ARTICLES LABELLED WITH TAG NEPI Rockcastle

The disposable income gap between CEE economies, which are enjoying solid economic expansion, and stagnating Western European countries is narrowing fast. This is buoying consumer spending in markets like Poland and Romania and attracting international and regional retailers to large modern shopping centres that dominate the CEE’s shopping and experience landscapes, while also offering higher margins and lower costs, NEPI Rockcastle’s latest research concludes.

Property group NEPI Rockcastle has purchased a photovoltaic project in Arad County, Western Romania and plans to start its construction in early 2025.

Property group NEPI Rockcastle has posted a 12.3% growth in net operating income to €411 million in the first nine months of 2024 versus the same period of 2023 over higher rents and short-term income. 

Big CEE, a subsidiary of Big Shopping Centers, has purchased Promenada shopping mall in Novi Sad from Nepi Rockcastle for €177 million, in a record transaction for the Serbian retail market. 

NEPI Rockcastle has acquired the 100,000 sqm Magnolia Park shopping centre in Wroclaw, Poland, from Union Investment in an off-market transaction. The sale price amounts to €373 million. Union Investment acquired Magnolia Park in 2017 for the portfolio of the open-ended real estate fund UniImmo: Europa. 

Property group NEPI Rockcastle has priced a green €500 million unsecured long 7-year Eurobond maturing in January 2032 through its subsidiary NE Property. 

NEPI Rockcastle has completed the expansion works for the Shopping City Ploiești project. 

Nepi Rockcastle is in negotiations to acquire Magnolia Park, a shopping centre located in Wroclaw, Poland from Union Investment Real Estate. The property features 100,000 sqm GLA. The potential acquisition remains subject to the execution of formal written agreements, which is expected to occur in the coming weeks.

NEPI Rockcastle has recorded a 13.5% gain in net operating income to €274 million during H1 2024 versus the same period of last year, while on a like-for-like basis it saw a 10% gain.

Rüdiger Dany, CEO of NEPI Rockcastle, talked to Property Forum about the group’s €650 million development pipeline, demand trends in Central and Eastern Europe (CEE) and its investments in photovoltaic panels across the portfolio of assets.