30/03/2009.
Back
Opening of Usce Shopping Center in Belgrade
Belgrade, 31 March 2009 - MPC Properties d.o.o, a joint venture between MPC Holding d.o.o and Merrill Lynch Global Real Estate Principal Investments is opening the Usce Shopping Center in Belgrade, Serbia. The joint venture was formed in December 2007 and consists of an 80% interest held by MPC and a 20% interest held by Merrill Lynch.
The Center is not only the largest shopping center in Belgrade but also the largest center in the region, with a total built area of c. 130,000 square meters and a total net lettable area of c. 50,000 square meters. The Center accommodates c. 150 shops, restaurants and leisure outlets and provides over 1,300 parking spaces. The Center was already 100% leased by EFG Property Services one year before the opening, including lettings to major international tenants such as Zara, New Yorker and Marks & Spencer and tenants who are entering Serbian market for the first time. The Center is managed by ECE Projektmanagement d.o.o., a subsidiary of Europe’s leading shopping center Project Management Companies - ECE Projektmanagement International G.M.B.H, making its debut in the Serbian market with its involvement with the Center.
“The completion of Usce Shopping Center is a very exciting moment for our company,” a MPC representative pointed out. “We believe this shopping center will become the most attractive retail destination in the city given its excellent location, high visibility and strong tenant list. New Belgrade is beginning to be recognized as the key location for all new businesses, retail and residential projects and Usce Shopping Center is at the heart of it all.”
Roger Barris, EMEA head of Global Real Estate Principal Investments at Merrill Lynch, commented: “The Usce Shopping Center represents a tremendous achievement for our joint venture and a tremendous step forward for the Serbian property market. Our ambition has been to create the first truly world class shopping center in Serbia that will be a landmark in the Belgrade real estate market for years to come.”
The Center represents an investment of over EUR 150 million, involving four of the largest foreign banks in Serbia (Eurobank EFG, NBG, Piraeus Bank, Unicredit Bank) and equity from MPC Properties. Construction of the Center commenced in 2007 and its completion this month represents a total construction time of 30 months.
The construction site involved about 5.000 people from more than 100 construction companies of which c. 90% are from Serbia.
The Center will create 1,200 new jobs in Belgrade, thereby strongly contributing to the economic growth and attractiveness of the city.
New center of Belgrade will be open every day from 10am-10pm.
In addition to the previously mentioned brands, numerous other famous, international brands have placed their shops in the center including Springfield, Woman’ Secret, Mango, Cortefiel, Massimo Dutti, Benetton, Gant, Nara Camicie, Time Out.
It is particularly interesting that the center has attracted number of brands with their first entry into the Serbian market. Shop XYZ will be presenting its concept of premium brands Armani Jeans, Just Cavalli, Cerruti, D&G, Zegna, Exte, Boss. Also, the center will feature famous brand by Jennifer Lopez, J.Lo, as well as fashion apparel by Glou, Attrativo, Guess Jeans, Koton, Marella, men suits by Roy Robson and bags by Lollipops. Wide variety of shoe collection will be introduced for the first time by Stiefelkonig, Brown Shoes and Nursace.
Other than exclusive shops, visitors will also have access to Idea supermarket with 4.000sqm, 8 restaurants and 6 bars, as well as new multiplex cinema with 11 screens.
On Tuesday, March 31st at 8am, the center will open its doors for all visitors keen to enjoy the world of shopping, entertainment and relaxation.
Visitors should expect numerous promotions, activities and enjoyable experience.
The Center is not only the largest shopping center in Belgrade but also the largest center in the region, with a total built area of c. 130,000 square meters and a total net lettable area of c. 50,000 square meters. The Center accommodates c. 150 shops, restaurants and leisure outlets and provides over 1,300 parking spaces. The Center was already 100% leased by EFG Property Services one year before the opening, including lettings to major international tenants such as Zara, New Yorker and Marks & Spencer and tenants who are entering Serbian market for the first time. The Center is managed by ECE Projektmanagement d.o.o., a subsidiary of Europe’s leading shopping center Project Management Companies - ECE Projektmanagement International G.M.B.H, making its debut in the Serbian market with its involvement with the Center.
“The completion of Usce Shopping Center is a very exciting moment for our company,” a MPC representative pointed out. “We believe this shopping center will become the most attractive retail destination in the city given its excellent location, high visibility and strong tenant list. New Belgrade is beginning to be recognized as the key location for all new businesses, retail and residential projects and Usce Shopping Center is at the heart of it all.”
Roger Barris, EMEA head of Global Real Estate Principal Investments at Merrill Lynch, commented: “The Usce Shopping Center represents a tremendous achievement for our joint venture and a tremendous step forward for the Serbian property market. Our ambition has been to create the first truly world class shopping center in Serbia that will be a landmark in the Belgrade real estate market for years to come.”
The Center represents an investment of over EUR 150 million, involving four of the largest foreign banks in Serbia (Eurobank EFG, NBG, Piraeus Bank, Unicredit Bank) and equity from MPC Properties. Construction of the Center commenced in 2007 and its completion this month represents a total construction time of 30 months.
The construction site involved about 5.000 people from more than 100 construction companies of which c. 90% are from Serbia.
The Center will create 1,200 new jobs in Belgrade, thereby strongly contributing to the economic growth and attractiveness of the city.
New center of Belgrade will be open every day from 10am-10pm.
In addition to the previously mentioned brands, numerous other famous, international brands have placed their shops in the center including Springfield, Woman’ Secret, Mango, Cortefiel, Massimo Dutti, Benetton, Gant, Nara Camicie, Time Out.
It is particularly interesting that the center has attracted number of brands with their first entry into the Serbian market. Shop XYZ will be presenting its concept of premium brands Armani Jeans, Just Cavalli, Cerruti, D&G, Zegna, Exte, Boss. Also, the center will feature famous brand by Jennifer Lopez, J.Lo, as well as fashion apparel by Glou, Attrativo, Guess Jeans, Koton, Marella, men suits by Roy Robson and bags by Lollipops. Wide variety of shoe collection will be introduced for the first time by Stiefelkonig, Brown Shoes and Nursace.
Other than exclusive shops, visitors will also have access to Idea supermarket with 4.000sqm, 8 restaurants and 6 bars, as well as new multiplex cinema with 11 screens.
On Tuesday, March 31st at 8am, the center will open its doors for all visitors keen to enjoy the world of shopping, entertainment and relaxation.
Visitors should expect numerous promotions, activities and enjoyable experience.
