Poseidon Group sponsored the Fourth Serbian Property and Infrastructure Development Conference held on 21 February in Belgrade. A discussion on “Trends shaping the future of retail and shopping centres” was attended by Ivana Rajkovic, Associate Director – Transaction & Portfolio Management of Poseidon Group; Mia Zecevic, CEO at Novaston; Josko Pitesa, Operations Manager at Immofinanz Serbia and Ana Petrovic, Head of Expansion at Lidl Serbia, and moderated by Nebojsa Nesovanovic, Member of the Board at the Serbian Society of Appraisers.
Expert views on trends in investment and competitiveness in Serbia’s retail sector were debated and one of the main points made was that 250,000 sqm of new commercial space will be built in Serbia in the next two years, which should fulfil Serbian retail market needs. Trends in retail parks and shopping centres in Serbia are marked by family entertainment and modern retail experiences compared with the past stop-and-shop schemes, which require constant marketing efforts as well as an ideal tenant mix to respond to customer expectations.
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 new developments in Serbia, especially in smaller cities, 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 operating projects in Sabac, Sombor and Rakovica, as well as upcoming openings in Leskovac and Zajecar, she added that there will be many opportunities in secondary decentralised communities which are beginning to urbanise and improve facilities for residents. She stated that Serbia is currently in the stage of a big expansion in retail and that “we are about to experience a very exciting period” that will bring many new retail projects to the market.
“Serbia is currently in consolidation phase regarding the retail market. We have seen many new brands come to Serbia and I hope we will manage to follow this trend, together with our competition,” Rajkovic added.
Poseidon confirmed spring openings of two new Capitol Park projects in the Serbian cities of Zajecar and Leskovac.