Nevertheless, the fund reported net losses of EUR4.5 million, sharply up compared with EUR256,000 in January-March 2015.
The results come after NEPI bought Iris Titan project in a EUR86 million transaction last year and inaugurated Shopping City Timisoara earlier this year, following an investment of EUR83.8 million.
NEPI’s portfolio includes Mega Mall, Mall Promenada, Vulcan Value Center, CityPark Constanta, Ploiesti Shopping City, Braila Mall, Galati Shopping City, Shopping City Targu-Jiu, Severin Shopping Center and other shopping centers countrywide, as well as in Serbia and Slovakia. NEPI also owns office buildings Floreasca Business Park, The LakeView in Bucharest, City Business Centre in Timisoara and The Office in Cluj.
New Europe Property Investments is an investment group listed on the Johannesburg Stock Exchange (JSE), on the London Stock Exchange (LSE), and on the Bucharest Stock Exchange (BVB).