South African real estate investment company NEPI Rockcastle, the biggest mall owner in Romania, has invested EUR 528 million in some large shopping centers in Romania’s neighboring countries Bulgaria and Hungary.

It acquired Arena Plaza, the second largest mall in Budapest, with EUR 275 million, as well as Paradise Center, the largest mall in Sofia, with EUR almost 253 million.

Arena Plaza covers 66,000 sqm. It is located in the Eastern part of Budapest, close to the international railway station. NEPI Rockcastle still waits for the Competition Council’s permit to take over Paradise Center in Sofia, which covers 82,000 sqm.

Earlier this year, the company bought the Serdika Center shopping center in Sofia from S Immo. The acquisition price reached EUR 207.4 million.

NEPI Rockcastle is the largest real estate company in Central and Eastern Europe. Its portfolio in Romania includes shopping centers such as Mega Mall and Promenada Mall, in Bucharest, as well as office buildings such as Floreasca Business Park, The LakeView in Bucharest and The Office in Cluj-Napoca.

NEPI Rockcastle invests EUR 50 mln in new mall in central Romania

editor@romania-insider.com

(photo source: Paradise Center on Facebook)