NEPI acquires Delta City malls in Belgrade, Podgorica

The South African investment fund New Europe Property Investments (NEPI) has bought the Delta City shopping malls in Belgrade and Podgorica, the Montenegro daily Pobjeda learns in Vienna, where a deal on the acquisition has been signed.

17 Jan 2020 14:09

PODGORICA - The South African investment fund New Europe Property Investments (NEPI) has bought the Delta City shopping malls in Belgrade and Podgorica, the Montenegro daily Pobjeda learns in Vienna, where a deal on the acquisition has been signed.

Quoting unofficial sources, the paper said talks about the acquisition had been underway for over six months.

The South African investment fund Hyprop Investment bought the two shopping malls from Serbian businessman Miroslav Miskovic for 202.8 mln euros in 2016, the daily said, quoting a report by the Investitor portal.

The Belgrade mall accounted for 127.8 mln euros - more than half of the total - while the one in Podgorica was purchased for 75 mln.

At the time, Miskovic earned 38.1 mln euros from the transaction.

The 48,000 sq m Podgorica Delta City was opened in 2008 and has 75 outlets that employ a total of 1,200 people, while the 85,000 sq m Belgrade mall, which opened a year earlier, has 130 outlets with a total 1,500 employees.

Photo: deltacity.rs

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