NEPI Rockcastle to develop a new shopping center in Targu Mures, Romania
NEPI Rockcastle, the biggest real estate developer in Romania based on asset value, announced that it will invest EUR50 million in the development of a new shopping center in Targu Mures.
Construction works are scheduled to begin in early 2018 and will be completed by the end of the year.
The new shopping mall in Targu Mures will have a gross leasable area of 50,000 sqm, housing a diverse blend of retail, leisure and entertainment facilities, as well as 1,500 parking spaces.
Its tenant mix will encompass a wide range of local and international brand names, a hypermarket, a state-of-the art cinema, cafes, restaurants and recreational facilities.
“We noticed a demand for a premium retail destination in Targu Mures. Through this investment, we aim to offer a shopping center with an ultra-modern retail and entertainment space, new brands in the market and unique leisure amenities,“ commented Iuliu Bartha, Asset Manager at NEPI Rockcastle.
As announced by the investor, the mall will be built according to the latest international and green building standards and will be BREEAM-certified.
The complex will be located at the intersection of Boulevard 1 Decembrie 1918 and Calea Sighisoarei Street in Targu Mures.
At present, NEPI Rockcaslte operates a number of successful shopping center projects in Romania, including Promenada Mall, Vulcan Value Center in Bucharest, Shopping City Timisoara, Pitesti Retail Park and various others.