Dietmar Reindl, Chairman of Immofinanz Group Executive Board - First retail park Stop.Shop. in Cacak to employ over 100 people, 8 more retail parks to open in Serbia
The first Stop.Shop. retail park of the Immofinanz Group in Serbia has been opened in Cacak. This facility of the Austrian group is situated in southwest part of Cacak, which is densely populated, and this shopping center is expected to attract about 230,000 people from the Moravica Region. The retail park in Cacak is the 53rd facility in the Stop.Shop network that the Immofinanz Group operates in seven countries. Its opening in Cacak represents the start of expansion in Serbia, where the Immofinanz Group plans to open a total of nine Stop.Shop. facilities within the next three to four years.
- Our arrival in Serbia was initiated by our tenants and we are happy to have been able to fulfill their wish, considering the potential of Serbia. The Stop.Shop. concept is ideal for Balkan countries because of the size of cities and the purchasing power of the population, and tenants' reaction is very positive - Dietmar Reindl, chairman of the Executive Board of the Immofinanz Group, says in an interview with eKapija.
eKapija: What is the surface area of the retail park Stop.Shop in Caca? What kind of amenities is it going to have?
- The total lease space is about 6,300 square meters, and there is also a parking lot for 190 cars. The modern Stop.Shop. building will offer the people of Cacak and consumers from neighboring places a new quality of supply and products at affordable prices - not only those by foreign fashion brands, but also local trademarks.
eKapija: Is the interest satisfactory, how many stores have been rented so far, who are the tenants, and what categories prevail?
- Stop.Shop. in Cacak will comprise up to nine outlets. So far, seven of them have been rented out. Two outlets are still available and we are currently negotiating their lease with potential tenants.
(Stop.Shop in Cacak)
eKapija: What brands will be available to shoppers? Are there going to be some new brands that are new to the Serbian market?
- There will be several well-known brands that are not new to the Serbian market. Among the tenants of Stop.Shop. in Cacak are DIS, C&A, Takko, Deichmann, Djak and Lilly.
eKapija: What makes Stop.Shop. different than other retail parks and shopping malls in Serbia?
- Success of Stop.Shop. is based on a standardized approach relying on four pillars: retail park surface area of 5,000 to 15,000 square meters, parking lot of a satisfactory size and features, good traffic connections, and functionality, that is, attractive international and domestic tenants.
eKapija: What is the value of the retail park in Cacak? How many people will get a job in the new shopping complex?
- We do not disclose information on the project value, but I can tell you that between 7 and 10 million euros will be invested.
Stop.Shop. in Cacak will employ over 100 people, which is an important aspect because it helps the development of this area as well as the economy sector and market of Serbia as a whole.
eKapija: The Immofinanz Group is currently building two more retail parks in Serbia, one in Subotica and the other in Nis, and you've also announced some new facilities in Serbia. How is the construction work going?
- As far as Subotica is concerned, the plan is to build a retail park on a surface area of 7,300 square meters. Situated in the eastern part of the city, it will be easily accessible and should attract a large number of people. Stop.Shop. in Nis will be located in the eastern part of the city. It will be quite visible and easily accessible from all important roads, which should result in about 380,000 people gravitating toward it. According to the plan, the total lease area will be 13,000 square meters.
Locations in Subotica and Nis are currently under preparation and appraisal, and we plan on opening up to nine new Stop.Shop. retail parks in Serbia within the next three to four years. Rest assured we are going to dislose all the details of new projects as soon as we are able to.
eKapija: How did you pick cities to house your Stop.Shop. retail parks?
- The Immofinanz Group approaches every new investment in a strategical manner. A decision to make an investment is always preceded by a thorough market analysis, after which prospects of retail park construction are defined.
eKapija: Does Serbia have enough facilities of this kind or we still lag behind developed countries in that regard?
- Stop.Shop. is the first retail park of the kind in Serbia, but the prospects of further development of this concept are huge.
eKapija: Since retail parks are targeted toward wider population and the purchasing power of people in Serbia is on a decline, how is this going to affect your business?
- Stop.Shop. retail parks makes it possible for citizens to buy everything they need at one place as well as to shop in a comfortable, practical and efficient way, with no additional effort. It is important to stress that our retail park offers a good combination of tenants that will offer our customers a quality, affordable and relaxed shopping experience - all in one place.
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