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SIBENIK, CROATIA-Responding to the increasing demand for retail outlets in Croatia, the Zagreb-Montaza Group is transforming a Sibenik shopping center here into a 580,000-sf regional shopping mall. Investors are putting $74 million into the retail makeover, which will create an international-style shopping destination. Colliers International Croatia will be the exclusive leasing agent.

“There is currently a major boom in shopping center development in Croatia, Nenad Peris, senior consultant retail of Colliers Croatia tells GlobeSt.com. “In comparison to the Western European average, there is still a major shortage of retail space here. Improving living standards are driving an increase in demand which is being met by the construction of new shopping centers.”

Dalmare Shopping Center has a regional catchment area of more than 130,000 residents within 30 minutes drive and a direct catchment area of the 70,000 residents of Sibenik–a city in Central Dalmatia on the Adriatic Sea–and its close surroundings within 15 minutes drive, and a direct bus connection to the center of Sibenik. It is a located on a major thoroughfare, the main Sibenik-Split road, at the junction of the Zagreb-Dubrovnik highway.

“New Yorker and Sephora are a couple of the big-name retailers who will be leasing at the center,” Peris tell GlobeSt.com “In general, however, the retailers who will be most attracted to this opportunity will be middle rather than higher-end.”

Colliers International Croatia already been active in retail leasing in Croatia. It leased out the country’s first ‘third generation’ shopping center, Avenue Mall in Zagreb, and brought many big name international retailers to the country. Colliers International Croatia is also set to announce in the following weeks and months a series of shopping centers across Croatia that it is leasing out.

“This upgrade is going to transform Dalmare into the leading shopping center in the area, says Vedrana Likan, general manager of Colliers International Croatia. Tomislav Perovic, managing director of Colliers International Croatia, adds, “Dalmare’s phased development and its repositioning into an international-style shopping center is a unique example in Croatia We are looking forward to this experience and above all we are happy to support the Sibenik region with the new advanced retail project that Dalmare will soon become.”

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