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BUCHAREST (Romania), November 8 (SeeNews) - Real estate investment trust (REIT) New Europe Property Investments Rockcastle (NEPI Rockcastle) said on Wednesday will open a 40 million euro ($46.2 million) shopping mall in the southern city of Ramnicu Valcea on December 7.
The 27,900 sq m shopping mall will be the main shopping and leisure destination in the region, generating hundreds of jobs and contributing to the growth of local economic activity, NEPI said in a press release.
Besides international tenants, the shopping centre will also host local brands. Also, starting 2018, the mall will accommodate the largest and most modern cinema multiplex in the region - Cinema City - equipped with six movie theatres.
Besides the Ramnicu Valcea mall, the company has announced a 90 million euro total investment in two shopping malls in Romania's Targu Mures and Satu Mare this year.
At the beginning of November, credit rating agency Fitch assigned NEPI Rockcastle a first-time Long-Term Issuer Default Rating (IDR) of BBB with a stable outlook.
($ =0.8646 euro)