Bojovic Draskovic Popovic & Partners is advising the Poseidon Group on the spring 2019 extension of its Capitol Park brand of retail parks to the eastern Serbia city of Zajecar.
The investment is valued at EUR 10 million.
According to BDPP," Capitol Park Zajecar will be the Poseidon Group’s fifth retail park in Serbia and brings new shopping and leisure facilities to eastern Serbia. The project will provide 18 stores of leading Serbian and international brands in 6,500 square meters of retail space built on a 20,000 square meter site. Among the brands that will join Capitol Park Zajecar are JYSK, Nefa furniture, Studio Moderna, Extreme Intimo, Opposite shoes, Djak sport, Lilly, LC Waikiki, New Yorker, Deichmann, Sinsay, and N Sport. It will also boost the economy of Zajecar by bringing around 300 jobs to the local community in the construction phase and up to 200 more retail roles upon opening."
“We decided to invest in Zajecar because of its central location in the Borsko-Zajecarski district, the improving economic outlook for the city, and lack of a modern retail complex in this part of Serbia," said Poseidon Group corporate affairs director James Gunn. "We can confirm that six months prior to opening over 80% of the retail space in Capitol Park Zajecar has been let."
“The arrival of Capitol Park to Zajecar will not only bring a new shopping experience, but more importantly new jobs," commented Bosko Nicic, the Mayor of Zajecar. "These are the moments that demonstrate the city’s progress and proof that we are heading in the right direction. Once again we wish to thank Poseidon Group for investing in Zajecar and making it a part of their retail park family”
BDPP reports that it has advised the Poseidon Group on all its Serbian developments, including the development of Capitol Park Rakovica, Belgrade’s largest retail park as reported by CEE Legal Matters on February 21, 2017 and on its joint co-investment partnership with Mitiska REIM in the Capital Park Sombor as reported on June 13, 2017.