Real estate investment fund New Europe Property Investments (NEPI) and French retailer Auchan have signed an agreement to expand the hypermarket Auchan Pitesti, part of a redesign and renovation plan. The amount invested by NEPI for the 3,500 sqm addition to the retail park in Pitesti is EUR 5 million, according to the company.

The net sales area of ​​the Auchan hypermarket will reach 12,500 sqm, which will make it one of the biggest hypermarkets outside Bucharest.

“This large increase in sales area will allow us to further expand the product range, while maintaining small permanent price”, said Tiberiu Danetiu, Marketing Director Auchan Romania.

NEPI is the first real estate investment fund which was listed on the Bucharest Stock Exchange (BVB), on June 20. It is also listed on on the Johannesburg Stock Exchange and London Stock Exchange.

Irina Popescu, irina.popescu@romania-insider.com