The South-African investments fund New Europe Property Investments (NEPI) reported for the first quarter a net profit of 13.3 million euro, 19% higher than in the same period from last year, of 11.2 million euro, according to a company report. The incomes from rents and other exploitation incomes have doubled to 19.8 million euro, from 9.9 million euro in 2013, according to the financial report sent yesterday to Bucharest Stock Exchange (BSE). Read more
NEPI investments fund will start in October the construction works on the mall next to National Arena from Bucharest, which will require an overall investment of about 150 million euro. New Europe Property Investment (NEPI), who owns real estate assets worth over 600 million euro in Romania, has bought on Wednesday 70% of the project of the commercial center Mega Mall in the east of Bucharest, and plans to build the mall by the middle of 2015.
Mega Mall is a project initiated by the Austrian group Real 4 You in 2007 – 2008, when they bought the land plots of the Electroaparataj factory in Pantelimon neighborhood from NCH US group in a deal worth some 60 million euro. A part of the seven hectares plot was sold to Kaufland, who started recently to build there a hypermarket. On the remaining 5.1 hectares, the Austrians Read more