With five retail parks operating across Serbia, Poseidon Group continues to invest in SE Europe’s retail real estate sector.  Confirmed today, the European wide property investor, developer and asset manager will partner with New Imobilia Develop to bring its Capitol Park brand of retail parks to the 50,000 residents of Belgrade’s newest municipality, Surcin.

The plot of 16,000 sqm is situated in the town centre at Vojvodanjska street.  It benefits from being located next to a densely populated residential zone and the soon to open Lidl supermarket.

“Capitol Park Surcin will be Poseidon’s sixth retail park in Serbia.  It will bring around 100 jobs to the local community in the construction phase and a further 80 upon opening,” said the company’s corporate affairs director James Gunn.

Construction starts in spring 2020 for opening in the autumn.  Capitol Park Surcin will include more than 11 units with a total lettable area of over 3,000 sqm.  It will be the first modern shopping facility in the Belgrade suburb and its first retail park.  Capitol Park will provide modern family-friendly retail and leisure opportunities for the Surcin community.

The tenant mix will adjust to shopper needs and comprise international and well-known local brands.  With a major food hypermarket located next to the park, the development will include fashion shops for adults and children, and sports goods, as well as home furnishing and decoration, to provide visitors with a complete shopping experience.

The Capitol Park Brand

The Capitol Park brand is part of a property portfolio comprising more than 310,000 sqm of built and managed retail outlets across SE Europe, 90,000 sqm used by supermarkets, and more than 1,000 residential buildings in planning and construction.  Owned, developed and managed by Poseidon Group with its SEE local teams and network of offices in Bosnia, Croatia, Serbia and Slovenia, it strives to become the leading retail park operator in SE Europe.  Providing an international shopping experience at affordable local prices, the London-based company plans to operate 16 retail parks and neighbourhood centers by the end of 2020.