South Africa’s New Europe Property Investments (NEPI), the largest real-estate investor in Romania asset-wise, has started construction works on a retail centre in Piatra Neamt, located on the grounds of the former Sil Foresta plant.
With a rentable surface area of 28,000 square metres, Shopping City Piatra Neamt will be inaugurated at the end of this year. So far, the developer states that it has signed contracts or is in process of signing contracts for over 80 percent of the project’s rentable surface area.
The future tenants include Carrefour, C&A, CCC, Pepco, Intersport, Benvenuti, Kendra, Orsay, Sensiblu and Zoo Center. The new commercial centre also features a Cinema City, the region’s first multiplex movie theatre. Cinema City will have six movie halls.
Built on a 7.4-hectare plot of land, bought in 2014 for EUR 9.36 M from the bankrupt Sil Foresta plant, Shopping City Piatra Neamt will be the city’s second mall, after Globe Trade Centre’s Galleria mall.
Low revenue has prompted GTC to put Galleria mall up for sale. GTC has announced that it has already signed a purchase commitment.