NEPI willing to invest EUR 1.5 billion in revamping railway stations in Romania, mall at North Station in sight

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The North Station in Bucharest, next to other 15 railway stations in Romania, might be revamped through public-private partnership by NEPI Rockcastle Group, the largest real estate investor in Romania by asset value. A South African group, NEPI owns 24 shopping centres in Romania.

According to a statement made by an official within the Transport Ministry for Club Feroviar, NEPI would be willing to invest EUR 1.5 billion in the rehabilitation of the railway stations in Romania. CFR, Romania’s national rail infrastructure operator, would intend to modernise 47 railway stations in Romania in the future, including the North Station in the Capital city.

NEPI has obtained a profit before tax of EUR 285 million in Romania in 2017, up by almost 30% as against 2016, amid the rise of the renting revenues up to EUR 133 million and following the expansion of the property portfolio.

NEPI owns 24 malls in Romania, totaling 726,000 square metres (almost a quarter of the total stock countrywide) assessed to EUR 1.6 billion. The shopping centres have generated revenues from renting of EUR 116 million, while the retailers’ sales were up by 9.7% last year, and the number of visitors up by 5.3%.

In March this year, NEPI announced on Monday the start of construction works for the 18th commercial center in the Romanian portfolio, in Satu Mare, and invested EUR 35 million to upgrade the Shopping City Sibiu.

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