Aviv Arlon to Open EU28 Million Retail Park Near Belgrade in May

Tel Aviv-based property developer Aviv Arlon will open a 30,000 square-meter (322,900 square feet) retail park in Pancevo east of Belgrade next month.

The 28 million euro ($40 million) retail center will include department stores, shops, cafes, restaurants and 700 parking spots on a 7.3 hectare (18 acre) lot, 14 kilometers (22 miles) from the Serbian capital, Marketing Manager Danka Gladovic said.

Aviv Arlon has already completed a 4,500 square meter portion of the complex and leased it long-term to a local supermarket chain, she said.

The retail park is Aviv Arlon’s first project in Serbia, where it also plans a mixed-use residential and commercial development in Belgrade, totaling 32,000 square meters and 280 residential units. Construction is to begin later this year with completion expected by the end of 2012, Gladovic said.

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