NEPI Rockcastle, the largest owner, developer, and manager of shopping centers in Central and Eastern Europe, announces that it has allocated a significant budget dedicated to projects in the development or modernization phase in the medium term.

Thus, the company will allocate over 650 million euros to construction and refurbishment works, representing the largest investment program in commercial retail in Central and Eastern Europe.

NEPI Rockcastle has a portfolio of 168,800 square meters of projects under construction or modernization, already underway or planned for 2024, in Romania, Poland, Bulgaria, and Hungary. The most important ones are:

1. Expansion of Promenada Mall, Bucharest, Romania - a mixed-use project worth approximately 282 million euros, with an area of ​​55,400 square meters, scheduled for completion at the end of 2026.

The project is extensive and involves the excavation of the deepest building basement in Central and Eastern Europe, 26 meters deep, where a parking lot of 2,400 spaces will be built, located on six levels.

2. Development of Galati Retail Park, Romania - the project will cover 33,200 square meters, and the investment will amount to 48 million euros.

3. Development of Promenada Plovdiv, Bulgaria - the new shopping center will occupy an area of ​​60,500 square meters, will generate approximately 1,500 jobs, and the investment amounts to 173 million euros. The project is in the authorization process, and its opening is planned for 2026.

Promenada Plovdiv will be the company's third investment in Bulgaria, alongside Serdika Center and Paradise Center in Sofia. With the opening of the future shopping center, Bulgaria will become the third-largest market in NEPI Rockcastle's portfolio, after Romania and Poland and ahead of Hungary, in terms of gross leasable area (GLA) and asset value.

4. Modernization of Bonarka City Center Mall, Krakow, Poland - a project worth 79 million euros, which includes an architectural redesign to add 4,700 square meters to the initial area of ​​76,300 square meters.

5. Modernization of Arena Mall, Budapest, Hungary - a project worth 31 million euros, with a duration of five years.

Other projects include the expansion of Ploiesti Shopping City, Romania - the project involves adding 7,400 square meters; the expansion of Galeria Wolomin by 2,800 square meters and Pogoria Shopping Centre in Dabrowa Gornicza by 4,800 square meters, both in Poland. The investments amount to a total value of 39 million euros.

Additionally, NEPI Rockcastle intends to expand its successful pilot project, which involved the installation of substantial photovoltaic panels across its entire property portfolio in Romania, in 2022 and 2023.

Currently, these installations produce 25% of the total energy needs of the portfolio in Romania. The installation of photovoltaic panels has proven to be a project that not only aligns with the group's sustainability strategy but also has a positive operational impact.