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» We signed a contract with one of the largest companies in the world when it comes to Biogas-WELTEC BioPower, Germany. We will, as their representatives in Serbia, build Biogas plants, "turn key" option , using their technology» Retail Park in town of Sabac
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- 07.06.2011.
Construction of Capitol Park shopping center in Sabac kicks of in autumn 2011
(Look of the future shopping center)
Sabac will get Capitol Park shopping center until September 2012. An agreement on co-funding of that facility was signed on July 2nd by Oliver Hartley, director of the British company Poseidon, and Marko Krajncic, director of Yu Kapital, eKapija learns. The shopping center Capitol Park will span 10,000 square meters and it will be situated on a 2.8-hectare land. Tenants in this center will be all renowned brands that are already present in our country, as well as post and bank offices.
Commencement of the construction is scheduled for autumn 2011. Design of the land-utilization project is entrusted to the company Plan from Sabac.
- 18.06.2010.
Yu Kapital starts production of biogas in Serbia 10 locations chosen for construction of plants
Due to limited use of fossil fuels and increased environmental pollution, the use of renewable energy sources is become more and more frequent, and one of the most efficient biofuels is biogas. Biogas is a product of the fermentation or biological breakdown of organic matter, that is, the green energy of plants and waste organic matters. In addition to manure and silage, the waste from agricultural industry, households and food-processing industry is more and more used in its production, while modern technology facilitates simultaneous production of electric and heating energy. The users of this renewable energy source are the industry and agriculture, as well as sewerage cleaning units and waste management facilities. There are over 5 million plants for production of biogas in the world today, most of which are very simple.
According to some estimates, 10% of green energy in Europe are obtained from biogas, while this alternative source of power supply has not yet reached the highest possible level of use in Serbia. Company Yu Kapital will be one of the first to start construction of biogas plants in our market and, as its CEO Marko Krajn?i? explains, they have been waiting for the Regulation on price of green electricity to be adopted.
- There are still some undefined things in the Law. For example, it is written in the Law that the state guarantees the price of electricity for 12 years from the moment the Regulation is put in effect, which is probably a mistake since that time should be counted from the moment the plant is put in operation. Otherwise, such regulation is not logical for investors and banks because the price can not be put in connection with the passing of the Law, but with the construction or commencement of work of the plant. Also, the price of biogas in Serbia is the lowest in the region, which may be good to be changed. In any case, the Government, authorized ministries and private sector are working hard in the domain of alternative energy sources, and we hope that we will be able to fix the things in that area together.
First projects already ready
YU Kapital is intensively negotiating with its partners from Germany and Austria, and it also plans to include domestic companies in the project. The company has already chosen ten locations where it plans to have these biogas plants built. In order to do that, it will need a strategic partner and a good collaboration with agricultural farms, cooperative farms, and all those who have a land or a farm.
- In short, we will be first using waste to produce biogas and then biogas to produce electricity ? said CEO of Yu Kapital. As Krajn?i? explains, Yu Kapital will start construction of 1 MW plants in Serbia, as well as some smaller ones, but he also points out that some companies, one of which is MK Commerce, has the capacities for 15 MW.
- The first plant, maybe even the first unit in Serbia, will be built in partnership with Mr. Avdalovic on his property in Padej in Vojvodina. The price of a 1 MW plant is between 4.5 and 5 million euros. We plan to form joint ventures with foreign and domestic partners, which will then supply power to the Electric Power Company of Serbia.
A biogas production unit costs more than the units for production of some other fuels, even 50% more in some cases, but its basic advantage lies in biogas by-products. The produced heat can be used for heating nearby houses (remote heating system) or popular hothouses. One of its by-products is biodiesel fuel. The rest of solid substance, which is a very good manure, can be briquetted and used for heating since it practically has no taste and scent. Construction of the plan is very quick and it takes up to four months at average. Each plant is different because every client has different individual needs and resources.
According to the words of our interlocutor, Yu Kapital's potential partners are, primarily, the companies that bought agricultural companies in the privatization process, as well as all other agricultural estates, farms, slaughterhouses, sugar plants, cooperative farms, and later even cities that will be separating organic waste.
