About Us
NEPI Rockcastle is the leading owner and operator of shopping centres in Central and Eastern Europe, present in eight countries with a diversified portfolio of premier retail assets managed through an integrated, in-house platform.
About Us
NEPI Rockcastle is the leading owner and operator of shopping centres in Central and Eastern Europe, present in eight countries with a diversified portfolio of premier retail assets managed through an integrated, in-house platform.
NEPI Rockcastle
NEPI Rockcastle is the premier owner and operator of shopping centres in Central and Eastern Europe (CEE), with a presence in eight countries and an investment property value of €8.2 billion as at December 2025.
The Group benefits from a highly skilled internal management team which combines asset management, development, investment, leasing, and financial expertise.
NEPI Rockcastle owns and operates 60 properties which attracted 354 million visitors in 2025 (347 million visits in 2024). With group‑level management of tenant relationships and a focus on cross‑country collaboration, the Group is the leading strategic partner for major retailers targeting CEE countries.
The Group’s financial strategy includes maintaining a profile of adequate liquidity, conservative gearing, and a diverse debt structure, which combines secured and unsecured bank debt with unsecured bonds listed on the Irish Stock Exchange. NEPI Rockcastle is investment‑grade rated by Standard & Poor’s (BBB, positive outlook) and Fitch (BBB+, stable outlook).
NEPI Rockcastle’s shares are listed on the Johannesburg Stock Exchange (“JSE”), Euronext Amsterdam (“Euronext”), and A2X. The Group voluntarily distributes at least 90% of its distributable earnings on a semi‑annual basis.
Our Values
Key milestones
A timeline of the major milestones behind NEPI Rockcastle’s growth, portfolio expansion, and strategic evolution.
2025
Strong leasing and active asset management sustain robust performance across CEE. The nearly €300 million Promenada Mall extension in Bucharest is underway, the region’s largest retail project, featuring 55,400 m2 of Gross Leasable Area and blending retail, offices, a four-star hotel, a theatre, and Romania’s most advanced cinema to attract diverse visitor segments. The Group’s first photovoltaic power plant (54 MW) has been launched in Chisineu-Cris (Arad, Romania).
2024
Acquisition of two of the most attractive retail properties in Poland, Magnolia Park in Wroclaw and Silesia City Center in Katowice. Disposal of Promenada Novi Sad in Serbia. Successful issue of €500 million green bond and €300 million equity raise, the first such endeavour since 2017.
2023
The Group completed the development of Promenada Craiova, a 63,700m2 Gross Leasable Area retail scheme in one of Romania’s largest regional cities, and Vulcan Residence, a residential project in Bucharest with 254 apartments. Installation of photovoltaic panels in 27 retail locations in Romania owned by the Group. Agreed a €387 million green unsecured sustainability-linked loan facility (subsequently increased to €445 million), syndicated by the International Finance Corporation (IFC)
2022
Acquisition of the remaining 50% stake in Ploiesti Shopping City (Romania) and two properties in Poland: Forum Gdansk and Copernicus Shopping Centre. Relocation of the parent company to the Netherlands.
2021
Prolongation of the COVID-19 pandemic impacted the Group’s results for the year. Tenants’ sales rebounding to at least 2019 levels as soon as restrictions were lifted or relaxed. Concluding the first bilateral agreement with International Finance Corporation (‘IFC’) for €73.5 million green funding. Disposal of two Serbian retail properties, Kragujevac Plaza and Krusevac Shopping Park, in line with the Group’s strategy to focus on core dominant properties in countries with investment grade credit rating.
2020
Weathering the most challenging period in the Group’s history – the COVID-19 pandemic. Achievement of two important strategic transactions: disposal of the Romanian office portfolio, followed by a series of €500 million green bonds (Implementation of the Green Finance Framework). Successfully opened a new shopping centre in Targu Mures, Romania.
2019
Completion of several extensions to Romanian and Polish properties and finalisation of the Romanian greenfield development, Promenada Sibiu. Disposal of its 50% interest in The Office, Cluj-Napoca. Successful issue of two series of €1 billion unsecured bonds and the repurchase of €202 million from the bonds maturing in 2021.
2018
Acquisition of three leading properties in Poland, Slovakia and Hungary. First Lithuanian acquisition (Ozas Shopping and Entertainment Centre). Opening of the group’s first greenfield development in Serbia, Promenada Novi Sad. Further consolidation in Poland and Romania, through greenfield and brownfield developments.
2017
Merger of NEPI with Rockcastle (a significant real estate company operating in Poland and Czech Republic), creating the largest retail real estate group in CEE. Listing of the newly merged company on two stock exchanges, JSE and Euronext Amsterdam (‘Euronext’). Market entry into Bulgaria and Hungary, with the acquisition of prime assets in Sofia and Budapest, taking NEPI Rockcastle’s presence to a total of eight CEE markets. Finalisation of The Office, Cluj-Napoca development project, through the opening of its third phase. Successful issue of €500 million unsecured bond under its EMTN programme launched during the year.
2016
Finalisation of the Shopping City Timisoara greenfield project, through the opening of its second phase. Acquisition of the remaining 30% of Mega Mall interest. First Croatian and Czech Republic acquisitions – Arena Centar in Zagreb and Forum Usti nad Labem. Further consolidation of the position in Romania and Slovakia, through the acquisitions of Shopping City Sibiu, Korzo Shopping Centrum and Aupark Shopping Center Piestany respectively and extensions of City Park, Severin Shopping Centre and Braila Mall.
2015
Completion of Mega Mall in Bucharest, Romania. Acquisition of Iris Titan Shopping Centre. Opening of the first phase of Shopping City Timisoara. Finalisation of the second phase of The Office, Cluj-Napoca. Successful issue of €400 million unsecured bond, first Group’s transaction on debt capital markets.
2014
Consolidation of the position in Romania, through the acquisition and development of additional retail properties, such as Buzau Shopping City, Promenada Mall Bucharest, Vulcan Value Centre and Shopping City Targu Jiu. Completion of Phase I of its first office building development in Romania – The Office, Cluj-Napoca (a joint venture arrangement, with NEPI holding 50% interest). First Serbian acquisition (Kragujevac Shopping Centre). Consolidation of the position in Slovakia, through the acquisition of Aupark Kosice Mall and Aupark Kosice Tower. Disposal of its 50% interest in the German portfolio.
2013
Finalisation of four Romanian retail and office acquisitions. Purchase of 70% interest in the Mega Mall project. First Slovakian acquisition (Aupark Zilina). Development of Shopping City Galati and four regional strip centres.
2011-2012
Completion of two-phases extension of Braila Mall. Extension of Retail Park Pitesti. Development of Ploiesti Shopping City in partnership with Carrefour and its first regional strip centre in Brasov. Acquisition of City Business Centre office property in Timisoara, Romania.
2010
Transfer from the AltX to the Main Board of JSE. Internalisation of Investment Advisor, moving to an in-house property management model. Acquisition of its second large retail property in Romania – Retail Park Pitesti, and the top office property in Bucharest, Romania – Floreasca Business Park.
2009
Acquisition of its first large retail property in Romania – Braila Mall, and listing on the Alternative Exchange (‘AltX’) of the Johannesburg Stock Exchange (‘JSE’).
2008
Acquisition of a regional office portfolio in Romania and 50% interest in a German portfolio.
2007
NEPI is established and listed on the AIM market of the London Stock Exchange. First acquisition of a portfolio of four properties located in Romania, in Bucharest, Iasi, Bacau and Brasov.