NEPI Rockcastle invests another EUR 35 M to upgrade Shopping City Sibiu

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Shopping City Sibiu, owned by NEPI Rockcastle, has undergone a modernization and expansion process to reach an area of 90,000 square meters, following an investment of about EUR 35 million, local media informs.

The mall will be expanded by approximately 10,000 square meters, adding a new level that will include a food court and entertainment area as well as an outdoor terrace. Shopping City Sibiu will have a multiplex cinema with 8 halls.

At the end of the upgrading process, the shopping center will host approximately 180 brands.

Modernization works will be carried out in different stages and areas so that the shopping center remains open to visitors.

The modernization of Shopping City Sibiu, inaugurated in 2006, is expected to be completed by the end of this year. NEPI bought Shopping City Sibiu from Argo Group for EUR 100 million in the summer of 2016.

South-African investment fund New Europe Property Investments (NEPI), before the merging with Rockcastle, first invested EUR 20 million in the expansion of Sibiu Shopping City in December 2016.

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