comes from Geanina Ungureanu, Head of Retail at CPI Property Group, who believes the city may have reached its limit for massive developments. “There is no longer room in Bucharest for a big shopping center, just subjectively speaking”, she asserts. Instead of a new dominant mall, Ungureanu advocates for a shift toward the “development of the high street in our town, in the old center with old buildings”.
