News Article Craiova development NEPI Rockcastle retail Romania
by Property Forum | Retail

NEPI Rockcastle has announced the acquisition of a 200,000 sqm land in Craiova and plans to construct one of the biggest retail projects in the region of Oltenia. The value of the investment is estimated at approximately €110 million and the construction will start after obtaining all the necessary approvals.

„We are pleased to announce this investment because we have information that more than 400,000 Romanians from the Southwestern region of the country are expecting such a complex project that Promenada Craiova is expected to be. We wish to offer to our visitors a complete experience of both shopping and entertainment, with national and international brands to choose from and many of them will arrive for the first time to Craiova. The concept will be a very special one and is designed following the latest European standards in retail. In this way, we expand our portfolio in Oltenia and we encourage the development of the local economy by creating new jobs opportunities” said Alex Morar, CEO of NEPI Rockcastle.

Promenada Craiova mall will have 70,000 sqm of rentable space with a capacity of more than 150 stores. The retail project, located near the main road of the city and in the next proximity of the biggest residential district, will host, as most important anchors, a hypermarket, a cinema and a DIY shop, Dedeman.

The developer plans to complete the project by Q4 2021.