NEPI Rockcastle halves its investments and money allocated for this year goes to projects started with a focus on residential.
“The group estimates that it will invest EUR 95 million in 2021 in development and capital expenditures related to ongoing projects, and will consider engaging in further development opportunities depending on market developments. The development strategy will aim at diversification with an emphasis on mixed-use and residential projects”, the company’s financial report states.
The company has prepared the necessary documents to obtain construction permits for some of the lands in the portfolio. A number of 250 apartments are planned for construction near Vulcan Value Center and another over 250 apartments could be built near Mega Mall in Bucharest. The company’s plans, however, also provide for the construction of housing in other cities in the country.
