Nepi Rockcastle N.v · JSE:NRP
Nepi Rockcastle — H1 2016 Earnings Presentation
80 slides from Nepi Rockcastle's earnings presentation, Jun 30, 2016
Slide 1: Results Presentation 30 June 2016
RESULTS PRESENTATION 30 JUNE 2016
Slide 2: Results Presentation – 30 June 2016
RESULTS PRESENTATION – 30 JUNE 2016 1
Slide 3: Company profile
Company profile Leading property investment and development group in the CEE. Largest retail owner and operator in Romania. Exceptional property portfolio and development pipeline in Romania, Slovakia, Serbia and the Czech Republic. Active management of portfolio. Internally managed group, team of 3
Slide 4: Team
Team Balanced Board structure: majority of Independent Non-executives from five countries. Strong internalised management team: high level of knowledge of the CEE market, consistently proving outstanding execution and operational excellence. Effective organisational structure: illustrated by a numbe
Slide 5: Strategy
Strategy Portfolio of dominant retail assets in high-growth European markets. Developing, extending, and acquiring dominant or potentially dominant retail assets. Retail investment criteria: location, access, visibility, design, technical specifications, and extension potential. Office investment cr
Slide 6: NEPI's Portfolio map
NEPI’s Portfolio map RETAIL ROMANIA 1 Mega Mall 21 2 Promenada Mall 3 Shopping City Sibiu 4 Shopping City Timisoara 5 Iris Titan Shopping Center 6 City Park 7 Shopping City Deva 8 Braila Mall Czech Republic 9 Vulcan Value Centre 19 10 Pitesti Retail Park 11 Shopping City Galati 20 18 5 12 Ploiesti S
Slide 7: Highlights
Highlights Recurring distributable earnings per share vs June 2015 (€) 6% 5-year compound annual growth in distribution (€) 14% 5-year compound annual growth in distribution (ZAR) 26%* Adjusted NAV per share growth vs June 2015 7% Major increase in retail asset base GLA vs June 2015 44% Earnings dri
Slide 8: Highlights » continued
Highlights » continued • Entry into Czech market and acquisition of further assets in Romania, Slovakia and Serbia. • 46,200m2 GLA of extensions under construction. • 36,300m2 GLA of developments under construction. • Over 200,000m2 GLA under permitting and pre-leasing. • Brexit: no direct impact. •
Slide 9: Financial performance
Financial performance DISTRIBUTION PER SHARE (euro cents) DISTRIBUTION PER SHARE (ZAR cents) ADJUSTED NAV PER SHARE (€) 20 20% 400 40% 6 15 15% 300 30% 4 10 10% 200 20% 2 5 5% 100 10% 0 0% 0 0% 0 Jun Jun Jun 2009 2010 2011 2012 2013 2014 2015 2009 2010 2011 2012 2013 2014 2015 2009 2010 2011 2012 20
Slide 10: Finance strategy
Finance strategy Current gearing: 24.3%* DEBT MATURITY PROFILE (€m) (targeted: 35%, maximum allowed: 40%). 500 €179 million - issue of new ordinary shares during 2016. 400 Investment grade credit ratings: Baa3 (stable outlook) - Moody’s 300 BBB- (stable outlook) - Standard & Poor’s Rating review exp
Slide 11: Operational highlights (H1 2016 vs H1 2015)
