ZAGREB, CROATIA-Austrian private developer M2 has received a building permit to develop a shopping and entertainment centre in its $300 million mixed mall, offices and hotel project in the Croatian capital of Zagreb, Supernova Buzin. Project finance has already been secured.
The first phase of the project includes retail premises for about 200 units, with a 25-story office and hotel tower of 323,000 square feet planned for the second stage. Zagreb-listed construction, engineering and manufacturing company Dalekovod has been awarded the $88 million contract to build the mall which, with 861,000 square feet GLA, is currently 70% pre-leased.
The developer has over the past 11 years developed retail centres in Austria and Slovenia as well as Croatia, where it has opened in Slavonski Brod, Sisak and Varazdin. It plans further malls in Zadar, Karlovac and Osijek.
Allan Saunderson is a managing editor of Property Investor Europe and a contributor to GlobeSt.com.
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