New members join ICSC Romanian Committee

A number of top retail real companies active in Romania have joined the International Council of Shopping Centers (ICSC) Romanian Committee. These include Immoeast, Baneasa and RED, ICSC said in a press release.

The ICSC Romanian National Committee was set up in 2007 to provide the opportunity for ICSC members to meet and network in Romania. The committee is organising the annual retail real estate conference, being held this year in Bucharest on 30 September, as well as other networking and information sharing and professional development events throughout the year. It also provides information to retailers and investors considering expansion into the Romanian market.

Ermine Amies, Managing Director for ICSC in Europe, said: 'This firmly establishes that the retail real estate industry is committed to work together in Romania and the industry’s confidence in ICSC to support the Romanian Committee’s effective not for profit platform for knowledge-building, debate and networking. It also shows the strong leadership of Baneasa, ImmoEast and RED - we are grateful to them.'

Whilst the Romanian retail real estate industry continues to hold up relatively well despite the global economic downturn, international property consultants report that retailers are becoming more selective when seeking new space and rental pricing is moving in their direction.

Elke Schoepf, Retail Asset Manager at Immoeast GH, which holds one of the largest property portfolios in the CEE/SEE/CIS region, said: 'The ICSC Romanian National Committee is a great platform for strengthening our business ties and building up new partnerships, as well as sharing our experience with others.'

Ali Ergun Ergen at Baneasa said: 'The main players in the Romanian retail market will be defined through their future roles in the market development. ICSC gives us the opportunity to contribute to market development because the main objective of this organisation is to help us communicate better and to achieve solutions to help growth in our industry. '

Andrew Hardy of RED said: 'International retailers have been entering Romania in increasing numbers since EU accession in 2007 and RED believe the association with ICSC will further enhance international retailers' awareness of the exciting retail opportunity that Romania offers.'