Poseidon Group to Expand Serbian Portfolio in 2018/2019

By Retail SEE Group / February 28, 2018

After the successful opening of two retail parks in 2017, the UK-based property investor, developer and manager Poseidon Group will continue to expand its Capitol Park network in Serbia during 2018 to reach a total of ten retail park projects by 2020.

This spring Capitol Park Šabac, which opened in 2014, will welcome in phase two of its development the fashion retailer H&M and another three brands. This will confirm Capitol Park’s retail leadership in the Mačva region of Serbia.

By the end of 2018, Belgrade’s Capitol Park Rakovica will open a further 2,150 sqm, providing around 60 new jobs for local residents.

In addition to the 2017 openings in Sombor and Rakovica, Poseidon plans to expand its network through south and eastern Serbia with developments in Leskovac and Zaječar. The two new projects will be a 15 million EUR investment and will create around 240 new jobs.

Capitol Park Leskovac will open by the end of this year with around 6,500 sqm of retail space in the first phase and a tenant mix that will fit the local market needs, including a hypermarket, fashion, footwear and sports equipment stores.

The beginning of 2019 will see the opening of Capitol Park Zaječar located in the city center with 9,000 sqm of retail space.

Poseidon Group Corporate Affairs Director James Gunn emphasized the regional strength of Capitol Park:

“Over the past three years, three retail parks were successfully opened to employ over 800 people. With our Capitol Park brand, Poseidon Property will strive to become a retail leader in the region with a plan to expand to a total of ten retail parks in Serbia and to pursue acquisitions in other markets. “

Further information on the next stages of construction will be announced in mid-2018.

About Poseidon Group

Poseidon Group is a United Kingdom-based property investor, developer and asset manager. Established in 2001 in London, it has grown to employ more than 200 people globally. Poseidon Group is actively exploring co-investment partnerships in its UK and SE Europe projects with investors worldwide. The current book value of its projects is 1.2 billion EUR in a portfolio comprised of over 60,000 sqm of built retail parks, 36,000 sqm of built food supermarkets, and more than 400 residential apartments and houses in planning and construction.