Galaţi Shopping City

In November last year, NEPI announced the acquisition of a 12,700 sqm plot in Galati. „The group has bought the land for the development of a retail centre anchored by a hypermarket and several international brands. Because of the strong tenants demand, the group intends to develop a commercial centre at this location. The permits obtaining process is going as scheduled. The construction works for the first phase, of approx. 30,000 sqm, will start after the construction permit is obtained.” showed the financial report of the company in February this year.

Târgu Jiu

The most active real estate investor by far is the South-African investment fund NEPI. The company informed the Bucharest Stock in April this year about the buying of several plots of land at the same location on nearly 4ha in Târgu Jiu, where a commercial centre is planned for development, anchored by international tenants.

Vaslui, Alexandria, Sighişoara and Sfântu Gheorghe

Also NEPI plans to build at least four strip-malls, with smaller rentable areas in cities such as Vaslui, Sighişoara, Alexandria and Sfântu Gheorghe. Last year, NEPI bought two plots in Alexandria and Sfântu Gheorge, near Kaufland hypermarkets and this year bought another two plots in Vaslui and Sighişoara. The strip-malls to be built in the neighbourhood of Kaufland units will have rentable areas between 2,300 and 2,800 sqm.

Braşov Shopping City

In 2012, NEPI completed the acquisition and leaseback of a retail construction (including an additional land) from Mobexpert. The assets are in the vicinity of the strip-mall developed by the group in 2011 and of the Carrefour hypermarket in Braşov. The acquisition was made with the intention of combining and developing the properties into a regional centre. Initially, NEPI and Carrefour were willing to develop in Braşov up to 57,000 sqm rentable area, and then decided to increase the mall area. For this purpose, NEPI is negotiating the acquisition of an additional 7,000 sqm plot. The extended regional mall will have approx. 65,000 sqm rentable area and will be integrated with 13,200 sqm retail in the vicinity. The completion of the project is planned for 2014.

Coresi Shopping City Braşov

Immochan, the real estate division of Auchan, obtained the construction permit for the mall in Braşov, announced last year.

Korona Mall Braşov

This mall project was announced before crises and put on hold until October last year, when the developer announced the first tenant. Construction works could be started this year.

Mall on Vulcan platform Bucharest

Here, NEPI partners Benevo, a Canadian company controlled by the businessman Michael Topolinski, which bought at the beginning of 2012 the land of the former factory. A commercial centre will be developed on 25,500 sqm, anchored by a hypermarket and several international brands. The first tenants are Carrefour and KFC. The developers are still in negotiations with several international retailers for renting out the premises. Although the Urban plan was approved in December 2012, later than anticipated but if no further delays occur due to permits, the project will be completed at the end of the year.

Victoria City Lifestyle Retail Center Bucharest

Canada’s Benevo and CD Capital Partners, have signed with Cora retailer for the opening of a new unit in the future mall Victoria City Lifestyle Retail Center, in Bucureştii Noi area, which investment announced in 2010 was EUR 150 million. Last year, Benevo announced the partnership with NEPI for the project, which was dropped afterwards. The construction works for Victoria City Lifestyle Reatail Center will start this year, and the completion is planned for the last quarter of 2014, One of the main tenants is Cora, with a contract for 12,000 sqm. The total rentable area of the mall will be 68,000 sqm.

Parklake Plaza Bucharest

For some years now, the starting of the construction of Parklake Plaza mall in Titan is postponing. In the last financial report of the developer Sonae Sierra, partner for the project, it is specified that the construction works are to start next year.

„During 2012 we concluded the deal with Caelum Development for the development of ParkLake in Bucharest. The construction will start in 2014 and the centre will include 200 stores, for a catchment area of half million people. The project, representing an investment of EUR 185 million, already has signed for 52% of the total of 67,000 sqm rentable area.” the annual report of the Portuguese commercial centres operator Sonae Sierra has shown.

Mega Mall Bucharest

The Austrian Real4You announced the plan to reach 50% occupancy rate for Mega Mall in the next motnhs, a project to be built on the land of the former Electroaparataj platform, followed by the beginning of works. The company has the construction permit since last year. Meanwhile, Kaufland retailer started to prepare the land owned in the former industrial platform for the beginning of a new hypermarket.

AFI Bucureștii Noi

AFI Europe, the developer of AFI Palace Cotroceni, has announced recently the obtaining of the construction permit on the land of the former Laromet factory in Bucureştii Noi and that the construction works could start this year or in the beginning of the next year. (source: economica.net)