Investment fund NEPI Rockcastle, the largest mall owner in Romania, has started working on expanding its Promenada shopping mall and a new office building to be integrated with the shopping center, Ziarul Financiar reported.

The work begins almost seven years after NEPI-Rockastle bought the mall from Raiffeisen Evolution.

The fund received permission in early 2019 to start work on the future project's underground structure.

NEPI-Rockcastle's decision to start work comes in the context of many office developers postponing the decision to start work, only those investing in shopping centers continuing expansion.

In 2020, even though retail was affected during the spring lockdown, customers returned to shopping malls in the second half of the year.

(Photo: Pixabay)

andrei@romania-insider.com