NEPI Rockcastle opens 136 mln euro shopping centre in Romania

The investment is the most important in Romania's retail sector in the last five years and the largest in Central and Eastern Europe (CEE) in 2023 so far, NEPI Rockcastle said in a press release on Thursday.

The centre, called Promenada Mall, boasts a shopping area of 80,000 sq m, occupied by more than 130 stores. The shopping centre also includes 2,800 sq m parking spaces. The mall directly and indirectly generates more than 1,500 new jobs.

NEPI Rockcastle also invested 7 million euro in a photovoltaic (PV) installation which will provide solar power to the shopping mall, the company also said.

"The high interest from numerous international retailers and the large number of premiere brands highlight the potential of the shopping centre market in CEE and the attractiveness of regional cities in full economic ascent, such as Craiova," said Ruediger Dany, CEO of NEPI Rockcastle.

DIY retailer Dedeman, and electronics retailers Altex and Flanco all said they have opened new stores within the premises of Promenada Mall.

NEPI Rockcastle, incorporated in the Isle of Man, owns and operates shopping centres in nine Central and Eastern European countries. Its shares are listed on the Johannesburg Stock Exchange, Euronext Amsterdam and A2X.

($=0.951999 euro)