Capitol Park Rakovica, a EUR 30M retail real estate investment in Belgrade led by British “Poseidon Group” and Belgian “Mitiska REIM“, opened on 19 October 2017.

Celebrations at the largest retail park in Belgrade were attended by the first deputy prime minister of Serbia Nebojsa Stefanovic, mayor of Belgrade Sinisa Mali, mayor of Rakovica Vladan Kocic, state secretary Aleksandar Damnjanovic, the ambassador of Belgium Leo D’Aes, head of the Department for International Trade at the British Embassy Dominic Neil, other officials and representatives of Capitol Park tenants.

“We are pleased to announce the opening of our third retail park in Serbia.  Present in Serbia for more than a decade as a commercial real estate investor, developer and asset manager, we opened Capitol Park Sabac in 2014 followed by Sombor in September this year.  We intend to open Capitol Park Leskovac next year, as well as extend our existing schemes, and two other locations will be confirmed soon,“ saidJames Gunn, Poseidon Group Corporate Affairs director.

Mayor of Belgrade Sinisa Mali said that Rakovica is now becoming known for cranes, construction sites and investment, instead of abandoned factories and production halls.  He added that Serbia is on the right path, withinvestors employing more people in Serbia’s capital.  The project in Rakovicawill generate 450 new retail roles to help improve employment opportunities in the country.

Serbian Interior minister Nebojsa Stefanovic mentioned that infrastructure in Rakovica was improving with the opening of the retail park and a reconstructed health centre in the past week alone.

Poseidon Group also donated EUR 10,000 to build a children’s play park in the southern Belgrade municipalityand EUR 15,000 to the Olympic medal winning Rakovica judo club that was previously sponsored by Rekord, the former occupants of the Capitol Park site.

More than 30 tenants, well known Serbian and international brands occupying in phase one approximately 25,000 sqm of the 65,000 sqm site, provided visitors with opening discounts and all-day entertainment.  Concerts by Zeljko Vasic, Dzenan Loncarevic and Lexington Band, as well as fireworks, concluded the day’s activities.Cine Grand provides a modern cinematic experience with the newest audio-visual technologies in Serbia.