Operational highlights (H1 2016 vs H1 2015) RETAIL OCCUPANCY RATE (%) Occupancy 98.2% (H1 2015: 98.3%) 100% 94.8% 98.2% 94.7% 95.2% 97.7% 98.2% 97.3% 98.1% Like-for-like increase in NOI 4.2% 90% Like-for-like increase in turnover 11.1% 80% Like-for-like increase in footfall 7.7% 70% 60% Decrease in
Slide 12: Operational highlights (H1 2016 vs H1 2015) » continued
Operational highlights (H1 2016 vs H1 2015) » continued RETAIL Drivers for NOI increase Replacements at higher rents; Rental step-ups; Operational cost efficiency; Vacancy decrease (compared to December 2015). Footfall Increase: Deva Shopping City (+87%), Aurora Buzau (+29%), Ploiesti Shopping City
Slide 13: Portfolio structure
Portfolio structure SECTORAL PROFILE 80+18+2S 80+19+1S 82+17+1S Jun 2015 Retail 80% Office 18% Dec 2015 Retail 80% Office 19% Jun 2016 Retail 82% Office 17% 82+15+3S 83+14+3S 81+13+24S Industrial 2% Industrial 1% Industrial 1% Jun Dec Jun GEOGRAPHICAL PROFILE 2015 2015 2016 Romania 82% Romania 83% R
Slide 14: Top retail tenants by rent
Top 10 retail tenants by rent Auchan 8.1% Carrefour 6.1% H&M 1.6% Inditex Group* 1.6% Altex 1.5% New Yorker 1.4% C&A 1.4% Kingfisher 1.4% Peek&Cloppenburg 1.2% Deichmann 1.2% * Bershka, Massimo Dutti, Oysho, Pull and Bear, Stradivarius and Zara. RESULTS PRESENTATION – 30 JUNE 2016 13
Slide 15: Top office tenants by rent
Top 10 office tenants by rent PricewaterhouseCoopers 1.3% Wipro 1.3% Huawei 0.9% Holcim 0.7% Bosch 0.5% Hella 0.5% Accenture 0.5% Autoliv 0.4% Betfair 0.3% Yardi 0.3% RESULTS PRESENTATION – 30 JUNE 2016 14
Slide 16: Contracted gross rent
Contracted gross rent 160 140 120 100 80 60 40 20 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Retail Office Industrial Weigthed average remaining duration is 5.1 years RESULTS PRESENTATION – 30 JUNE 2016 15
Slide 17: Macroeconomic prospects
Macroeconomic prospects Real GDP growth (%) 5 4 3 2 1 0 2016 2017 2018 2019 2020 Romania Slovakia Serbia Czech Republic EU28 Price inflation (%) (EU harmonised) 4 3 2 1 0 (1) (2) 2016 2017 2018 2019 2020 Romania Slovakia Serbia Czech Republic EU28 RESULTS PRESENTATION – 30 JUNE 2016 16
Slide 18: Macroeconomic prospects » continued
Macroeconomic prospects » continued General gov. debt (% of GDP) 100 80 60 40 20 0 2016 2017 2018 2019 2020 Romania Slovakia Serbia Czech Republic EU28 Unemployment (%) 20 15 10 5 0 2016 2017 2018 2019 2020 Romania Slovakia Serbia Czech Republic EU28 RESULTS PRESENTATION – 30 JUNE 2016 17
Slide 19: 10-year forecasted growth
CEE private consumption forecasted growth 120% 120% Serbia 100% €25bn 100% Baltic 10-year forecasted growth countries 80% €52bn 80% Bulgaria Romania €28bn €104bn 60% Slovenia 60% Poland €20bn €258bn Hungary €56bn Slovakia Czech €45bn Republic 40% Croatia €81bn 40% €26bn EU 15 20% 20% 0 0 €2 000 €3 0
Slide 20: Developments and acquisitions completed in 2016
Developments and acquisitions completed in 2016 Development Shopping City Timisoara - fashion and entertainment section (31 March 2016) Land for development Ramnicu Valcea (11 March 2016) Novi Sad (20 May 2016) Acquisitions Forum Ústí nad Labem (29 February 2016) Shopping City Sibiu (31 March 2016)
