BIG CEE acquires Delta City Mall in Montenegro for €95 million

BIG Shopping Centers reports that the subsidiary CEE-BIG BV, which is 95 percent owned by BIG, has signed an agreement to purchase Delta City mall located in Podgorica, Montenegro, at an agreed value of €95 million, of which €57 million will be financed by a bank loan.

Hay Galis, CEO of BIG Shopping Centers, says: “We are acquiring strategic properties in the region, in line with the company’s expansion strategy for the Balkans and Eastern Europe. BIG continues to locate strategic assets in order to expand its commercial power. Delta City Podgorica is one of the most powerful assets in the country and one of the most powerful commercial facilities in the Balkans. It is fully leased and many leading international retail chains are interested in joining it.”

“We at BIG are looking forward to merging the mall into the group and enhancing this excellent property,” said Lev Weiss, CEO of BIG CEE who is leading the operations in Serbia and the Balkans.

The shopping centre has 24,500 sqm GLA of commercial space, 1,000 parking spaces and an occupancy rate of about 100 percent. It is anchored by ZARA, Pull & Bear, Bershka, Mango, Nike, Tommy Hilfiger, New Yorker, Pandora, Under Armor, Replay, Springfield and many other brands, accompanied by Cineplexx multiplex cinemas and a children’s entertainment area.