Ali Ergun Ergen, CEO of Băneasa Developments, which managesBăneasa retail park in northern Bucharest, says the crisis is athing of the past for the project he runs, after reporting a 10-15%rise in visitor and sales numbers against last year.
The manager signals the appetite for consumption of inhabitantsin the city's most expensive area, with 75% of the visitors ofBăneasa Shopping City coming from sectors 1, 2 and 3 of Bucharest,where homes are 20-30% more expensive than the Bucharestaverage.
"Băneasa (Shopping City i.e.) has definitely left the crisisbehind," Ergun told ZF in an interview. "I cannot say the same forthe entire retail market, but September and October were betterthan last year, November was slightly weaker, but December startedout well," added the head of Băneasa.
Ergun manages spaces that accommodate at least 300 stores inBăneasa Shopping City operate, with the mall also includingCarrefour, IKEA, Bricostore and Mobexpert stores.
Other malls in Romania have seen business pick-up, at least in thepast few weeks, amid the nearing of winter holidays and amidpromotional offers organised by retailers. The market has in thepast few years gotten rid of weaker players, so that, whilst someprojects are improving their performance, others have run out ofsteam, with the biggest failure so far being that of the City Mallproject, which entered bankruptcy proceedings.
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