The panel for Romania at MAPIC 2011 sent a clear and positive message "There couldn't be a better time to invest in Romania"

The Romanian Retail Real Estate market was analyzed for the first time during MAPIC, the no.1 Retail Real Estate exhibition. The conference titled "Romania 2012-2014. The New Era of Romanian Retail" was organized by MORE Real Estate Services and was held in the second day of the exhibition, on the 17^th of November.

The topics under discussion included:

 Consumption GDP rose during 2011. Can Romania be considered a rising economy again?

 The pipeline of many new developments and the differences compared to the past

 How do existing Malls reply to the competition?

 Is there still room to grow in the following years?

 How do retailers see these new developments?

Mr. Ilias Papageorgiadis, CEO of MORE Real Estate Services, was moderator of the panel and the speakers were 3 top professionals and well-known players that are, currently, active in the Romanian Retail segment:

 Mr. Ali Ergun Ergen, CEO of Baneasa Shopping City

 Mr. Christopher Shonn, CEO of Argus

 Mr. Sony Mordechai, Chairman and CEO of Global Eye Investments

You can watch the full version of the conference here.

Mr. Ilias Papageorgiadis, CEO MORE Real Estate: "When someone knows what he wants to do and is well prepared, Romania gives him the opportunity to develop a successful project."

Ilias Papageorgiadis opened the discussion, presenting the official announced figures for the GDP and consumption in Romania, followed by an overview of the retail projects that are currently under development. "It looks like the period of decline has ended and there is cause for sustainable growth in the up-coming months and years, although the country still faces challenges in the future. One thing is clear: the only segment in Romania that is really advancing is RETAIL. The conclusion is that when someone knows what he wants to do and is well prepared, Romania gives him the opportunity to develop a successful project."

Mr. Ali Ergun Ergen, CEO of Baneasa Shopping City: "There couldn't be a better time to invest in Romania."

Mr. Ali Ergun Ergen, one of the most successful developers in the country, was very optimistic about the future of retail in Romania. "There couldn't be a better time to invest in Romania. We have a stable environment and the expectations of lenders and retailers are much more aligned. The economic growth has not been a major one but it's stable and sustainable. The new generation of projects has better locations, designs and retail format, with a better tenants mix than in the past. As a company, we are studying and preparing several new investments, in the food and leisure segments, including a large in-door and out-door activity facility. In the fashion segment, the new directions for us include a focus on the Luxury segment. Potential investors have to be careful what project, location and management they choose but the country has a great potential in the Retail segment."

Mr. Christopher Shonn, CEO of Argus: "Romania is experiencing growth and we will see an acceleration in the process as Romania will start absorbing European funds."

Mr. Christopher Shonn, one of the most experienced professionals in the Romanian Retail market, made a point of underlining the importance of the European funds to the acceleration of Romania's economy. "I believe that in the next 18-24 months the economy will grow slowly but unlike neighboring countries, Romania is experiencing growth and we will see an acceleration in the process as Romania will start absorbing European funds. The recent surge of developing projects has been fueled by the continued expansion across country of hypermarkets, DIY store operators and the willingness of well-known brands to expand in the market. The Retail segment isn't prominent just in the capital but also in the rest of the country. Accessibility is very important; consumers want the same retail experience that they would receive in Bucharest and other cities in Europe. Our stores are full sized stores and are attracting the who's who of retailers. As soon as we create new spaces or opportunities within the shopping centers, we are able to lend them. It's inevitable to have new projects and developments as not everyone is present everywhere, so there is definite room for growth."

Mr. Sony Mordechai, Chairman and CEO of Global Eye Investments: "If you have the know-how, Romania is the place to invest In"

A well-known retailer in Romania, Mr. Sony Mordechai, was more than clear: "If you have the know-how, Romania is the place to invest in. It's a big market, not very rich but very safe. As a company, we have recently acquired existing projects that we believe will reach their full potential in the next 5 years. The new generation of projects is at an European level, the market is more open and ready to learn. You can get good deals and there is a market for them, as there are many niches that are, at present, unexploited such as: 5 star hotels, spas, big toy retail, health clubs ... these are segments that the market needs and will acquire in the future. We are, finally, experiencing stabilization within the market and the new trend for consumers is ‘value for money'. We see that across the board: from the sports market to the premium market. "

It should be mentioned that the panel lasted for 45 minutes, consisting of 7 rounds of questions and answers, including questions from the audience. All speakers were accurate and fast in their replies, keeping up the tempo of the discussion.