SPLIT, CROATIA-Croatian developer Tulipan is redeveloping a site in Split into a mixed-use complex. The first $380 million phase of Split Gate will involve construction of a shopping center, 30-floor office tower and residential units.
The $215 million shopping center project will have GLA of some 646,000 square feet, with 225 shops and a number of leisure and entertainment facilities. The concept for the shopping center is being prepared in partnership with Germny's ECE Projektmanagement. It will be the third mall in Split.
The start of construction is planned for the fourth quarter, with the opening expected at the end of 2012. Finance partners for the project will be German company Capricornus and Dutch-based Eureal Holding. Design work on the other parts of the project is already underway, with construction to begin shortly after the start of the shopping centre.
The entire Split Gate project on Split’s main entry roads represents a revitalisation development of an abandoned and underused part of town. Tulipan Group is also currently developing a residential project in Dubrovnik, and a holiday-home community in Seget, near the town of Trogir. The company’s Split area portfolio also includes a residential scheme, an office tower and hotel project in Kastel Stari.
Allan Saunderson is a managing editor of Property Investor Europe and a contributor to GlobeSt.com.
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