NEPI opens Galati mall 6 months after construction started

Newsroom 21/11/2013 | 15:29

Real estate investment fund New Europe Property Investments (NEPI) opened this Thursday a shopping mall in Galati, eastern Romania, the first of this kind in the 250,000 –inhabitant city. The project’s construction took 6 months.

Following the opening of Shopping City Galati, NEPI’s total retail stock in Romania increases to 200,000 sqm. The developer plans to start another three retail projects by year end – Mega Mall in Bucharest, Vulcan Strip Mall Bucharest and Targu Jiu Shopping City.

Shopping City Galati has a total built area of 33,000 sqm and is fully leased, according to company representatives. Tenants include H&M, C&A, Deichmann, NewYorker, Altex, Intersport, Leonardo, Reserved, Domo, CCC, Puma, Killtec and Flanco. The mall is anchored by a 7,500 sqm Carrefour hypermarket.

The project in Galati is the fifth shopping center opened this year in Romania. The first was the Uvertura Mall Botosani developed by Romanian businessman Danut Prisecariu. Located in Botosani, in the north-east of the country, the project was opened in March following a EUR 27 million investment. Then followed the EUR 51 million Cora Bratianu in Constanta, which began trading in July, which comprises an 8,600-sqm hypermarket and 50 stores covering another 8,500 sqm.

Then followed the EUR 50 millio AFI Palace Poiesti mall developed by AFI Europe Romania and the Promenada mall in northern Bucharest which was developed by Raiffeisen Evolution. The 35,000-sqm project opened on October 17 following a total investment of some EUR 130 million.