Slide 21: Developments and acquisitions completed in 2016 » continued
Developments and acquisitions completed in 2016 » continued 4 Czech Republic 5 Slovakia Romania RETAIL ROMANIA 1 1 Shopping City Timisoara 2 2 Shopping City Sibiu 3 Mega Mall 30% CZECH REPUBLIC 3 4 Forum Ústí nad Labem SLOVAKIA 5 Korzo Shopping Centrum RESULTS PRESENTATION – 30 JUNE 2016 20
Slide 22: Shopping City Timisoara
Shopping City Timisoara TIMIS, ROMANIA TIMIS COUNTY 696 000 INHABITANTS TIMISOARA CITY 334 000 RESULTS PRESENTATION – 30 JUNE 2016 21
Slide 23: Shopping City Timisoara
Shopping City Timisoara CATCHMENT AREA 45’ - 570 000 30’ - 341 000 15’ - 158 000 NEPI’s Shopping City TImisoara (57,700m2) Iulius Mall (66,500m2) RESULTS PRESENTATION – 30 JUNE 2016 22
Slide 24: Shopping City Timisoara
Shopping City Timisoara TIMIS, ROMANIA First phase (16,300m2 GLA hypermarket and Ownership 100% gallery) opened in November 2015. Type Regional mall Second phase (41,400m GLA fashion and 2 entertainment) opened in March 2016. Lettable area 57 700m2 Property value €98.1 million Cinema City is unique
Slide 25: Shopping City Timisoara
Shopping City Timisoara TIMIS, ROMANIA RESULTS PRESENTATION – 30 JUNE 2016 24
Slide 26: Shopping City Timisoara
Shopping City Timisoara TIMIS, ROMANIA RESULTS PRESENTATION – 30 JUNE 2016 25
Slide 27: Shopping City Timisoara
Shopping City Timisoara TIMIS, ROMANIA RESULTS PRESENTATION – 30 JUNE 2016 26
Slide 28: Shopping City Timisoara
Shopping City Timisoara TIMIS, ROMANIA FIRST FLOOR GROUND FLOOR RESULTS PRESENTATION – 30 JUNE 2016 27
Slide 29: Forum Ústí nad Labem
Forum Ústí nad Labem ÚSTÍ NAD LABEM, CZECH REPUBLIC ÚSTECKÝ COUNTY 824 000INHABITANTS ÚSTÍ NAD LABEM CITY 93 000 RESULTS PRESENTATION – 30 JUNE 2016 28
Slide 30: Forum Ústí nad Labem
Forum Ústí nad Labem CATCHMENT AREA 45’ - 478 000 30’ - 326 000 15’ - 108 000 NEPI’s Forum Ústí nad Labem (27,800m2) OC Pivovar Děčin (17,500m2) Olympia Teplice (29,000m2) Galerie Teplice (22,000m2) Fontana Teplice (18,000m2) RESULTS PRESENTATION – 30 JUNE 2016 29
Slide 31: Forum Ústí nad Labem
Forum Ústí nad Labem ÚSTÍ NAD LABEM, CZECH REPUBLIC Ústí nad Labem is situated at an important Ownership 100% railway junction; the highway connecting the city to Prague and Dresden is scheduled for Type Regional mall completion in 2016. Lettable area 27 800m2 Forum is the only mall in the city, loc
Slide 32: Forum Ústí nad Labem
Forum Ústí nad Labem ÚSTÍ NAD LABEM, CZECH REPUBLIC RESULTS PRESENTATION – 30 JUNE 2016 31
Slide 33: Forum Ústí nad Labem
Forum Ústí nad Labem ÚSTÍ NAD LABEM, CZECH REPUBLIC RESULTS PRESENTATION – 30 JUNE 2016 32
Slide 34: Forum Ústí nad Labem
Forum Ústí nad Labem ÚSTÍ NAD LABEM, CZECH REPUBLIC THIRD FLOOR SECOND FLOOR FIRST FLOOR GROUND FLOOR basement level parking not shown RESULTS PRESENTATION – 30 JUNE 2016 33
Slide 35: Shopping City Sibiu
