May 16 (SeeNews) - Real estate investment trust (REIT) New Europe Property Investments Rockcastle (NEPI Rockcastle) is opening a 12 million euro ($13.5 million) retail part in the Croatian capital Zagreb on Thursday, local media reported.
The retail centre, Arena Park, covers 8,000 square metres of commercial space, daily Poslovni Dnevnik reported. It is located close to Arena Centar, the largest shopping mall in Zagreb, which NEPI acquired in November 2016 together with 4.4 ha of adjacent land.
Tomislav Dekalic, the head of NEPI for Croatia, told the daily last month that with Arena Park the investor intends to strengthen the position and offering of Arena Centar and make its location more attractive to shoppers.
Dekalic said that since the acquisition, NEPI has invested an overall 30 million euro. Out of them, 18 million euro went for expanding Arena Centar by additional 6,000 square metres of retail space. The remainder was spent on Arena Park.
($ = 0.8918 euro)