South African New Europe Property Investments (NEPI), the largest real estate investor in Romania by asset value, will bring about EUR 40 million in a shopping center in Satu Mare, scheduled to be inaugurated at the end of 2018, a press release informs on Monday.
Satu Mare Shopping City will have a leasable area of approximately 28,000 square meters and, according to the developers, it will become the main regional destination for shopping and leisure.
“Satu Mare Shopping City will be aligned to the highest standards, continuing NEPI’s recipe for success applied to all commercial centers released so far,” the investment group, which also owns in Romania projects such as Mega Mall and Promenada Mall, stated.
The new mall will bring a complete mix of shopping and entertainment, with national and international brands, a hypermarket, an ultra-modern cinema and a food court with restaurants, cafes and fast food locations.
“NEPI’s investment in Satu Mare represents more than just the opening of a regional shopping center. Even though many of the people from Satu Mare felt the absence of a mall, the waiting was worth it, because the shopping center will be built to the latest standards and, therefore, will be a location based heavily on community’s’ needs, to provide the best leisure options. Our goal is to bring in Satu Mare all our services and products that people need, so they can invest their time and money locally, not in other district”, Sebastian Mahu, Asset Manager NEPI said.
Complementing the construction works on the shopping center, NEPI aims to achieve a series of improvements in infrastructure by building a roundabout, by carrying out two streets adjacent to the mall and by contributing to the build of a footbridge over Somes, which will facilitate the transition between the two parts of the city.
Satu Mare Shopping City will be built on an area of approximately 6 hectares and will provide approximately 1,000 parking places to its visitors. The parking will be arranged on two levels and will be provided with a ramp for easy access.