- We think that many units will be built in Vojvodina because it is oriented towards agriculture and has much organic waste. Biogas will become very popular the moment Serbia starts complying with the European regulations, according to which the organic waste will be differently treated than now.
The most usual applications of biogas
Biogas has similar characteristics as landfill gas, which is why we can use it for the same purposes. Biogas is very efficiently used for production of heat and gas, electric energy, simultaneous production of heating and electric energy, heating and cooling, production of hydrogen and its further use, production of chemicals, fuel for motor vehicles and agricultural machines.
Biogas
Biogas is a blend of methane (50 to 70%) and carbon dioxide (30 to 40%) with traces of ammonia, hydrogen, nitrogen, hydrogen sulfide, carbon monoxide and water vapor. Unlike fossil gas, burning of biogas is neutral, without CO2, so that it does not leads to increase in greenhouse effect in the atmosphere.
- 13.06.2010.
?abac gets first "retail park" ? Yu Kapital starts construction of complex at 12,000 square meters
- Real estate company YU Kapital is going to start construction of a "retail park" at 12,000 square meters in ?abac, about 2 km away from the pedestrian zone. This modern complex on the main route will be finished prior to the beginning of 2011 at the latest. The investor has already signed contracts for rental of half of future outlets, that is, about 6,000 square meters - Marko Krajn?i?, CEO of Yu Kapital, said in an interview for eKapija.
- Surface of the smallest facility will be 100 square meters, while the biggest one will occupy about 2,000 square meters. There will be a number of companies from the textile industry such as NewYorker, Takko Fashion, Deichman for shoes, companies that sell house products, etc. Outlets will also be occupied by famous DM drugstore, a bank, a post office... "Retail park" will be situated on the land of 35,000 square meters, in an excellent location, the new crossroads next to the future fairgrounds, car market and wholesale market. According to the plans of the city authorities, "retail park" will be settled in the center of future economic events in ?abac - Krajn?i? explained.
YU Kapital owns one more attractive location in ?abac, across the road from future "retail park", where it plans to have another trade center built. The surface of the land is close to 28,000 square meters.
- The commencement of construction will depend on the interest expressed by tenants because the project documentation is almost completed. We will run that investment independently. It's been ready for two years now, but the crisis slowed us down - said Krajn?i?.
- 13.06.2010.
Yu Kapital to build two residential-business facilities in Belgrade center in early 2011 - Company interested in partnership
(Facility in Dimitrija Tucovi?a Street)
- Real estate company YU Kapital is going to start construction of two residential-business facilities in Belgrade in early 2011 - in Dimitrija Tucovi?a Street and Kraljice Marije (former 27. marta) Street - Marko Krajn?i?, CEO of Yu Kapital, announced for eKapija. Krajn?i? said that the company was interested in establishing strategic partnership for those two investments and that it was willing to negotiate various project shares.
- In Kraljice Marije Street, we plan to start construction of a residential-business facility with the aboveground surface of 6,000 square meters. That is one of the most attractive locations in the city because it is only 10 minutes of walk away from Nikole Pa?i?a Square, Terazije and Knez Mihajlova Street. In addition, it has an excellent traffic connection with the main city artery - Kneza Milo?a Street, and all bridges and other important routes can be reached quickly and easily from that location. The front side of the future residential-business facility will be in 27. marta Street and it will be of modern and contemporary architectural design - Krajn?i? explained.
(Location in Medakovi? settlement)
The other project that will be implemented by Yu Kapital in early 2011 is construction of a residential-business facility in Dimitrija Tucovi?a Street, of which aboveground surface will be 6,400 square meters.
In addition to these two facilities, Yu Kapital also plans to start construction of facilities in settlements Banjica (Tro?arina) and Medakovi? in early 2012. The company will seek strategic partners for both investments.
- We own 6,013 square meters of land and we have signed pre-contracts for another 14,000 square meters. Once we finish the procurement of neighboring land, we will have the surface of 20,000 square meters at our disposal and the possibility to build 80,000 square meters above the ground. This attractive building land is situated on Banjica, on the crossroads of Oslobo?enja Boulevard and Save Ma?kovi?a Street. The location is very attractive for both housing and commercial or mixed construction...
