South-African investment fund New Europe Property Investments (NEPI), the biggest real estate investor in Romania based on asset value, has started the construction work on a new commercial center in Piatra Neamt, in north-eastern Romania.

The mall will be located on the site of the former Sil Foresta factory.

Shopping City Piatra Neamt will have a leasable area of 28,000 sqm and will be opened by the end of this year. The developer has leased over 80% of the mall’s commercial surface so far.

The mall is built on a 7.4-hectare plot NEPI bought in 2014 for EUR 9.3 million from the Sil Foresta factory, which was bankrupt. It will be second largest mall in the city after Galleria, owned by Globe Trade Centre (GTC).

The new mall will also host the first multiplex cinema in the city.

editor@romania-insider.com