With a portfolio of 24 retail parks, 14 of which are under development, for which an investment budget of over 36 million euros has been allocated, K2 Retail Properties aims to consolidate its presence in urban areas with limited access to modern retail. Florentin Avădanei, founder and Co-CEO of Goldbach Group, and Elena Oancea, Co-CEO of Goldbach Group, talk about the key role that retail parks play in the economic and social development of local communities.

How do retail parks developed by K2 contribute to the local economy in small and medium-sized cities?

Elena Oancea: Retail parks represent a clear vector of growth for the local economy. K2 Retail Properties projects focus on small and medium-sized cities in Romania because there we have identified limited access to commercial infrastructure and, therefore, a great potential for development. The contribution of retail parks to the local economy is reflected in the creation of jobs and the increase in municipal revenues. Basically, we bring modern retail close to communities, increase the accessibility of people in these areas to a wide range of products and services and create employment opportunities for them, close to home.

Florentin Avădanei: K2 Retail Properties, part of the Goldbach Group, currently has a portfolio of 24 retail parks in Romania, of which 10 are completed and 14 are under development. So far, our investment in the 24 retail parks reaches 36 million euros. Through these projects, we have already contributed 120,000 euros to local budgets in the form of taxes and created 110 jobs in the network of shopping galleries.

What are K2 Retail Properties’ objectives for the period 2025–2030 and what are the challenges you think you will face in the next five years?

Florentin Avădanei: In the next five years, we aim to continue contributing to the development of retail infrastructure at the national level. We want to consolidate our presence on the food and non-food retail market through sustainable projects that will bring real benefits to small and medium-sized cities in Romania. At this point, our objective is to complete the 14 retail parks under construction by 2027. Thus, we will generate, in total, up to 340 jobs, and our contribution to local budgets will reach approximately 650,000 euros.

Elena Oancea: Regarding the challenges, I believe that a permanent adaptation to the economic and demographic realities of the local market, as well as to the changes in consumer behavior, which are constantly migrating to the digital area, will be needed. We also expect challenges in terms of operational and construction costs and attracting qualified personnel.

Read the article here. Original publication date: 20.06.2025