Central European shopping centre developer Plaza Centres has purchased its third scheme in Serbia, near Belgrade.

Shopping centre

The London-listed company plans to spend €105m (£75m) developing a shopping centre of 430,560 sq ft on a land plot next to one of the main roads into the city.

The scheme, which will also include a small amount of office and residential development, has a catchment area of approximately 400,000 residents.

Exciting prospects

Ran Shtarkman, president and chief executive officer of Plaza Centers, said: ‘In acquiring our third development project in Serbia in only four months, we are demonstrating our firm belief in the exciting prospects for the region.

‘The economic growth in Serbia will encourage strong demand for large-scale, mixed use developments from commercial occupiers and visitors.’