NEPI buys 1.2 ha plot near Promenada Mall

NEPI bought a 1.2 ha plot near its Promenada Mall in Bucharest. The developer is planning to build a class A office building on the land. The price of the deal was not disclosed. “The land is covered in terms of urban development for the construction of a new office building of approximately 50,000 sqm,” NEPI said in a statement released to the Bucharest Stock Exchange. The company intends to make the office building a part of its shopping mall but must first apply for a zoning change before it can move forward with the extension.