„We are frequently approached by the commercial centres owners with ten 50-100 m vacant spaces and they ask for finding them tenants (...). For instance, in Poland there are over 340 commercial centres, with 170 being more than ten years old. Among them, approx. 100 will be refurbished by 2014. In Romania, this happens only for isolated cases, such as Iris Titan or Sibiu Shopping Center“, Ravon said.

She considers that approx. a quarter from the existing commercial centres on Romanian market need modernizations, being already in the maturity phase on the market.

Another example is the Anchor group, which will conduct in the following period a modernization program for its two malls in Romania, Bucureşti Mall and Plaza Romania. Part of the Plaza, strongly impacted by the opening of AFI Cotroceni mall, will be reconverted to offices. The changing of the commercial centre destination was a measure also used by other owners of retail projects (City Mall, Galleria Suceava or Armonia Arad). (source: zf.ro)