NEPI Rockcastle

Name

NEPI Rockcastle

Legal name

NEPI Rockcastle N.V.

Website

https://nepirockcastle.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Retail Real Estate (Shopping Centres)

NAICS

Lessors of Real Estate (5311), Rental and Leasing Services (532), Real Estate and Rental and Leasing (53)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Retail Real Estate Asset Management (BPAJAMAF)

akta.pro secondary industry

Retail Property Management (BPAJAGAB)

Keywords

• Shopping centre operations
• Retail real estate investment
• Commercial property leasing
• Property asset management
• Retail property development

Headquarters

HQ city

Douglas

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Rental and Related Income: Primary revenue stream from leasing retail, office, and industrial spaces to tenants across shopping centers in Central and Eastern Europe. The company reports net rental and related income on a quarterly basis, with Q1 2026 showing 3.4% rise to €157.7m. The company distributes at least 90% of distributable earnings semi-annually.
2. Renewable Energy: New business stream from 30 operational photovoltaic installations contributing €9.6 million to Group's NOI in 2025. Planned investments of €10 million in 22 on-site PV projects across 6 countries, €70 million in greenfield PV projects expanding capacity by 105MW in Romania, and €47 million in battery energy storage.
3. Media Sales and Advertising: Revenue from advertising campaigns reaching 7.7 million consumers, digital out-of-home (DOOH) screens, brand activations, and omnichannel campaigns across the shopping center portfolio.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels9 records

Core offering

NEPI Rockcastle is the largest owner, operator, and developer of shopping centres in Central and Eastern Europe, holding a portfolio of approximately 60 retail real estate assets across 8 CEE countries with around 2.4 million sqm of gross lettable area. It leases retail space to international and local retailers, restaurants, and service providers, generating the majority of its income from rental contracts, service charges, and asset management activities, while also undertaking extensions, refurbishments, and sustainability upgrades to its existing centres.

Product overview

NEPI Rockcastle operates as the largest listed retail landlord in Central and Eastern Europe, offering a vertically integrated platform of shopping centre ownership, operation, and development. The core product is the retail properties portfolio of 60 shopping centres across 8 countries. Supporting services include leasing and tenant relations, short-term flexible leasing, marketing and commercial partnerships, and digital media sales through the SPOT app and DOOH network. The company also offers strategic development services for new projects and extensions, plus renewable energy operations through on-site photovoltaic installations. The portfolio generates approximately 354 million visits annually with 99% occupancy rate.

Differentiator

Problem solved

Functional benefit

Brands

• NEPI Rockcastle: Leading property owner, operator and developer of shopping centres in Central and Eastern Europe
• Social Story

Products and services

• Shopping Centre Leasing (Retail Space Rental) Long-term leasing of shop, kiosk, and large-format retail space within NEPI Rockcastle's portfolio of approximately 60 shopping centres across 8 CEE countries to international and regional retail, F&B, and service tenants, generating rental income and service charge recoveries.
• Retail Real Estate Development and Extensions Greenfield development, extension, and refurbishment of shopping centres in CEE markets to expand or modernise the portfolio, delivered for and leased out to retail and F&B tenants.
• Property and Asset Management Services Active asset and property management of the shopping-centre portfolio, including facilities operations, tenant coordination, ESG/sustainability programmes, marketing, and reporting, supporting the leased assets and their tenants.
• In-Centre Digital Advertising (DOOH) Sale of advertising space on in-centre digital screens installed across the shopping-centre portfolio, offered to brands, media agencies, and tenants for campaign-based marketing to high-footfall CEE shoppers.

