- EBRD extends €72 million loan (part of a €100 million envelope) to BIG CEE
- Funds will finance development, upgrade and acquisition of modern retail parks and shopping centres in Serbia and the Western Balkans
- Loan aligns with green and inclusive goals of EBRD's Real Estate Sector Strategy
The European Bank for Reconstruction and Development (EBRD) is providing an additional loan of up to €72 million to BIG CEE, a limited liability company incorporated in the Netherlands, as part of a €100 million envelope of loans to support its expansion in Serbia and the Western Balkans.
BIG CEE will use the funds to finance the development, upgrade and/or acquisition of modern retail parks and shopping centres.
Vlaho Kojakovic, EBRD Head of Real Estate, said: “We are delighted to support BIG CEE's expansion in Serbia and the Western Balkans, a move that aligns seamlessly with the EBRD's Real Estate Sector Strategy 2025-29. This strategy emphasises investing in the green transition, strengthening the resilience of human capital and addressing housing and affordability challenges. Through our newly established partnership with BIG CEE, we endeavour to jointly create sustainable, high-quality retail infrastructure that fosters economic growth and enhances consumer experiences in the region.”
Alon Bargiora, Chief Financial Officer at BIG CEE Serbia, said: “We are pleased to continue and expand our cooperation with the EBRD in financing four projects in Serbia. This investment includes existing retail centres in Pančevo and Rakovica as well as the construction of new retail parks in Čačak, Šabac and Bor, which we expect to open in 2025. I want to thank our partners at the EBRD for their trust, cooperation and contribution to the growth of our business in the Balkans, particularly in Serbia.”
BIG CEE is a leader in the region’s retail sector, with 16 active properties – 14 of which are in Serbia –10 retail parks and three BIG FASHION shopping centres, including Serbia’s Promenada Novi Sad, which it recently acquired in the largest single-asset transaction in Serbia’s commercial real estate market. Its portfolio also features the country’s only designer outlet, BIG Fashion Outlet Inđija. In Montenegro, BIG CEE owns the largest shopping centre, BIG FASHION Podgorica, and the mixed-use Capital Plaza.
The EBRD is the leading institutional investor in Serbia, having invested more than €9.8 billion through 374 projects to date. The Bank invested €807 million in Serbia last year as it continued to increase its activities in the country. The Bank’s focus in Serbia is on private-sector competitiveness, the green economy transition and sustainable infrastructure.