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
- 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.
- 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?
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.
Ivana Bezarevic
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