Immofinanz is following its market entry in Italy with the expansion of Stop Shop retail park brand in Croatia.
In Croatia, plans call for an increase in the number of Stop Shops from the current level of 4 to more than 20 locations over the medium-term.
The completion of a newly developed unit and the expansion of an existing location are scheduled for the first half of 2022.
Immofinanz secured 22 sites in medium-sized Croatian cities for the development of Stop Shop retail parks.
The purchase price for these sites totals approximately EUR 80 million. Investment volume for the new locations will total over EUR 250 million.
The retail parks that will be built on these sites have more than 190,000 sqm of rentable space.
Stop Shop units are opened in Slovakia (16), Slovenia (14), Hungary (14), Serbia (14), Austria (13), Czechia (12), Poland (10), Croatia (4), Italy (1), Romania (1).