Speaking at the Profit.ro Conference “Romanian Real Estate Market under Western Economic Pressure”, Florentin Avădanei, Co-CEO of Goldbach Group, emphasized the substantial untapped potential of Romania’s modern retail sector – particularly in small and medium-sized communities, where access to contemporary retail infrastructure remains limited.

“The potential for retail development is enormous,” said Avădanei. “Consider this: 44% of Romania’s population lives in rural areas. Even if we discount 10% for communes near major urban centers, we’re still left with roughly 34% of the country completely underserved by modern retail – people who don’t have access to a clean, functional shopping space with an adequate range of products.”

He pointed out that despite economic headwinds, Romania has undergone a remarkable transformation in the past decade.

“The standard of living has improved dramatically over the last 10 years,” Avădanei noted. “Sure, there are always challenges. But if you look at how land prices have evolved – seven years ago, we bought a plot in a county capital at €55 per square meter. Today, you won’t find anything under €160–180 per square meter in the same city. Land prices have effectively tripled in the last 10 years.”

This upward trajectory in both economic growth and land value, coupled with rising consumer expectations, has created an environment ripe for continued investment in retail infrastructure. As Avădanei explained, Goldbach Group’s retail development model relies on a direct connection with local communities across the country.

“I’ve traveled a lot throughout Romania – that’s what being a retail developer requires: seeing the places, understanding the community pulse. And things are undeniably better than 10 years ago. Better than five years ago. The direction is positive. At Goldbach, we are optimistic. We believe this year will be a good one – but next year will be even better,” he added.

With over 13 years of experience, Goldbach Group is a diversified holding structured into specialized companies active in civil and industrial construction, real estate development, urban planning, architectural design, renewable energy, and EU funds consultancy. Each division operates independently while contributing to a unified vision: to become a market leader in every sector in which the group is active.

Read the article here. Original publication date: 04.06.2025