Shopping City Sibiu SIBIU, ROMANIA SIBIU COUNTY 400 100 INHABITANTS SIBIU CITY 170 000 RESULTS PRESENTATION – 30 JUNE 2016 34
Slide 36: Shopping City Sibiu
Shopping City Sibiu CATCHMENT AREA 45’ - 286 000 30’ - 231 000 15’ - 172 000 RESULTS PRESENTATION – 30 JUNE 2016 35
Slide 37: Shopping City Sibiu
Shopping City Sibiu SIBIU, ROMANIA Sibiu is an important cultural centre, with Ownership 100% modern infrastructure (including three rail stations and an international airport with direct Type Retail park connections to other European countries). Lettable area 79 100m2 Shopping City Sibiu is the fir
Slide 38: Shopping City Sibiu
Shopping City Sibiu SIBIU, ROMANIA RESULTS PRESENTATION – 30 JUNE 2016 37
Slide 39: Shopping City Sibiu
Shopping City Sibiu SIBIU, ROMANIA RESULTS PRESENTATION – 30 JUNE 2016 38
Slide 40: Mega Mall
Mega Mall BUCHAREST, ROMANIA BUCHAREST 1 883 000 INHABITANTS RESULTS PRESENTATION – 30 JUNE 2016 39
Slide 41: Mega Mall
Mega Mall CATCHMENT AREA 30’ - 910 000 15’ - 600 000 5’ - 110 000 NEPI’s Mega Mall (75,500m2) Baneasa Shopping City (85,000m2) Afi Palace Cotroceni (76,000m2) Sun Plaza (80,000m2) NEPI’s Iris Titan Shopping Center (45,000m ) 2 Bucuresti Mall (37,400m ) 2 NEPI’s Promenada Mall (40,400m2) Park Lake (o
Slide 42: Mega Mall
Mega Mall BUCHAREST, ROMANIA 100% ownership, as of 31 May 2016; the Ownership 100% transaction will be recognised in the financial statements of the 3rd quarter of 2016 (as Type Mall Competition Council’s approval was received in July 2016). Lettable area 75 500m2 Mix of over 200 tenants, including
Slide 43: Mega Mall
Mega Mall BUCHAREST, ROMANIA RESULTS PRESENTATION – 30 JUNE 2016 42
Slide 44: Mega Mall
Mega Mall BUCHAREST, ROMANIA RESULTS PRESENTATION – 30 JUNE 2016 43
Slide 45: Mega Mall
Mega Mall BUCHAREST, ROMANIA THIRD FLOOR SECOND FLOOR FIRST FLOOR GROUND FLOOR BASEMENT LEVEL -1 (UNDERGROUND PARKING) NOT SHOWN RESULTS PRESENTATION – 30 JUNE 2016 44
Slide 46: Korzo Shopping Centrum
Korzo Shopping Centrum PRIEVIDZA, SLOVAKIA TRENCIN REGION 591 000 INHABITANTS PRIEVIDZA CITY 48 000 RESULTS PRESENTATION – 30 JUNE 2016 45
Slide 47: Korzo Shopping Centrum
Korzo Shopping Centrum CATCHMENT AREA 45’ - 308 000 30’ - 144 000 15’ - 78 000 RESULTS PRESENTATION – 30 JUNE 2016 46
Slide 48: Korzo Shopping Centrum
Korzo Shopping Centrum PRIEVIDZA, SLOVAKIA Acquired in July 2016 (therefore not Ownership 100% consolidated in the H1 financial results). Type Mall Dominant retail scheme in Prievidza, one of the Lettable area 16 500m2 largest municipalities in the Trencin region. Property value €29.5 million Part o
Slide 49: Korzo Shopping Centrum
Korzo Shopping Centrum PRIEVIDZA, SLOVAKIA RESULTS PRESENTATION – 30 JUNE 2016 48
Slide 50: Korzo Shopping Centrum
Korzo Shopping Centrum PRIEVIDZA, SLOVAKIA RESULTS PRESENTATION – 30 JUNE 2016 49
Slide 51: Korzo Shopping Centrum
Korzo Shopping Centrum PRIEVIDZA, SLOVAKIA FIRST FLOOR GROUND FLOOR Level -1 (underground parking) not shown RESULTS PRESENTATION – 30 JUNE 2016 50
Slide 52: Acquisitions, developments and extensions pipeline
