NEPI begins work on €60m mall in Novi Sad
Construction work on the Promenada shopping center in Novi Sad, Serbia, has officially gotten underway. The new mall is near Spens, at the corner of Bulevar oslobodjenja and Bulevar cara Lazara in Novi Sad. The center will offer more than 140,000 sqm of space and is expected to employ around 1,500 workers. The South African based investor NEPI Real Estate, which has numerous shopping mall around the world, is behind the project. The company entered the Serbian market previously through the acquisition of TC Plaza in Kragujevac. For Promenada, NEPI has chosen one of the most prime locations in Novi Sad. The investment needed to complete the project is being estimated at more than €60m. Completion is expected in time for Christmas in 2018.
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