Over 75% of the shopping mall’s 40,000 sqm lettable area has been leased.
Over 60% of the mall’s area will be occupied by anchor stores, including a 10,000 sqm Carrefour hypermarket. It will also include a food court area, a multiplex cinema and a playground. The project will also have a 3,500 sqm roof garden.
NEPI’s real estate portfolio in Romania was valued at EUR2.1 billion in 2018, accounting for 36% of its overall assets.
It has recently decided to extend investments in Romania with a series of residential projects to be developed near shopping malls in the cities of Brasov, Bucharest (in the vicinity of Mega Mall and Vulcan), Ramnicu Valcea, Satu Mare and Timisoara, respectively.
In Romania, NEPI owns Mega Mall, Promenada Mall Bucuresti, Vulcan Value Center, Shopping City Timisoara, City Park Constanta, Ploiesti Shopping City, Braila Mall, Galati Shopping City, Shopping City Targu-Jiu, Severin Shopping Center, Shopping City Deva, Shopping City Piatra Neamt and Shopping City Satu Mare.
The company has recently completed the purchase of a nearly 200,000-square meter land in Craiova, where it plans to build Promenada Craiova, one of the largest retail projects in the region of Oltenia, within an investment estimated at EUR110 million.
On a regional level, NEPI Rockcastle owns properties in Romania, Poland, Slovakia, Croatia, Bulgaria, Hungary, the Czech Republic, Serbia and Lithuania, and it keep growing through an expansion program on other markets in Central and Eastern Europe.