Largest mall owner in Romania increases rental income by 70%

Real estate investment fund NEPI, which has a portfolio valued at EUR 1.7 billion, has recorded a net rental income of over EUR 73 million in the first half of the year, up by some 70% compared to the same period last year. Most of the assets owned by NEPI are located in Romania. The company’s income growth was fueled by its new purchases. These included the purchase of the Auchan Titan shopping center in Bucharest, for which the company paid EUR 86 million to the former owner, the company Aberdeen Asset Management. Last year, NEPI also bought the Promenada shopping mall in Bucharest from Raiffeisen Evolution for EUR 148 million. The fund opened in May the largest mall inaugurated in Bucharest in the last five years, namely Mega Mall. The investment amounted to EUR 165 million. NEPI’s properties in Romania were valued at more than EUR 1.3 billion in June 2015. editor@romania-insider.com