Mega Mall in Bucharest, one of the largest retail developments of South Africa-listed New Europe Property Investments (NEPI) in the Romanian capital, is expected to be completed soon, the real-estate developer announcing April 23 as release date, the company said in a statement.
Otherwise known as the former Electroaparataj factory site, near National Arena, the shopping center is currently in the last phase of construction, at the building lifting over 2,000 persons have worked.
From a total built area of 210,000 square meters, 72,000 sqm are rented space. The area is almost entirely occupied, and for the few remaining small spaces available, it has been created a waiting list for potential retailers.
Following EUR 165 million investment, Mega Mall will host over 200 stores, among whom are the biggest representative offices of Romania’s famous brands. Some retailers which will occupy generous areas are fashion brands such as Peek&Cloppenburg, H&M, Zara, Mango, Marks & Spencer, C&A, LC Waikiki, Koton, New Yorker, Pull&Bear, Bershka, Stradivarius, Orsay, KENVELO, Lee Cooper, Tom Tailor, NEXT, Tommy Hilfiger and Musette.
The investment comes with original concepts for visitors. Entertainment area features a Cinema City multiplex with 14 rooms, a World Class center fitted with a semi-Olympic pool and a new concept of children’s playground. This zone includes also a sports bar where visitors can see live sports broadcasts and will be able to enjoy live concerts.
Food court area will occupy an impressive area of about 10,000 square meters and will host fast foods, restaurants and other units with varied international cuisine.
Those who will come to visit Mega Mall will have at their disposal a total of 3,000 parking spaces.
NEPI expanded its operations at a very rapid pace in the last years, making large and important acquisitions. The most recent was in 2014, Promenada Mall, bought in a EUR 150 million estimated deal, from Vienna based real estate developer Raiffeisen Evolution.
An important part of the money for these investments came from the capital market, as NEPI is listed in Johannesburg, London and on the Bucharest Stock Exchange.