After the successful opening of the new STOP SHOP retail park in Kaštel Sućurac, the IMMOFINANZ company announces that in the coming period, the opening of more STOP SHOP parks is planned on the Adriatic coast, but also throughout Croatia. The ultimate goal is to secure more than 20 locations for the development of this recognizable brand, as well as to invest approximately 250 million euros in the next three to five years.
The company IMMOFINANZ recognized the quality of the Croatian market, which showed full potential for development and upgrading even during the crisis caused by the COVID-19 pandemic. For many years now, the company has been investing in the Croatian area, and the investment that stands out is the entry into the domestic market with STOP SHOP retail parks in 2018. The 101st STOP SHOP retail park in Europe was opened in Croatia, STOP SHOP Kaštel Sućurac. The first is the STOP SHOP, which is located on the coast, and whose purpose will be to supply different brands to the local population, as well as tourists.
"In Croatia, IMMOFINANZ found fertile ground for exactly this type of business, because Croatian cities are optimally sized for the offer that STOP SHOP as a concept offers to its tenants, as well as to consumers. The opening of the new STOP SHOP retail park, the first of, I hope, many on the Adriatic coast, opens up the possibility for our company to expand its business from supplying the local population to meeting the needs of tourists who will come to these parts during the summer months. It is for this reason that we look forward to the next period, to see if we are in step with our predictions", said Joško Piteša, country manager operations for Croatia.
According to research carried out by IMMOFINANZ, it can be concluded that consumer demand in Croatian regions has the potential to open retail spaces in smaller and medium-sized cities. The Austrian company has open retail parks in Croatia in Osijek, Valpovo, Ludbreg, Našice and Kaštel Sućurac, and according to feedback from the local population, this brand is well accepted in Croatian regions, considering that the demand for affordable items is what is especially appreciated by the local population.
"We consider the Croatian market one of the key ones, and in the future we see great potential in it for expanding our portfolio. In our plans, we decided to focus on medium-sized cities in order to provide the local population with places where they can find everything they need, without going to larger cities. According to the studies we conducted as a company, we came to the conclusion that there is a need for more than 20 retail parks in Croatia. After we expand from the current 5 parks to the planned more than 20 locations, our STOP SHOP retail parks will have more than 190,000 square meters, and will also open 5,000 new jobs for the local population," added Joško Piteša.
The next investment that the Austrian company will make on the Croatian market will be in the form of another STOP SHOP retail park, which this time will be opened in Velika Gorica. This will significantly enrich the shopping choices for the residents of another medium-sized city in Croatia and simplify everyday life. According to the feedback that IMMOFINANZ as a company receives from the tenants and local communities of its previous locations, Croatia is an ideal market for the STOP SHOP retail park concept, therefore it will continue to invest in the Croatian economy in the future.