With three retail parks already operating in Sabac, Sombor and Belgrade, Poseidon Group continues to invest in the Serbian retail market. The UK-based property investor, developer and asset manager will this year bring its Capitol Park brand of retail parks to the over 145,000 residents of the southern city of Leskovac.
Announced on the 4th of June by Poseidon Group management at the Leskovac Municipality city hall, Capitol Park Leskovac construction will start in the summer for an opening in late autumn this year.
“Capitol Park Leskovac will be Poseidon’s fourth retail park in Serbia with an equity investment of almost 10 million EUR. It will attract 16 leading Serbian and international retailers to increase consumer choice at affordable prices. The investment will boost the local economy by bringing around 500 jobs to the local community in the construction phase and a further 200 upon opening. The decision to invest in Leskovac supports the NALED (National Association of Local Economic Development) view of the city as a location with great economic potential,” said the company’s corporate affairs director James Gunn.
Mayor of Leskovac Goran Cvetanovic emphasized the significance this investment has for the city: “The arrival of Capitol Park will not only bring a great shopping experience, but more importantly new jobs. These are the moments when we see the city's progress and proof that we are heading in the right direction. Once again, I thank Poseidon Group for investing in Leskovac and making it a part of their retail park family."
The plot of 16,500 sqm is situated in the wider city centre, at the junction of 28 Marta and Strahinjica Bana streets, located next to a densely populated residential zone with access to the E75 highway. Capitol Park Leskovac will have a total lettable area of 6,500 sqm, bringing the first modern shopping and leisure experience to the families of Leskovac.
About Poseidon Group
Poseidon Property 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 EUR 1.2 billion 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.