BIG CEE Acquires Promenada Shopping Mall In Serbia

The acquisition of the leading shopping mall in Novi Sad for €177 million by BIG CEE marked Serbia’s largest retail transaction to date. Promenada, one of the country’s most prominent malls, boasts a 100 percent occupancy rate, features numerous international brands, and attracts more than 10 million visitors annually.

“This acquisition represents a significant step forward in our long-term expansion and investment strategy in premium commercial real estate, contributing to the local community and economic growth. I am confident that Promenada, as the largest shopping mall in our portfolio, will continue to offer exceptional experiences to visitors, while we, as a company, remain committed to its enhancement and continued growth. Our goal is clear – to be synonymous with quality, innovation, and leadership in the retail sector, both in Serbia and across the region,” said Lev Weiss, CEO of BIG CEE.

Among the mall’s tenants are major brands like ZARA and other Inditex group brands, Nike, Adidas, Tommy Hilfiger, Calvin Klein, Hugo Boss, NewYorker, Sephora, Pandora, Replay, a concept store by Ikea, LPP group brands, and many more. The mall also features a supermarket, a cinema, and an entertainment and dining complex.

The transaction was led by Uzi Eli, VP of International Business Development at BIG Group.

Lev Weiss emphasizes that the acquisition aligns with BIG CEE’s growth strategy, which focuses on shopping centres and mixed-use complexes. He adds that acquiring Promenada is an especially attractive investment and a unique opportunity to gain a powerful asset that will significantly strengthen BIG’s commercial activities and partnerships with leading European tenants.