December 2 (SeeNews) - Austrian real estate investor and developer Immofinanz Group said it plans to open retail parks under its STOP.SHOP brand in three locations in Serbia.
The retail parks, which should be completed before the end of 2017, are located in Pozarevac, Lazarevac and Vrsac, Immofinanz told SeeNews in an e-mailed statement late on Thursday.
Immofinanz already operates three such parks in Serbia.
The total investment of Immofinanz in Serbia announced so far is 100 million euro ($106.5 million).
The Vrsac retail park, in northern Serbia, will be opened in the third quarter of 2017 and will have a total leasable area of some 8,100 sq m and 330 parking spaces.
The opening of the retail park in Pozarevac, eastern Serbia, with 7,000 sq m of space and a parking lot for 270 cars, is expected in the fourth quarter of next year.
Plans for the STOP.SHOP in central Serbia's Lazarevac include 8,600 sq m of rentable area and nearly 190 parking spaces. The opening is scheduled for the fourth quarter 2017 as well.
"So far, we have had three fantastic Serbian STOP.SHOP openings in Cacak, Nis and Valejvo with thousands of visitors daily and tens of thousands by the opening events," the COO of Immofinanz, Dietmar Reindl, said in the statement.
Immofinanz opened its first STOP.SHOP retail park in Serbia in Cacak in April 2015. The list of tenants includes retailers such as IDEA, LC Waikiki, Deichmann, C&A, McDonald's, Sport Vision, Takko, Tom Tailor and a Cineplexx cinema.
STOP.SHOP is Immofinanz Group’s brand for retail parks in Central and Eastern Europe with catchment areas of 30,000 to 150,000 residents. The STOP.SHOP portfolio includes a total of 67 retail parks in Serbia, Hungary, Poland, Slovakia, Austria, Romania, Czech Republic and Slovenia.
($ = 0.938564 euro)