Given Romania's historically low levels of retail sales, the 26% growth witnessed in 2006 is a reflection of the increasing supply of modern retail facilities. Jones Lang LaSalle forecasts total retail growth per annum will continue at a rate of 10% from 2007 through to 2011.

The Romania Report states:

• Romania is enjoying strong investor interest with [retail] transactions topping €900million from the period Q1-Q3 in 2007
• The number of shopping centres in Romania will increase in number from 21 to 39 by the end of 2008
• Romania offers relatively high yields and good rental growth prospects compared to sub-5% prime shopping centre yields in Western Europe
• New investors since 2004 include Immoeast, Africa Israel, Liebrecht & Wood, Mivan, Dawnay Day, Sonae Sierra and ING among others.
• Foreign Direct Investment (FDI) reached €11billion in 2006.

Charles Krick is Head of Jones Lang LaSalle’s Capital Markets team in Romania, “Starting from a historically low base rate for retail sales, Romania has witnessed a significant increase in activity in 2006 within the retail sector prompting higher levels of investor interest and property development.  Demand for modern retail space from leading international brands continues to increase and our research suggests that Romania is now the sixth most sought after destination in Europe for investors and retailers wishing to enter the Continent’s emerging markets.”

Notes To Editors

1.  The Romania Report will be available on request shortly.  Please contact Euan Blake on +44 (0)207 399 5973 or email euan.blake@eu.jll.com

2.  Jones Lang LaSalle offers a fully integrated retail property service for both landlords and occupiers in Europe.  We have over 300 dedicated retail experts working in 17 countries across the region providing retailers and retail property investors with a full range of services including investment, acquisitions and disposals, tenant representation, leasing, strategic consulting and management services.  Jones Lang LaSalle’s European Retail Capital Markets team has advised on many of Europe’s landmark retail transactions, providing support and direction to clients - international investors and developers - as they enter new markets. In 2006 we advised on over €3.5 billion transactions and in H1 2007 we have already advised on €2 billion.  We have over 120 leasing professionals who are responsible for leasing 6 million sq m of retail space across Europe.