NEPI Rockcastle opens EUR 40 mln shopping mall in Satu Mare

Romania-focused South African commercial property developer and investor NEPI Rockcastle opened a shopping centre in Satu Mare on December 5, following an investment of EUR 40 million. Shopping City has been developed on the land of former furniture factory Sarmex, which went bankrupt. This is the 18th shopping centre in the portfolio of the real estate developer, estimated at EUR 1.8 billion. The shopping centre has a total leasable area of around 29,000 square metres and hosts 85 shops and a Carrefour hypermarket with a total area of 7,500 square metres. The project has generated more than 900 jobs. Separately, also in Satu Mare, Immochan announced in November the second stage of development for its mixed project Aushopping Satu Mare that will spread over 7 hectares. Out of the total, 2 hectares will be used for the development of a shopping centre around the existing Auchan hypermarket and another 5 ha will be used for residential developments. Immochan Romania paid some EUR 1.5 million for the 7 hectares of land adjacent to Auchan hypermarket and will develop a shopping centre with a leasable area of 10,000 sqm. NEPI Rockastle sets opening date for EUR 40 mln mall in Northern Romania editor@romania-insider.com (photo source: Facebook / Kereskényi Gábor)