South-African investment fund New Europe Property Investments (NEPI) will open in June the new wing of the shopping center City Park Mall in Constanta, after a EUR 40 million investment.

NEPI bought the mall with EUR 81 million from Neocity, which had developed the project. It was the largest real estate transaction in 2013.

The shopping center will add a rentable area of 21,000 sqm to its current area, which covers 29,000 sqm, reports local Capital.ro. City Park will also benefit from 1,400 new parking lots.

The new wing will include a cinema with ten halls, a gym, restaurants and clothing stores. The restaurant area and movie theater will open in June whereas the rest will open later, in the second development stage.

editor@romania-insider.com