NEPI Rockcastle would buy more Romanian shopping malls

NEPI Rockcastle, the largest mall owner in Romania, announced that its turnover rose by a double-digit rate compared to 2019, surpassing expectations, based on the savings the Romanians accumulated during the pandemic.

The new management of the company announced that the level of basic rent charged to retailers would be indexed to inflation at the end of the year.

The company also said that it is ready to buy functional malls from competitors, in the context in which it has based so far its expansion on the development of its own projects.

"The Romanian market has one of the strongest growths among the markets in which we operate. We recorded more than double-digit increases in turnover compared to the results of 2019. The increase was well over 10% in March, April and May. We would have been happy to [at least] reach the levels of 2019, which was a very good year. Online sales have increased a lot in the last two years, but now it seems that people are a little bored of online shopping and want to meet acquaintances. We also see this in the slightly declining revenues of online sales," Rüdiger Dany, who replaced Alex Morar at the top of NEPI Rockcastle, said, quoted by Profit.ro.

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