Acquisitions, developments and extensions pipeline ACQUISITIONS PIPELINE (€ MILLION) JUN 2016 DEC 2015 )400( )200( 0 200 400 600 800 Finalised* Committed Further opportunities under due dilligence Further opportunities DEVELOPMENTS AND EXTENSIONS PIPELINE (€ MILLION) JUN 2016 DEC 2015 )400( )200( 0
Slide 53: Schedule of developments and extensions
Schedule of developments and extensions Target GLA of Weighted Weighted opening existing GLA of yield cost to date Weighted Type Category date Ownership property development on cost (June 16) total cost % m2 m2 % €m €m Developments under construction 146 200 82 500 8.9 83.3 138.2 Shopping City Piatr
Slide 54: Developments
Developments 5 Romania SATU MARE 1 UNDER CONSTRUCTION 6 PIATRA NEAMT 7 CLUJ-NAPOCA 1. Shopping City Piatra Neamt VASLUI 2. City Park extension - Phase II 3. Braila Mall extension 5 4. Severin Shopping Center extension - Phase II 6 5. Sfantu Gheorghe Strip Mall extension SFANTU SIBIU GHEORGHE GALATI
Slide 55: Shopping City Piatra Neamt
Shopping City Piatra Neamt DEVELOPMENT UNDER CONSTRUCTION CATCHMENT AREA 15’ - 90 000 30’ - 180 000 45’ - 245 000 NEAMT COUNTY 460 000 INHABITANTS PIATRA NEAMT CITY - 116 000 NEPI’s Shopping City Piatra Neamt (27,900m2) Winmarkt Petrodava (10,460m2) GTC Gallery (13,200m2) RESULTS PRESENTATION – 30 J
Slide 56: Shopping City Piatra Neamt
Shopping City Piatra Neamt DEVELOPMENT UNDER CONSTRUCTION PIATRA NEAMT, ROMANIA The plot is located in a densely populated area of the city, at the intersection of two main arteries that cross the town, well serviced Ownership 100% by local transportation. Estimated lettable area 27 900m2 Estimated
Slide 57: City Park extension - Phase II
City Park extension - Phase II DEVELOPMENT UNDER CONSTRUCTION CATCHMENT AREA 45’ - 541 000 30’ - 435 000 15’ - 305 000 CONSTANTA COUNTY 684 000 INHABITANTS NEPI’s City Park (*51,400m2) Maritimo Shopping Center (51,300m2) Tom Mall (32,000m2) Tomis Mall (18,800m2) CONSTANTA CITY - 319 000 * GLA estima
Slide 58: City Park extension - Phase II
City Park extension - Phase II DEVELOPMENT UNDER CONSTRUCTION CONSTANTA, ROMANIA The mall has a central location in Constanta, the fifth largest city in Ownership 100% Romania, close to the country’s most popular seaside resort. Lettable area - Property in use 28 600m2 Estimated lettable area - Exte
Slide 59: Braila Mall extension
Braila Mall extension DEVELOPMENT UNDER CONSTRUCTION CATCHMENT AREA 45’ - 575 000 30’ - 258 000 15’ - 173 000 BRAILA COUNTY 308 200 INHABITANTS BRAILA CITY - 213 000 NEPI’s Braila Mall (54,400m2) NEPI’s Shopping City Galati (27,200m2) RESULTS PRESENTATION – 30 JUNE 2016 58
Slide 60: Braila Mall extension
Braila Mall extension DEVELOPMENT UNDER CONSTRUCTION BRAILA, ROMANIA The food court area was refurbished in spring 2016. The Ownership 100% additional extension is based on strong tenant demand and Lettable area - Property in use 54 400m2 will transform the centre into a regional fashion destination
