NEPI Rockcastle invests EUR 100 mln in new mall in Sibiu

NEPI Rockastle, the biggest mall owner in Romania, plans to open a new mall in Sibiu at the end of next year, following a total investment of EUR 100 million. The investment fund bought earlier this year a land plot in Sibiu and the project of the Festival mall from the local Tanasoiu family for EUR 21 million. The new mall, located on the plot of the former Simerom factory, near the Sibiu train station, will have a leasable area of 42,200 sqm. Its tenants will include the CineGold multiplex network, the fashion retailers that are part of Inditex group (Zara, Bershka, Massimo Dutti, Oysho, Pull & Bear, Stradivarius) and fashion retailer New Yorker. German discounter Kaufland will also open its first store in a mall. NEPI Rockcastle also plans to complete the 9,600 sqm extension of the Sibiu Shopping City mall, which it bought from Argo in 2016 for EUR 100 million. The mall has 79,100 sqm and is the only such project in Sibiu at the moment. Its tenants include Auchan and Carrefour hypermarkets, a Leroy Merlin do-it-yourself store and many other local and international brands. NEPI will also open a mall in Satu Mare, at the end of this year, and is working on getting the permits for a mall in Targu Mures. The fund has a portfolio of EUR 5.2 billion in Romania, Poland and the region, and made a net profit of EUR 149 million in the first six months of this year. NEPI pays EUR 21 mln for mall project in Sibiu editor@romania-insider.com