(Tro?arina)
Yu Kapital owns a location at 8,000 square meters in Medak where a six-floor facility can be built with total aboveground surface of 24,000 square meters.
That location is intended for construction of a multifunctional residential-business commercial center. It is situated in a densely populated city block Medakovi?, at the corner of Vojislava Ili?a Street and a roundabout. This location is extremely well connected to Belgrade - Nis highway via Vojislava Ili?a Street.
- We are looking for a strategic partner for all our projects, for the whole company, as well as for individual locations. We are thinking about recapitalization and we are willing to negotiate on all options of the ownership distribution. We are also ready to allot existing projects to someone else - said Krajn?i?.
- 29.01.2009.
Author: Milica Stamatovic
Only 12 km from the center of Belgrade , there will be one new town, unique in this part of Europe. It will close down thousands of small shops, but in the same time it will create 12.000 new jobs.
Reffering to the number of shopping centers, different malls and cities, Serbia is way behind all countries in region. Belgrade has two shopping malls, ?Delta city? and soon ?Usce?, that are big ,even if compared with others in the world. But, experts claim , even that is too little for such a big town. On the other hand , most of the world metropolis have shopping cities. Town urbanists have planned for Belgrade one too. First occasion to realize this project was on the road to Novi Sad (from Belgrade), but it was wasted because realization was done partially, so there, close to ?Metro? , warehouses and factories have been built?
- It can?t be shopping city any more. That is why now it will be built on Ibarska motorway. Even if configuration of the ground here is not the ideal one, hills and valleys are present on the same ground, the position,on the exit of town close to the bypass road, and especially with the bridge bounding Cukarica and New Belgrade that will be constructed ,makes this location a great one. It is less than 12km away from the pedestrian zone in Knez Mihajlo street.Town and municipality of Cukarica have made this 100 ha a commercial zone, and ?YU KAPITAL? has made a project -Shopping city?- this was said in this Serbian Holding company that used all its ? know-how? in order to promote this investition. ? We did?nt invent warm water. Vienna has such a city ?Sud? on the town exit along the highway, Ljubljana has BTC, one of the biggest in Europe, it was made of public warehouses?..Other states , created from the former Jugoslavia , don?t have such cities. Zagreb is trying to build it but has a lack of such a big space.
They don?t worry for the buyers
Investors ? Verano group?, company ? Citadel? with found ? Trijumf? will invest in the green valley, with ought infrastructure, at least half a billion of euros.It must be said that 12 millions visited ?Delta city? in one year , but in this new bad economy circumstances , demand, or better , household budget of the inhabitants is it in position to support a shopping city of this kind, that will have 500.000m2 of commercial area( ?Delta city? has 85.00m2 on 2.9 ha)?
In ?YU KAPITAL? management claims that there is a demand not for one but for two shopping cities. Municipality of Cukarica has more residents than Ljubljana, and when you add to that number 600.000 people from New Belgrade, only there you have one million potential buyers. It is planned that people from Kragujevac can arrive until ?Shopping city? in one hour when the bypass road starts to work in full capacity, and people from Montenegro and Bosnia will be coming for shopping too.
- It will have goods for every buyer, from the most cheap up to the most expensive. It will have everything from the needle until car. Opening of such a cities as well as shopping malls, as a consequence will have the closing of thousands of small shops that , already now struggle to survive.But, shopping city will enable to a 12.000 people to find jobs?as they explain in YU KAPITAL.
Who stands on the hill?
