BIG CEE buys two retail parks in Serbia from RC Europe

This transaction is in line with BIG CEE’s strategy of continuing to invest in additional cities throughout Serbia, the company said in a LinkedIn post last week.

The 11,000 sq m Nest Obrenovac and 9,500 sq m Nest Kraljevo retail parks, both with occupancy rate of 100%, will be optimised and rebranded as BIG shopping centres in spring-summer of next year.

RC Europe will use the proceeds from the transaction for the construction and development of the RC Zona logistics park project Samobor in Croatia.

Last month, the European Bank for Reconstruction and Development (EBRD) signed a 100 million euro ($107.8 million) loan agreement with BIG CEE to finance the development, upgrade and acquisitions of modern retail parks and shopping centres in Serbia and the Western Balkans.

BIG CEE BV is a subsidiary of Israel's BIG Shopping Centers. Founded in 1994, Herzelia-headquartered BIG Shopping Centers operates in Israel, the US, France, Serbia and Montenegro.

BIG CEE holds and operates eleven shopping centres in Serbia and two in Montenegro, according to its website.

($ = 0.9275 euro)