Aberdeen Asset Management has sold the King Cross shopping center in Zagreb to the company SES, which specializes in the provision of all kinds of services related to retail facilities.
SES is a company specializing in development, construction, lease, management or marketing for investors. The SES Group currently owns more than 30 sites with more than 80 specialists in the field of development, architecture, building management, leasing and management of malls and facilities throughout central and southeastern Europe.
JLL the leading consultant for commercial real estate advised Aberdeen Asset Management in the sale process of the first-generation shopping center in Zagreb, King Cross.
Located in the municipality of Jankomir, which is the first major commercial zone in Zagreb known for its retail and business facilities, King Cross
is one of the most attractive shopping destinations in Zagreb. Recognizing that the first Decathlon in Croatia is open in King Cross, the Center provides customers with other international retailers such as InterSpar, Harvey Norman, Jysk and many others, JLL reminds.
Uros Grujic, JLL Head of Capital Markets for South East Europe commented that Croatia had once again proved to be a very attractive destination for international investors.
– This is proof that the appetite is still high for retail facilities in the region with predictions that the same level of demand will remain in the future. Due to the improved economic situation, increased purchasing power, and EU status, Croatia along with Slovenia, Bulgaria and Serbia remains the most interesting destination in Southeast Europe for investors focusing on commercial real estate – Grujic believes.
Andrew Peirson, JLL Managing Director for South East Europe added that the King Cross deal reflected the fact that Croatia is still very much a retail focused market.
– Since 2007, over 80% of non-tourist-related investment deals have been retail transactions, and this reflects both the quality of retail assets on offer in Croatia and also investors continued appetite for retail assets in the country. We are sure that SES will help further transform King Cross given their excellent pedigree owning and developing retail assets across Slovenia, Austria, Italy, Hungary and Czech Republic – Peirson said.