Poseidon Group sponsored the Third Serbian Property and Infrastructure Development Conference held on 22 February in Belgrade. A discussion on “Shopping Centres, Retail & Entertainment Parks: A New Era of Development” was attended by Ivana Rajkovic, Associate Director – Transaction & Portfolio Management of Poseidon Group; Aleksandra Cupic, Head of Real Estate at Erste Bank; and Katarina Gajic, Director of Design and Construction of Delta Real Estate.
Expert views on trends in funding, investment and competitiveness in Serbia’s retail sector were debated. Retail parks are increasingly becoming family entertainment centres and providing a modern retail experience compared with the past stop-and-shop schemes. Improvements in local banking liquidity is supporting investment creating high quality sustainable projects.
Ivana Rajkovic shared her experience of Croatian retail over the past decade which saw significant transformation due to the boom in retail park and shopping centre development. The Croatian retail market is characterised by oversupply, especially in Zagreb. In her opinion, there remains room for development in Belgrade and elsewhere in Serbia due to the comparative size of the country’s economy.
Rajkovic highlighted that the focus should move to the secondary cities of Serbia with a growing need for modern retail. Referring to Poseidon Group’s most recent Capitol Park retail development in the industrial zone in the Belgrade suburb of Rakovica, she added that there will be many opportunities in secondary decentralised communities which are beginning to urbanise and improve facilities for residents.
Poseidon confirmed that it will commence construction of two new Capitol Park projects in the Serbian cities of Zajecar and Leskovac.