EMCC European Monitoring Centre on Change

Neocity Group

Company/Organisation:
Neocity Group

Geographic Location

Country: Romania
Region: Constanta; Sud-Est
Location of affected unit(s): Constanţa

Company

Sector: Construction
Construction
41 - Construction of buildings
Group: Neocity Group

Employment Effects

Announcement Date: 29-03-2006
Type of Restructuring: Business expansion
Employment Effect Start: 31-07-2007
Planned Job Creation: 2000

Additional Information

On 29 March, Neocity Group (Israel) began construction of City Park Mall in Constanţa, the largest shopping-, leisure- and entertainment project in the city so far. The investment amounts to EUR 50 million and will create 2,000 new jobs. This is the first in a series of investment projects planned for 2006-2009 by the above mentioned group which will total EUR 1 billion. Constanţa was targeted because it is the largest seaport in Romania with a very good geo-strategic position on the Romanian Black Sea coast. The following target is Bucharest, with six projects totalling investments of EUR 100-300 million.