NEPI Rockcastle inaugurates Craiova's newest boulevard, an investment of over 10 million euros

by   CIJ News iDesk III
2023-09-29   12:45

NEPI Rockcastle, investor and developer of shopping centres in Central and Eastern Europe, has inaugurated Bulevardul Râului (Calea Severinului - Brestei Street section), the newest artery in the municipality of Craiova. The boulevard, built following a total investment of more than €10 million, was donated to Craiova City Hall and officially handed over today following the inauguration ceremony.

The road has two lanes in each direction and was built to facilitate traffic in the Promenada Craiova area, the city's newest and most modern shopping centre, developed by NEPI Rockcastle, which will open on 5 October. Work on the new boulevard took around 18 months, including the time needed to obtain building permits. The total investment amounted to more than €10 million. NEPI Rockcastle also donated to the municipality a plot of land of about 7,000 square metres, where the green area in the centre of the boulevard has been landscaped.

"Promenada Craiova is a very good example of effective collaboration between local authorities and the private sector. From the very beginning, the municipality has been involved in this partnership and started the process of expropriation in the area, without which the project would not have been possible. Subsequently, as the investors' plans came to life, we took care to create the same environmentally friendly environment with lots of green spaces around the new mall, as we have accustomed the people of Craiova to, no matter which neighbourhood they live in. Last but not least, we have also ensured easy access to the Promenada by launching the longest public transport route in Craiova, which will be served by state-of-the-art buses. I am convinced that NEPI Rockcastle's investment in the region will strengthen Craiova's position as a growing city and increase its attractiveness", said Lia-Olguța Vasilescu, Mayor of Craiova.

The new boulevard, built by NEPI Rockcastle, features roundabouts, intelligent traffic lights, green spaces and cycle lanes.

"We strongly believe in the potential of Craiova, which is already an important regional centre and we believe it can become one of the main business hubs of the country. We wanted to enter this market and have been looking for several years for a site that suits our needs. One of NEPI Rockcastle's major goals, in addition to developing shopping centers of above-market quality, is community involvement. We are glad that by facilitating traffic in the Promenada Craiova shopping center area and beyond, we can give something back to a community that has welcomed us with open arms. I am convinced that the new boulevard will change the lives of the people of Craiova for the better and that it will also be an asset in attracting future investments," added Andrei Radu, Development Director, NEPI Rockcastle.