Country News
05.10.2015

IMMOFINANZ starts construction on second Serbian STOP SHOP in Niš

The Austrian IMMOFINANZ has started construction on its STOP SHOP location in Niš. The project marks the next step in the Serbian expansion of the retail park chain for this commercial property company – the first Serbian retail park in this brand opened in Čačak during April. Plans for the STOP SHOP in Niš include approx. 13,000 sqm of selling space and nearly 300 parking spaces, and the opening is scheduled for spring 2016.

“With its location and catchment area, this newest STOP SHOP in Niš fits perfectly with our umbrella brand concept. It also represents our second STOP SHOP in Serbia after Čačak. And we still see further potential in this market, among others due to the substantial demand for retail space“, indicated Dietmar Reindl, COO of IMMOFINANZ.

“This will provide an opportunity for new jobs, and also for other city income, goods and services. Nis is a good business environment and many international companies with their arrival are confirming this. I am glad that the city of Nis will become another European city on the map of IMMOFINANZ company, where citizens and visitors of Nis will enjoy this shopping concept", commented Zoran Perišić, the Mayor of Nis.

The STOP SHOP is located in the Mediana district and will have approx. 13,000 sqm of selling space and nearly 300 parking spaces. The location can be easily reached by car as well as public transportation, and the catchment area covers roughly 380,000 residents. Lease negotiations are currently in progress with well-known international and national retailers.

The flexible concept underlying the STOP SHOP brand is based on regional shopping centers at central locations with catchment areas of 30,000 to 150,000 residents. The retail parks will have 2,500 sqm to 15,000 sqm of rentable space and offer visitors sufficient parking, optimal accessibility by public transportation and high functionality with an attractive mix of international and national tenants. The STOP SHOP portfolio currently covers 53 locations in seven countries (Austria, Hungary, Slovakia, Czech Republic, Slovenia, Poland and Serbia).