In the shopping city , where the main street is long 2 km, besides 2 shopping malls and 15 big buildings like ? Metro? and ? Merkur? that already have their position,and ? Ikea? that is expected to join, place will find : specialized shops like ? everything for house? but also restaurants and fast food chains like ? Mc Donald?s? and ?Kentacky fry chicken?, car showrooms , gas stations, kindergartens, multiplex cinemas with 20 big cinema halls and disco, bowling hall with 24 tracks , planned as a space for different celebrations?.. First buildings will start with work in two years, and the whole town will be finished in four, until that period the bridge over Ada ( whose opening was planned for the end of 2011) will be done, as well.What will take more time, due to the financial crisis, is the building of a real new town for at least 60.000 inhabitants, that will be located in the background of this shopping one. First a sport center with the tennis courts and congress center with big hotel will be built. Along with this , swimming pools , saunas, smaller golf grounds, an aqua park partially covered in a greater part that will work during a whole year and another entertainment park will be constructed. Residential area will have luxury houses with swimming pools , and inhabitants will not have to drive their children in other parts of Belgrade since this new town will have kindergardens, elementary and high schools. This new town will cover a surface of 250 ha, and even if , in the beginning it was planned to be finished in 5 years, due to the world economy crisis, a construction deadline is moved to ten or twelve years. Shopping city is for now, called ? Brdo? , and people in ? YU KAPITAL? say their job is to make it real and politicians or the mayor should give name to this new town on Ibarska motorway.
Lack of commercial space in Belgrade
America is the mother land of the shopping malls. From there they arrived in Europe around 60?s of the last century. In the Central Europe their arrival , as the tide, happened in the middle of nineties. First to come in Serbia was ? Merkator? ,six years ago. The fact that monthly it had aprox. one million visitors was an irrevocable proof for others commercial chains from the region and Europe to come in Belgrade. Experts think that even today Belgrade has a lack of hypermarkets , shopping malls?..Statistic says that on 1000 inhabitants there is only 15m2 of commercial space in shopping malls, while that space in EU countries is 170m2, and in the capitals of that countries on 1000 inhabitants there is 500m2 and more.During 14th international real estate fair (MAPIC) that took place during summer in Cannes ,where shopping malls have an important space, world famous experts have pointed out that the most affected in construction of retail sale buildings are England, Spain and Germany that have an average of more than 200 shopping malls. Serbia was for the first time in the catalogue of the fair among 40 countries. This catalogue is issued once a year and it has important information about every country that is interesting for investments, containing details regarding already constructed malls, but also about the ones that are going to be constructed, among which place found ?Shopping city?.
- 05.01.2009.
VERANO BUYS LAND ON CUKARICA MUNICIPALITY
Town for shopping on 100ha
Company ? Verano?, that already has involved business in Belgrade, is planning to start with the construction of big park-Shopping city on the Ibarska main road on Cukarica municipality, only 200 meters from newly built road bypass. Referring to the concept all complex would be on 100ha, and it would consist of half million square meters built.
Surrounded by two very important roads, as Ibarska main road and bypass road , this location has a very good transport potential, and it is suitable for this kind of project. A complex should have 17 large retail outlet with different purpose. Even if company ?Verano? has a majority means for this project , company ?Citadela? with fund ? Trijumf? is taking part in construction , as well as company ? Yu kapital?,that ?Verano? hired for the development of the land predicted for construction.
Shopping city will have car showroom , multiplex cinema , outlet stores, ?cash & carry? Hypermarket, specialized shopping malls for furniture, textile and big parking lot. This project will be constructed as the similar complexes in Vienna and Ljubljana-as people from ?Yu kapital? explain.
As they say in ?Yu kapital? , referring to the general urbanism plan , buildings of this kind can be built on this location, and if everything goes as planned, first work should start at the end of 2009 or beginning of 2010.
Project is divided in two detailed plans. One will be submitted to public opinion for about two months, and the other for four months. If the assembly accepts them, the construction could start in about one year , and in that case a whole complex should be finished during 2014. This idea is very near to realization , nevertheless , nothing is definite yet and we are in procedure of buying a land from private persons-it is said in ? Yu Kapital?
- 18.10.2008.
Urbanistic Research - Shopping Complex "Brdo"
Lately, the most often question is: Why to invest in Serbia? Even more frequent answer is: Serbia is the market with the greatest potentials in the region! If we take the expected and confirmed projections of positive development of real estate market in Serbia in consideration, we can come to the conclusion that this question and the expected answer represent a modest reflection of real expectations!
Over the last few years, Serbia registers average economic growth of 7%. High foreign currency reserves of nearly 14 billion EUR guarantee stability of the national currency, while total foreign debt does not exceed one third of the gross national product. With the annual inflation of less than 10%, the real estate market in Serbia represents the branch of economy with the best prospects. Growing purchase power of population and comprehensive recovery of the economy daily increase and dictate demand for each type of property.
