Capitol Park Rakovica, a joint venture investment between Britain’s Poseidon Group and Belgium’s Mitiska REIM, will be the largest retail park in Belgrade and first shopping and leisure destination in the municipality of Rakovica.
With over 108,000 inhabitants in Rakovica, and neighbouring Cukarica and Vozdovac within ten minutes’ drive, the Capitol Park will serve as the shopping location of choice in South Belgrade. The park is centrally located on Patrijarha Dimitrija Street within view of the majority of Rakovica’s residents.
Phase one will comprise over 21,000 sqm including a DIS food hypermarket, cinema, leading fashion and footwear stores, electronics, health and beauty, furniture, sports and recreational spaces. A heavy emphasis is placed on having many restaurants and cafes to create the capitol of shopping for Rakovica.
Radoljub Djuric, director of Development and Investment for Serbian supermarket chain DIS, said: “I am delighted to confirm that DIS will lease more than 3,000 sqm of space in Capitol Park Rakovica to provide improved shopping facilities to the municipality’s residents. DIS congratulates Poseidon Group and Mitiska REIM on the development plans for the site which will ensure that Rakovica will become a shopping hub in Belgrade, as well as providing employment for hundreds of local residents.”
Demolition and construction is expected to start in the first quarter of 2016.
About Poseidon Group:
Poseidon Group is an independent company that manages the investment trusts of a single family. These investments are concentrated in the real estate and mining sectors.
Poseidon Property is the property arm of Poseidon Group focusing on the UK, CEE and SEE markets. Poseidon Property has a track record of successfully co-investing with institutional and private investors since 2001. Principally it provides development, project, leasing and asset management services to its co-investors. It manages developments and investments in the retail, office, residential and tourist resort sectors with a determined focus on the retail sector.
About MITISKA REIM:
MITISKA REIM is a Brussels-based real estate investment management company. MITISKA REIM manages the specialist real estate fund “First Retail International” (FRI) which has an investment capacity of 200 million EUR targeting retail park properties in Europe. FRI’s current portfolio represents a total investment value of 100 million EUR. For investments outside of Belgium, MITISKA REIM enters into partnerships with experienced local country partners in several European countries, including Poseidon Group in Serbia.
Municipality of Rakovica
One of the priorities of the Municipality of Rakovica is to create a favourable business environment to attract new investment. From the beginning of the project’s conceptualisation, the Municipality of Rakovica, in whose territory Capitol Park Rakovica will be built, is supporting the investor to start development as soon as possible, which will lead in turn to the opening of a large number of new jobs. In this way, the Municipality of Rakovica shows that it is a suitable investment destination and that the local government is available to anyone wishing to invest in the Municipality.