The European Bank for Reconstruction and Development (EBRD) has announced that it has approved a loan of up to EUR 100 million for BIG CEE B.V., part of BIG Shopping Centers from Israel, which intends to expand its operations in the Western Balkans region through the construction, renovation and purchase of retail parks and shopping centers.
The first two projects, which will be financed with an EBRD loan, will be two modern retail parks that BIG CEE plans to build in Serbia – in Stara Pazova and Čačak, the statement said.
The investor also undertook to secure the BREEAM international sustainability certificate for all facilities financed by the EBRD.
As noted, Austria also provided technical assistance through its “Resource Efficient Investment Realization” (DRIVE) program, helping the client conduct a market and technical assessment and an assessment of the impact of the transaction on sustainable development.
The “BIG Čačak” business and shopping center will be built on the site of the former “Prvi Maj” and “PKS Latex” factories.
It was previously announced, as our portal wrote about back in August 2022, that in the first phase, 16,000 square meters of office space will be built for rent, with over 520 parking spaces in the open parking lot. It is about the plot of land on which the “Prvi May” factory once stood.
The value of the investment in the first phase is over 30 million euros, and the opening of around 400 new jobs is expected.
In the second phase, it will be built on the site of the former chemical industry “PKS Latex”. The projection is that 300 more workers will be employed then.
As the Israeli company points out, the total area of the shopping center will be around 30,000 square meters, and the total investment will be around 50 million euros.
According to our knowledge, the largest and most famous world brands will be represented in the new shopping mall in Čačak. Within the complex there will be several restaurants, as well as a cineplex cinema.
The start of construction is planned for the spring of next year.
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