This information is best demonstrated by extreme lack of contemporary retail and modernly designed urbanistic units where purchase and sale, that is, trading activities, can be carried out. According to the reliable information, Belgrade alone lacked about 800,000 square meters of various retail and shopping center space three years ago. In the meantime, not more than 200,000 square meters of such space have been developed, which confirms the "public secret" that such projects in Serbia, and not only in Belgrade, represent a viable business for future investors.
Belgrade, City of Future
In mid-2006, specialist magazine Foreign Direct Investment, published by grandiose The Financial Times group, awarded a prestigious title of the City of future of southeast Europe to Belgrade. Belgrade lies on two rivers and two corridors. It is the city with the centuries-old tradition and culture and it now lies on the crossroads of corridors 10 and 7. The city that represents the geographic center of the region with about 100m citizens utilizes 7 transportation, road-railway-water routes. The title of the City of future is justified by the fact that about 1,000 km of streets have been reconstructed over the past four years and that some sections of the city plumbing and sewerage have gone through radical changes. Also, telecommunication system and capacities in the city have been drastically refurbished and improved. With the completed bypass around the city and construction of, at least, one bridge on the Sava and one bridge across the Danube, Belgrade will additionally justify the title of the most recommendable destination for real estate investments, especially in the retail sector.
On the other hand, the existing land-utilization plans have started to favor development on previously inactive locations. The focus of development is being gradually moved from New Belgrade and the area along the highway to the west to the locations on southwest, south, southeast and east banks of the city. The area where the southwest approach to the city, also known as Ibarska main route, intersects with the bypass in the vicinity of Orlova?ka cloverleaf interchange represents a real jewel of development of new urbanistic visions, contents and quality.Micro Location
Borough of ?ukarica is one of 17 city boroughs and, according to the latest data, about 300,000 people live in this borough. Previous development land-utilization plans for this territory mainly favored construction of dense and multistorey buildings. Rare residential development was less favored. The existing network of retail facilities was not in accord with such development, so that several researches proved that this city area lacked modern retail space. It was also noticed that the people who lived in that borough travelled 10 to 20 km to buy family supplies. They even went shopping on the other side of the Danube, in Banat.
Therefore, YU Kapital?s decision to first urbanistically organize about 100 ha of unconditioned land with incomplete infrastructure is worth attention for several reasons. First of all, that will be the territory whose contents, function and purpose will be unique in and in the vicinity of Belgrade. Second of all, the area will be divided into 17 urbanistic units, 15 of which will be at 3 to 5 ha, one at 7.5 ha and one at 13 ha. In that way, a brand new shopping destination, of which working title is Shopping Complex "Brdo", will be developed in a very short time. Third of all, that will become a widely recognizable complex and the symbol of southwest banks of Belgrade.
Functional purpose of this project is obviously defined by the needs of an average citizen of Belgrade and his wish to buy everything he needs at one place. It should be expected that one such complex, like anywhere else in the world, includes specialized retail spaces where the buyers will be able to satisfy all their shopping needs concerning furniture, textile, tools, etc. There will also be multiplex cinemas, various laundries, fashion, footwear, food and fast food stores and shops.
It is necessary to point out that the concept of the project conceived in this way is not new from the urbanistic viewpoint, but it has never been brought to existence in Serbia. What awakes certain optimism and additional trust is the fact that the need for existence of one such complex has, obviously, been grasped along with the need for its development on the city banks. Having in mind the scope of activities related to introduction of infrastructure on that land, it is more than clear that this project will be a success.
Having in mind that this location gravitates towards the bypass and that the new Orlova?ka cloverleaf interchange will resolve most of the current traffic problems, the investors can hope that the offered program and concept of this location will attract big number of people from the other parts of the city who haven?t had either will or desire to come to this neighborhood before. Therefore, this "upper area" of ?ukarica will quickly grow into a new shopping node of Belgrade.
- 22.12.2008.
A NEW TOWN ON THE IBARSKA MOTORWAY
17 different retail objects will be built on 100ha. They will have specialized shops, restaurants, cinemas and sport buildings , as well.
