The agreement was signed with the companies controlling the Romanian company, according to a report sent to the Stock Exchange.
New Europe Property Investments Plc (NEPI) has signed the acquisition agreement with the Austrian company Real4You Holding GmbH and with its Hungarian branch, Real Holding Lithium Kft. ("Real4You").
NEPI proceeded through its own subsidiaries, NE Property Cooperatief U.A. and NEPIOM Limited, according to the report.
Real4You is an Austrian real estate developer, with investments in several countries of the Central Europe. ELJ owns the location for the real estate development known as Mega Mall in Bucharest, already approved on the 5.1 ha plot of the former Electroaparataj factory.
The location is well situated, near National Arena, with „good visibility and public transportation access, it is situated in a densely populated area in Eastern Bucharest", details the NEPI’s document.
ELJ obtained the construction permit for a „commercial centre on up to 70,000 sqm, the parties’ intention, according to the agreement, being to develop the centre by mid-2015, when the opening is scheduled.
NEPI’s report also states that commitments were received from the tenants for approx 30% of the planned leasable area.
Furthermore, NEPI closed or discussed a series of other acquisitions the last days, following the successful closing of the recent rights offer from July 2013, of approx. EUR 100 million. (source: economica.net)