NEPI Rockcastle is refining its structure, strengthening its growth engines and exploring opportunities beyond its core CEE markets, while maintaining a strong focus on asset quality and active management. In an exclusive interview with Property Forum, we talk to incoming CEO Marek Noetzel and incoming CIO Anca Nacu as they officially step intro their new roles today.

Marek Noetzel, who officially takes the helm as the new CEO of NEPI Rockcastle today, has completed the formation of the company’s Executive Committee with Anca Nacu appointed Chief Investment Officer and Justyna Bartosz promoted to Group Leasing Director. Marius Barbu’s appointment as Chief Operating Officer and his nomination as a Board Director were announced at the end of last year. These appointments represent internal promotions, and NEPI Rockcastle’s entire senior leadership team now consists of experienced Group employees who have largely built their careers within Europe’s third-largest listed retail real estate company by portfolio value.

NEPI Rockcastle, the largest owner of shopping centres in CEE, said its net operating income rose 11.2% year-on-year to a record €618 million in 2025, while the distributable earnings increased 6.7% to €441 million.

In a video interview recorded at CEE Property Forum 2025 in Vienna, Marek Noetzel, COO of NEPI Rockcastle and incoming CEO from April 2026, shares his outlook on retail trade across the region, the company’s growth strategy and his priorities for the next phase of leadership.

Retail developers continue to accelerate expansion plans across Romania, with projects totalling more than 750,000 sqm currently in construction and planning stages for delivery until 2029, according to a report by Cushman & Wakefield Echinox.

Office development activity in Bucharest accelerated over the past year, with the volume of projects currently under construction exceeding 200,000 sqm of gross leasable area, the highest level since 2021. At least eight new office buildings are expected to be delivered by the end of 2028, according to a report by Cushman & Wakefield Echinox.

Nepi Rockcastle has opened a 5,000 sqm extension to its 37,500 sqm Pogoria Shopping Centre in Dąbrowa Górnicza, attracting seven new retailers to the mall. 

Nepi Rockcastle has appointed Marius Barbu as COO, effective from April 2026, to succeed Marek Noetzel, current COO and CEO-designate. He has also been nominated as a Board Director and will stand for election at the next AGM in May 2026.

NEPI Rockcastle delivered strong operational performance in the third quarter of 2025, with net operating income rising 12.3% year-on-year to €461.3 million for the first nine months. The retail real estate company maintained low vacancy rates at 1.6% and achieved collection rates of 99%.

Andrei Radu, Group Development Director at NEPI Rockcastle, talked about the developer’s focus on net zero with a €100 million investment in clean energy production. With the recent launch of a 54 MW solar park in Romania, the group expects to cover almost 50% of its total CEE electricity needs by 2026, offering cost control and doing the "heavy lifting" for tenants.