On the territory of Cukarica municipality , along the Ibarska motorway , domestic Holding Company ?Yu Kapital? develops a project of 100ha that will have a retail park or shopping town . It will be the only project of that kind in the region. A long term plan is to buld a residential area in the vicinity , on a surface of 250 ha that could have approx. 80.000 inhabitants
REGION - As it says on the internet sight of Beobuild , location of the future Shopping park is adjacent to Ibarska motorway, only 200 meters from Belgrade bypass. According to the concept , on 100ha, it is planned to build 17 different objects in which the consumers ,on one place will find everything they need. Besides the big retail part , project features a large number of specialized shops, car showrooms, cinemas, restaurants, and other entertainment possibilities. Planned gross lettable area of the centre, as a whole, should exceed half a million square meters.
-It will be the first Shopping city in our country. It is planned to build a big hypermarket, a lot of furniture shops, specialized shops, restaurants. Our aim is to enable a family to buy in one place everything needed - Jovan Jovanovic ? Head of Investment Advisory of ?Yu kapital? Holding company , said to ?24 sata?.
Besides shopping zone, it is planned to build on 250 hectares, in the future, a residential area for 80.000 people. They will not have to worry where and what to buy, also, they will have in vicinity everything on one place. Referring to the project, they will have a recreation space, since there will be a sport zone with a hall, tennis courts, open sport fields, aqua- park, skate park and golf course. Sport zone will include hotel that will have a congress center. Children will have playgrounds, as well as, elementary and high school. A house for old people will also be built. The residential area will have luxurious villas, apartment type buildings , high buildings, and dense residential clusters.
For more details visit www.beobuild.rs
- 19.12.2008.
FIRST SHOPPING CITY FOR BELGRADE
As Beobuild constantly underlines in its texts, the positive effects of the highway bypass profoundly exceed the traffic significance of the same. From investors? perspective, it brings positive developments to Belgrade outskirts and as a proof of this fact, the largest state of the art project in this part of Europe has been recently revealed ? ?The shopping hill? or shopping city, with an attractive land development lot of 1.000.000 square metres.The location is adjacent to Ibarska motorway, in Cukarica municipality, only 200 metres from Belgrade bypass. At the junction of the two extremely important roads, the location has tremendous transport potential, which is a prerogative for such project type. According to the pre-concept 17 different retail objects are envisaged at this location. The shopping hill also features specialised shops, as well as car showrooms, cinemas, restaurants and other entertainment possibilities. Planed gross lettable area of the centre as a whole should exceed half a million square metres.
For more details visit www.beobuild.rs
- 15.08.2008.
Retail Development in Serbia
Retail development in Serbia is being more and more diversified outside the vast city areas of Belgrade, Novi Sad, Ni?, Subotica and Kragujevac. An excellent example of that is ?abac, one of the former industrial centers in Ma?va, surrounded by the Drina river on the west, the Sava river on the north and the Kolubara river on the east. The new life is being breathed into the fallen industry in this city, while the locations for various contents, of which construction will follow the development of ?abac and its surroundings, have already been defined and reserved.The territory of ?abac municipality includes crucial road and river corridors in the west of Serbia, in the valleys of the Drina and the Sava rivers. It is situated between Belgrade ? Zagreb highway (E-75), that is, Vienna ? Istanbul transverse route, in the north and cross-section Subotica ? Bosnia and Herzegovina or Subotica - U?ice transverse route M21. It occupies the area of about 800 square kilometers and, with nearly 130,000 citizens, it represents the regional center of Ma?va. Also, due to vicinity of railway corridor X, broader territory of ?abac and Ma?va has all predispositions to complete all of its potentials with the development of Valjevo-Loznica-Zvornik railway route.
Following the dissolving of SFRY, the Sava became an international river that passes through three independent states and it now represents an important factor of development of the existing industry that gravitates towards the river banks. City of ?abac is becoming an important center for distribution of larger quantity of goods to Bosnia and Herzegovina, Croatia and, of course, Serbia, which are then sent to the west and to the east. Having in mind, first of all, great agricultural potentials in Ma?va, earlier developed lumber, tanning and metal industry, as well as revival of production in ?abac and its surroundings, this whole area has enviable potentials in field of real estate development, especially retail development. SME sector?s growing demand dictates and accelerates this development.
