BELGRADE (Serbia), June 6 (SeeNews) – Israeli company BIG Shopping Centers has signed an agreement to acquire a majority stake in Fashion Park Outlet Indjija in Serbia from Belgrade-based Fashion Company, it said on Thursday.
BIG Shopping Centers has agreed to purchase a 67.5% stake in the project, as Fashion Company will keep the remainder, the Israeli company said in a statement.
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"We intend to continue our growth while expanding our investments into office space and residential area," said Robert Yahav, the CEO of BIG CEE Serbia, a subsidiary of BIG Shopping Centers.
BIG Shopping Centers is building a business centre that will be used by US automated telling machines manufacturer NCR as its main campus in Serbia. The company is also starting its first residential project in the country with the construction of 1,100 apartments in Belgrade, he added.
Fashion Park Outlet Indjia commercial center is located next to the highway between Belgrade and Novi Sad.
Upon completion of the transaction, BIG Shopping Centers will operate four active shopping centers in Serbia, with a fifth one under construction. The company plans to open the BIG Fashion Park in Belgrade by the end of 2019.