South Africa’s NEPI acquires shopping malls in Hungary, Bulgaria for €528mn

South Africa’s NEPI acquires shopping malls in Hungary, Bulgaria for €528mn
By bne IntelliNews September 25, 2017

South African fund NEPI Rockastle said it has acquired two new shopping centres – in Hungary and Bulgaria – for a combined €528mn.

The fund, which purchased another shopping centre in Bulgaria earlier this year, claims to be the biggest mall owner in Romania and the largest real estate company in Central and Eastern Europe. It is one of several South African investors that have ramped up investment in the region, where they now rival investors from Asia and North America in terms of volume. 

In Hungary, NEPI bought the second largest shopping centre in Budapest – Arena Plaza – for €275mn, while in Bulgaria it has signed a deal worth €253mn for the biggest mall in Sofia, Paradise Center, the company said in a statement on the Bucharest Stock Exchange. The Bulgarian deal should be approved by the anti-trust authority.

In August, Bulgaria's competition regulator granted approval to NEPI to acquire Serdika Center shopping mall in Sofia, Serdika Office building and the land on which the properties are built, for €207.4mn.

Related Articles

V4 leaders positive after dinner with European Commission president

The head of the European Commission Jean-Claude Juncker held talks with leaders of the Visegrad Group at a nearly three-hour dinner on October 19.  The dinner on the eve of the EU summit was ... more

Wizz Air applies for UK license as it prepares for Brexit turbulence

Hungary-based no-frills airline Wizz Air has set up subsidiary in the United Kingdom and is considering acquiring an air operators certificate (AOC) in preparation for possible negative impacts ... more

Hungarian retail investors continue to pile into domestic government bonds

The stock of government bonds held by households rose by HUF154bn (€500mn) September to an all-time high of HUF6.5 trillion, Hungary’s Government Debt Management Agency (AKK) said on October 16. ... more

Dismiss