Northwest Zone ?abac
Northwest industrial zone is the supporting pillar of the economic development of ?abac municipality. The zone occupies nearly 1,000 ha and its development should enable the reduction in number of unemployed people in the municipality through creation of new jobs and the growth of tax incomes in the municipal budget. Development of infrastructure will be finished within next few years, which represents the basic precondition for that zone and construction of facilities wherein some business will be started. In principle, realization of public utility, gas and traffic infrastructure will be the main attractors for interested investors. What additionaly contributes to the quality of the northwest zone is the information that all interested investors will be granted access to the railways.Having in mind the position of aforementioned zone in regard to Belgrade-Zagreb highway, it should also be mentioned that the preparations are underway for development of new section which will shorten the distance between this industrial zone and Belgrade-Zagreb highway by nearly 25 km.
Retail Market in ?abac
Retail space development in ?abac and neighboring municipalities has significant prospects. It is at the same level as in all municipalities in Serbia outside the big cities. The process of arrival of the regional players that deal with retail space development has been visible lately. In addition to big cities, they started developing their projects in the municipalities of In?ija, Subotica, Sombor, ?a?ak, Valjevo, U?ice, as well as in many cities in central and south Serbia.A bright example is market chain Mercator whose facility at 23,000 square meters in ?abac, 14,000 square meters of which will be retail space, will soon be completed. It is expected that this project will be finished at the end of year 2008 or at the beginning of year 2009 and that it will provide jobs for 250 people. Also, French Intermarshe, with its Serbia-based daughter company Intermax, has already opened its fourth hypermarket in ?abac. There are 60 people working in it and the investment is estimated at 5m EUR. Another market chain that is present in ?abac is Delta Maxi, and there is also a small number of local developers. Having in mind the number of citizens and expected development of ?abac municipality and its surroundings, the need for further development of modern retail centers is more than obvious.
Projects X and Y ? Future Retail Centers in ?abac
Because of everything mentioned above, it is not accidental that local development holding company YU Kapital chose two locations for its projects on the territory of ?abac municipality. The first location at 3.5 ha is named ?Project X?, while the second location at about 3 ha is called ?Project Y?. They are both situated along the road to Loznica. According to the valid land-utilization plan, there is a commercial zone for retail facilities in Majur sector. According to the allowed coefficients, development projects can be implemented at maximum 40% of the existing land.
Structure at both locations of these complexes will satisfy several classified types of lessees. There will be a space reserved for a hypermarket at 5,000 square meters, a space at up to 2,000 square meters for various appliances stores, as well as space for baby and kids stores. Also, there will be restaurants with total useful surface of up to 500 square meters.
However, the base of both projects will be a retail center at 13,000 square meters at one location and at about 16,000 square meters at the other location. Final positions and the nature of the lessees have not been defined yet, but it is already known that there will be footwear, clothing, goods and technical stores, as well as pharmacies and various medical stores.
While expecting the revival of industry in this region, the market will be offered retail spaces where the customers will be able to buy all types of goods to furnish their apartments and offices. There will also be fun and recreation contents, such as bawling alleys and playhouses for table tennis and billiard.
The basic strategy of the developer is to rent the space at 250 ? 1,250 square meters to the main anchors, which will then attract other lessees, all that for the sake of completion of the offer in this retail center. The surfaces of about 100 square meters for fun and recreation contents will also be defined within the center, so that it can be said that the structure and the types of services in it will keep the center open from the early morning to the late evening hours. What must be pointed out is the fact that such concept with aforementioned contents has never been offered to ?abac and its surroundings. It is expected that the construction will start in mid-2009 and that this retail center will receive its first lessees and visitors in mid-2010. YU Kapital plans to realize ?Project X? by itself, while ?Project Y? will be realized in association with related developers.
It will be another contribution to development of ?abac through creation of new jobs and supplementing of the current offer in the retail space market. The developer will attract new companies to ?abac, which will then offer their products and services to this city and its surroundings!