Slide 61: Severin Shopping Center extension
Severin Shopping Center extension DEVELOPMENT DEVELOPMENTSUNDER UNDERCONSTRUCTION CONSTRUCTION CATCHMENT AREA 45’ - 175 000 30’ - 138 000 15’ - 102 000 MEHEDINTI COUNTY 256 100 INHABITANTS DROBETA TURNU SEVERIN CITY - 111 000 NEPI’s Severin Shopping Center (20,900m2) Cora Gallery (11,200m2) RESULTS
Slide 62: Severin Shopping Center extension
Severin Shopping Center extension DEVELOPMENT UNDER CONSTRUCTION MEHEDINTI, ROMANIA The new brands signed, C&A and dm have upgraded the Ownership 100% shopping centre’s visibility and market positioning, generating Lettable area - Property in use 20 900m2 a major increase in footfall. Estimated lett
Slide 63: Sfantu Gheorghe Strip Mall extension
Sfantu Gheorghe Strip Mall extension DEVELOPMENT UNDER CONSTRUCTION COVASNA, ROMANIA The Group has decided to extend this strip mall based on Ownership 100% good results of the existing scheme and strong demand for Lettable area - Property in use 1 600m2 additional commercial space. Estimated lettab
Slide 64: The Office - Phase III
The Office - Phase III DEVELOPMENT UNDER CONSTRUCTION CLUJ, ROMANIA The Office is an A-grade office development. Ownership 50% Works on Phase III started in January 2016. Lettable area - Property in use (Phases I and II) 40 700m2 Estimated lettable area - Phase III 18 500m2 Various current tenants e
Slide 65: Victoriei Office
Victoriei Office DEVELOPMENT UNDER CONSTRUCTION BUCHAREST, ROMANIA The development is located in Victoriei Square, adjacent to Ownership 100% the Romanian Government building. It includes a modern Lettable area 8 400m2 office and the refurbishment of a historical building. Estimated rental value €2.
Slide 66: Promenada Mall extension
Promenada Mall extension DEVELOPMENT UNDER PERMITTING AND PRE-LEASING CATCHMENT AREA 30’ - 940 400 15’ - 176 500 5’ - 30 400* BUCHAREST 1 883 000 INHABITANTS NEPI’s Promenada Mall (40,400m2) Baneasa Shopping City (85,000m2) Afi Palace Cotroceni (76,000m2) NEPI’s Mega Mall (75,500m2) *does not includ
Slide 67: Promenada Mall extension
Promenada Mall extension DEVELOPMENT UNDER PERMITTING AND PRE-LEASING BUCHAREST ROMANIA The centre is located in the new central business district, near NEPI’s Floreasca Business Park and The Lakeview. Ownership 100% Lettable area - Property in use 40 400m2 The extension will includes additional mix
Slide 68: Novi Sad Mall
Novi Sad Mall DEVELOPMENT UNDER PERMITTING AND PRE-LEASING CATCHMENT AREA 45’ - 607 000 30’ - 354 000 15’ - 211 000 VOJVODINA REGION 1 902 000 INHABITANTS NOVI SAD CITY - 250 000 RESULTS PRESENTATION – 30 JUNE 2016 67
Slide 69: Novi Sad Mall
Novi Sad Mall DEVELOPMENT UNDER PERMITTING AND PRE-LEASING NOVI SAD, SERBIA Novi Sad is the second largest city in Serbia, 70 km from the capital, Belgrade, and is connected by an international highway to Ownership 100% Budapest, Vienna, Belgrade, Zagreb and Skopje. Estimated lettable area 56 000m2
Slide 70: Novi Sad Mall