Quantifiable outcome

• 11.2% growth in net operating income to €618m in 2025
• +7 more outcomes

Named customers22 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature2 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• Strate (Pty) LtdminorOthers · 15 December 2025Appointed as cross-border settlement agent for NEPI Rockcastle N.V. effective December 15, 2025, to streamline JSE-Euronext share transfer process and enhance operational resilience.
• DentonsminorImplementation/ SI/ Consulting Partner · 14 July 2025Dentons advised NEPI Rockcastle on a EUR 290 million sustainability-linked loan facility, providing legal advisory services for the transaction.
• Computershare Investor ServicesminorOthersJSE transfer secretary for NEPI Rockcastle handling share registration and transfer matters.
• Java CapitalminorOthersJSE Sponsor providing sponsor services in accordance with JSE Listings Requirements.
• Science Based Targets initiative (SBTi)coreStrategic or Co-development PartnerIndependent organization validating NEPI Rockcastle's near-term emissions reduction targets, ensuring alignment with latest scientific research for credible climate action.
• GRESBcoreStrategic or Co-development PartnerGlobal Real Estate Sustainability Benchmark providing annual ESG performance assessment and ratings for NEPI Rockcastle's standing investments and development projects.
• CDP (Carbon Disclosure Project)coreStrategic or Co-development PartnerInternational organization assessing NEPI Rockcastle's climate change and water security disclosures and performance annually.
• SustainalyticscoreStrategic or Co-development PartnerESG risk assessment provider rating NEPI Rockcastle's ESG risk as Negligible, supporting investor decision-making.
• MSCIcoreStrategic or Co-development PartnerESG ratings provider assigning NEPI Rockcastle AAA rating (leader status) on scale AAA-CCC.
• EPRA (European Public Real Estate Association)coreStrategic or Co-development PartnerIndustry association providing Best Practices Recommendations for financial and sustainability reporting. NEPI Rockcastle holds Gold Awards for BPR and sBPR compliance.

Scale indicators33 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• CPI Property Group: CPI Property Group is the largest real estate conglomerate in CEE, with significant retail mall exposure across the same geographies as NEPI Rockcastle. It is a direct competitor for dominant shopping center assets in Czech Republic, Poland, Hungary, and Romania.
• Atrium European Real Estate: Atrium European Real Estate was historically a leading CEE-focused retail real estate company owning shopping centers across the same region as NEPI Rockcastle. Despite delisting, it remains a comparable operator in the CEE retail landlord space.
• Echo Investment: Echo Investment is a major Polish retail and office developer with significant shopping center holdings (e.g., Galeria Młociny, Galeria Amber), directly competing in the Polish retail real estate market where NEPI Rockcastle owns key assets like Silesia City Center.

Broad incumbents

• Unibail-Rodamco-Westfield: URW is Europe's largest listed retail REIT with flagship shopping centers across Western Europe and a similar premium-mall operator model. Comparable in business model (large shopping centers, international tenants) but operates in more mature Western markets.
• Citycon: Citycon is a Nordic-listed retail REIT operating shopping centers in the Nordics, Baltics, and Czech Republic. Operates the same shopping-center landlord model serving international retail tenants in overlapping CEE-adjacent geographies.
• Wereldhave: Wereldhave is a European retail REIT operating full-service shopping centers in the Netherlands, Belgium, and France. While geographically distinct from CEE, it shares the focused shopping-center landlord model and tenant mix priorities.
• Klépierre: Klépierre is a leading European retail REIT owning and operating large shopping centers across Continental Europe. It shares the same core business model of dominant mall ownership and leased retail space to international brands.
• Hammerson: Hammerson is a UK-listed retail REIT with flagship shopping centers across the UK, Ireland, and France. Comparable as a dominant shopping-center operator serving international retail tenants, though focused on Western European premium locations.
• Mercialys: Mercialys is a French retail REIT focused on large regional shopping centers serving major retail tenants. Comparable in operating model (dominant regional mall landlord) though exclusively French in footprint.

Regional players

• Globe Trade Centre (GTC): GTC is a CEE-focused real estate developer and operator with assets in Poland, Hungary, Romania, Croatia, Serbia, and Bulgaria. While more office-heavy, it overlaps with NEPI Rockcastle on retail assets and the same CEE geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@nepirockcastle
• LinkedInlinkedin.com/company/nepi-rockcastle
• Xx.com/nepi_rockcastle
• Facebookfacebook.com/NEPI-Rockcastle-100063761717227

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries9 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NEPI Rockcastle