THE CONSTRUCTION OF THE LARGEST RETAIL PARK IN BELGRADE, CAPITOL PARK RAKOVICA, IS IN PROGRESS, WITH THE GRAND OPENING SCHEDULED IN OCTOBER 2017. CAPITAL PARK RAKOVICA IS A RETAIL COMPLEX MADE OF TWO SEPARATE OBJECTS ORGANISED AROUND AND WITHIN THE CENTRAL PLAZA OF A TOTAL BUILT SURFACE IN EXCESS OF 21,000 SQM WITH 30 STORES CONTAINING WORLD-FAMOUS BRANDS AND MORE THAN 750 CAR PARKING SPACES IN THE FIRST PHASE OF THE DEVELOPMENT ALONE. THE TOTAL LAND AREA IS OF 65,000 SQM.
The tenants are local and foreign trade and fashion chains, a hypermarket, as well as stores for home décor, sports, shoes, toys, electronics and other services.
Approximately EUR 30 million was invested in Capitol Park Rakovica by British property investment, development and management company Poseidon Group. The company has operated in Serbia for more than a decade and operates two other retail park projects in Sabac and Sombor.
Bojović & Partners’ engagement included due diligence, dealing with bankruptcy processes when acquiring the real estate on which to build the scheme, drafting transactional documentation, managing the permitting process, preparing construction contracts, conducting the conversion of the right of use on land into ownership, drafting and negotiating more than 40 lease agreements, and other related legal matters.
Partner Marija Bojović and Real Estate Practice co-head Ivan Gazdić, with support from associates Mario Kijanović and Miloš Radonjić led the Bojović & Partners’ team advising the transaction.
This news item was originally published by Bojović & Partners on this link.