Its 2016 financial report to the Bucharest Stock Exchange it says the work has experienced ‘material delays’.
“The process of obtaining new zoning and construction permits for Promenada Mall’s retail extension and integrated office building is underway, having experienced material delays,” NEPI report to the Bucharest Stock Exchange reads.
The company has yet to announce the investment for the development at Promenada, and its officials say it is in the planning stage.
NEPI is working on a 30,000 square meter office building integrated into the mall and is also discussing the extension of the retail area.
The retail extension will take Promenada Mall to more than 70,000 square meters lettable area and will include new fashion brands, a multi-screen cinema, additional leisure and entertainment facilities and 1,600 new parking spaces. Delivery had been initially scheduled for 2018.
(English version by Loredana Fratila-Cristescu)