Novi Sad Mall DEVELOPMENT UNDER PERMITTING AND PRE-LEASING NOVI SAD, SERBIA RENDER RESULTS PRESENTATION – 30 JUNE 2016 69
Slide 71: Ramnicu Valcea Mall
Ramnicu Valcea Mall DEVELOPMENT UNDER PERMITTING AND PRE-LEASING CATCHMENT AREA 45’ - 314 500 30’ - 156 200 15’ - 115 000 VALCEA COUNTY 363 300 INHABITANTS RAMNICU VALCEA CITY - 119 000 NEPI’s Ramnicu Valcea Mall (27,900m2) River Plaza Mall (12,400m2) Winmarkt (11,400m2) Kaufland (6,000m2) RESULTS P
Slide 72: Ramnicu Valcea Mall
Ramnicu Valcea Mall DEVELOPMENT UNDER PERMITTING AND PRE-LEASING VALCEA, ROMANIA The Group has acquired a 12 ha land plot, close to a Ownership 100% residential neighbourhood. Estimated lettable area 27 900m2 There is no modern dominant retail offering in the city (the Targeted opening Q4 2017 only
Slide 73: Ramnicu Valcea Mall
Ramnicu Valcea Mall DEVELOPMENT UNDER PERMITTING AND PRE-LEASING VALCEA, ROMANIA FIRST FLOOR GROUND FLOOR RESULTS PRESENTATION – 30 JUNE 2016 72
Slide 74: Shopping City Galati extension
Shopping City Galati extension DEVELOPMENT UNDER PERMITTING AND PRE-LEASING CATCHMENT AREA 45’ - 559 000 30’ - 368 000 15’ - 310 000 GALATI COUNTY 524 500 INHABITANTS GALATI CITY - 306 000 NEPI’s Shopping City Galati (27,200m2) NEPI’s Braila Mall (54,400m2) RESULTS PRESENTATION – 30 JUNE 2016 73
Slide 75: Shopping City Galati extension
Shopping City Galati extension DEVELOPMENT UNDER PERMITTING AND PRE-LEASING The extension will include a cinema, food court and additional GALATI, ROMANIA fashion offering, that will transform the centre into a regionally dominant one. The extension will create a common Ownership 100% access and par
Slide 76: Shopping City Satu Mare
Shopping City Satu Mare DEVELOPMENT UNDER PERMITTING AND PRE-LEASING CATCHMENT AREA 45’ - 288 000 30’ - 182 000 15’ - 130 000 SATU MARE COUNTY 340 000 INHABITANTS SATU MARE CITY - 123 000 NEPI’s Shopping City Satu Mare (17,400m2) Ankora Mall (6,000m2) RESULTS PRESENTATION – 30 JUNE 2016 75
Slide 77: Shopping City Satu Mare
Shopping City Satu Mare DEVELOPMENT UNDER PERMITTING AND PRE-LEASING SATU MARE, ROMANIA The development will be the regionaly dominant retail Ownership 100% scheme, located in the centre of the city. Estimated lettable area 17 400m2 Targeted opening 2017 The tenant mix will include food and fashion
Slide 78: Shopping City Sibiu
Shopping City Sibiu DEVELOPMENT UNDER PERMITTING AND PRE-LEASING SIBIU, ROMANIA The Group plans to refurbish and extend the existing Ownership 100% shopping centre, including a cinema and a larger food Lettable area - Property in use 79 100m2 court area. Estimated lettable area - Extension 16 900m2
Slide 79: Vaslui Strip Mall extension
Vaslui Strip Mall extension DEVELOPMENT UNDER PERMITTING AND PRE-LEASING VASLUI, ROMANIA Based on the strong tenant demand in the area, the group has Ownership 100% decided to extend the existing scheme with an additional Lettable area - Property in use 1 800m2 2 800m2 GLA fashion offering. Estimate
Slide 80: Results Presentation – 30 June 2016
RESULTS PRESENTATION – 30 JUNE 2016 79