NEPI Rockcastle has revised its plans for the opening of Shopping City Targu Mures, rescheduling it for Q3 2020 after the Romanian government lifts trading restrictions. The shopping centre comprising 39,800m² was completed earlier this year in Q1 2020. The tenant mix includes Carrefour, CCC, Cineplexx, Flanco, eMag, Hervis Sports, Intersport, KFC, LC Waikiki, LPP (Cropp, House, Reserved and Sinsay) and New Yorker.
“COVID-19 had limited impact on revenues during the first quarter (Q1), with social distancing measures causing the closure of most shops starting mid-March. From the beginning of the COVID-19 outbreak, our priority has been ensuring the health and safety of all our customers and staff. Over the last few weeks, in the context of easing of restrictions, a large proportion of retailers have resumed their operations and 63% of the Group’s Gross Leasable Area is currently open. As we begin to collect post-reopening operational data, we are confident that our high-quality portfolio, robust balance sheet and strong liquidity together with our unparalleled know-how of the CEE region remain key strengths for weathering this storm well,” said Alex Morar, CEO NEPI Rockcastle.
