NEPI Rockcastle has confirmed plans for a substantial expansion of the Promenada Bucharest shopping center. This ambitious project aims to transform the existing mall into a larger, mixed-use destination, catering to retail customers, hotel guests, and importantly, businesses in need of modern office facilities.

 

 

The total area of the planned extension spans 58,400 square meters. Initially, the design included a significant portion dedicated to office spaces. While the plan has evolved to incorporate a 4-star business hotel with approximately 200 rooms across two and a half floors, office space remains a key component.

 

The area allocated for offices has been adjusted from the initial four floors to two and a half floors in the revised scheme. Despite this change, the project still offers valuable commercial real estate in a highly sought-after area of Bucharest.

 

Timeline and Availability

The delivery of the Promenada Bucharest extension structure is anticipated in the fourth quarter of 2026. The full opening of the expanded center, including the new office areas and hotel, is estimated for the first quarter of 2027.

 

Demand for space within the extension appears strong, with terms already agreed for the leasing of 68% of the total extended area. This high pre-lease rate suggests that available space, particularly for offices, may become limited closer to the opening date.

 

The total investment in this large-scale project is calculated at 282 million euros, highlighting NEPI Rockcastle's commitment to developing premium real estate assets in Romania.

 

Strategic Location Benefits

Locating your business within the Promenada extension offers numerous advantages:

- Prime address in a well-established commercial hub.

- Proximity to retail, dining, and entertainment options.

- Potential access to amenities provided by the integrated business hotel.

- Excellent connectivity within Bucharest.

 

Businesses interested in securing space in this major new development should monitor its progress closely, especially given the high percentage of leased area already reported.

Source: radarimobiliar.ro