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February 7, 2023

NEPI – the most important investor on Romanian real-estate market

NEPI (New Europe Property Investments) is the South African investments fund that owns several malls and office buildings in Romania. Bucharest’s Mega Mall and Timisoara’s Shopping City commercial centers are the main ongoing investments operated by the group led by South Africa’s Martin Slabbert, the biggest investor on the local real-estate market.

The constant rise in operational revenues determines NEPI to continue its investments on the local real-estate market, envisaging projects of approximately EUR 560 M in the next two years, projects that will take its portfolio of assets to EUR 1.5 bln.

In a recent presentation to investors, NEPI listed the projects developed or bought this year, but also ongoing investments that will contribute to raising the company’s portfolio by more than 250,000 square meters of office space and commercial space.

The most important ongoing investments are Bucharest’s Mega Mall and Timisoara’s Shopping City, projects that NEPI plans to complete next year.

NEPI has a participation of 70 per cent in the Mega Mall project located on the Electroaparataj platform in Pantelimon and has invested EUR 57.5 M by the end of September. Overall, the company estimates that it will invest EUR 110.4 M in this project, so that the total budget (including the contribution of the Real4You partners) is estimated at almost EUR 160 M.

New Europe Property Investments plc is a commercial property company registered in 2007 in Isle of Man and subsequently listed on the Main Board of the Johannesburg Stock Exchange (share code NEP), the regulated market of the Bucharest Stock Exchange (share code NEP) and the AIM market of the London Stock Exchange (share code NEPI). The shares are transferable among the three registers.

The investment portfolio is currently focused on Romania but could later include other Eastern European countries. The Group focuses on investments in dominant or potentially dominant retail assets but invests opportunistically in offices as well. The investment strategy is biased towards long-term leases in euro with strong corporate covenants.



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