New Europe Property Investment Plc: Mirela Covasa

Mirela Covasa has been the Chief Financial Officer of New Europe Property Investment since February 2015.

Mirela Covasa joined NEPI in February 2012 as Finance Manager and was responsible for financial reporting. She graduated with a Finance Degree from Bucharest Academy of Economic Studies and is a member of the Association of Chartered Certified Accountants (ACCA) and Chamber of Financial Auditors of Romania (CAFR). She has worked in accounting and auditing for 13 years. Prior to NEPI she was senior manager at PwC, where she spent eight years performing audit assignments in Romania, Slovenia and India. Prior to that she worked a C & C Sfinx Consulting as an Accountant.

2015 – Present    Chief Financial Officer, NEPI
2012 – 2015         Group Reporting Manager, NEPI
2010 – 2012         Audit Senior Manager, PwC, Romania
2008 – 2010         Audit Manager, PwC, Slovenia
2004 – 2008         Audit Manager, PwC, Romania
2002 – 2004         Accountant, C&C Sfinx Consulting

2009                       Chamber of Financial Auditors in Romania
2004 – 2008         Member, Association of Chartered Certified Accountants
2000 – 2004         Bachelor’s in Finance, Banking, Insurance and Stock Exchange,                                  Academy of Economic Studies of Bucharest

About New Europe Property Investments Plc: New Europe Property Investments Plc is a commercial property investor and developer listed on the Main Board of the (JSE) and the regulated market of the Bucharest Stock Exchange (BVB).

NEPI was founded to acquire, develop and manage regionally dominant retail assets in emerging European Union markets with high-growth potential. The Group built up an exceptional property portfolio and development pipeline in Romania, Slovakia, Serbia, Czech Republic and Croatia and is progressing with a retail expansion programme in other Central and Eastern Europe markets. The Group also invests in A-grade offices in prime locations with significant multinational tenant demand.

The investment strategy is biased towards long-term leases in Euro with strong corporate covenants. On 31 December 2016, the portfolio had an outstanding weighted average lease duration of five years, while 67% of the contracted rentable area was occupied by large tenants and major franchisees.

The Group is internally managed and combines property and asset management with investment and development skills in an integrated approach.

NEPI usually distributes at least 90% of its net rental profits on a semi-annual basis.

NEPI reported a revenue of €209 890 million in 2016.