NEPI Rockcastle to complete Promenada Mall expansion in Q1 2027

The lease terms have been agreed for 68% of the area that the expansion of Promenada Bucharest will occupy, the opening of which is estimated for Q1 2027, according to NEPI Rockcastle.

The investor has been working for several years on the expansion of the Promenada mall, which upon completion will become one of the most expensive properties in Romania, with a value of almost EUR 500 million.

NEPI Rockcastle's initial plan was to add a multi-storey building to the expansion of the Promenada shopping center, with an area of 58,400 square meters, of which 27,500 square meters were dedicated to office space. The company is now analyzing the option of including in the project a 4-star business hotel with approximately 200 rooms, which would occupy two and a half floors of the new building. Specifically, the office space will also be reduced to two and a half floors from the planned four.

The investment in this project is calculated at EUR 282 million, a large value also because it will have a seven-story underground parking lot with about 1,600 spaces.

Source: Profit.ro