As a longstanding investor in the Serbian market, CPI Property Group invests in projects that not only contribute to the development of local communities, but also provide lasting value
CPI Property Group currently operates STOP SHOP retail parks in Subotica, Sombor, Šabac, Sremska Mitwwrovica, Vršac, Belgrade, Lazarevac, Požarevac, Smederevo, Čačak, Valjevo, Zaječar, Niš and Leskovac. While its portfolio of 14 parks is already impressive, all indicators suggest that significant potential for expansion still exists in Serbia.
A STOP SHOP retail park is far more than just a shopping space. It is also a gathering place and a hub for interactions between residents of a city and its broader region. It exemplifies our contribution to the local communities where we aim to enable long-term development and enhance quality of life. We are proud of our collaborations with all our partners, but also excited about future business opportunities that allow us to continue our mission of creating spaces that are synonymous with quality, safety and innovation. S
TOP SHOP SUBOTICA: THE NEWEST AND LARGEST
We are witnessing significant changes when it comes to consumers’ needs and expectations. New generations are seeking more than just a shopping experience – they want spaces that offer engagement, connection and quality. That’s why we carefully curated the tenant mix for the STOP SHOP retail park in Subotica in order to meet these expectations. In line with our corporate goals, construction of the second phase of STOP SHOP Subotica represents a significant step forward in our strategy. Upon completion and opening, scheduled for the November this year, this retail park will become our largest in Serbia, spanning almost 16,000 square metres of commercial space.
EACH DEVELOPMENT PHASE ADHERES TO SUSTAINABILITY STANDARDS
Sustainability is a company priority that’s reflected in every project we undertake. We are developing solar power plants and installing solar panel systems on rooftops at several STOP SHOP locations, thereby providing sustainable energy and reducing our ecological footprint. Every new phase of development adheres to sustainability standards and contributes to resource conservation. Our goal is to become a unique example of a responsible investor, while encouraging our tenants to join us in adopting sustainable solutions. Our ambition is for every retail park to become self-sufficient, relying heavily on green energy.
Finally, we must emphasise that our success isn’t solely business-oriented. While we take pride in our achievements, our greatest success lies in the involvement and support of our partners and the everyday lives of residents in the cities where we operate. By enhancing their quality of life and convenience, we aim to create lasting value.
YEAR OF CONTINUOUS INVESTMENT AND DEVELOPMENT
For Maja Dulc, CPIPG Country Manager for Serbia, 2024 was a year marked by ongoing investments and growth. She expressed her satisfaction with the expansion of the STOP SHOP retail park in Subotica, which added an additional 6,000 square metres to bring the total to nearly 16,000 square metres, making it the largest retail park in the company’s portfolio.
In line with corporate goals, the construction of the second phase of the STOP SHOP Subotica retail park represents a significant step forward in our strategy
“Given that the Serbian market is well-suited for implementing retail park solutions, we see potential for further expansion of our portfolio, particularly in smaller communities that currently lack this concept of one-stop shopping,” says Dulc.
Additionally, CPI Property Group, as a leader in retail sustainability and green building, continued to invest in this area. In addition to the operational PV power plants in Požarevac, the company can now boast similar installations in Zaječar, Leskovac and Smederevo, with another, in Šabac, expected to launch operations by the end of the year.
FULLY LEASED PORTFOLIO
From a leasing perspective, the company has tackled challenges successfully and maintained a stable portfolio. Senior Leasing Manager Vladimir Perović notes that the business year concludes with 100% occupancy across all STOP SHOP retail parks.
“The opening of the second phase of the STOP SHOP Subotica project, characterised by an attractive tenant mix, symbolically crowns our successful business year,” highlights Perović.
Through a diverse range of brands and services, our retail parks have become new hubs for shopping and entertainment, as well as gathering places for families and young people
Leasing Manager Nikola Veličković agrees and states proudly that the entire STOP SHOP portfolio, totalling 132,000 square metres, has been fully occupied for the fourth consecutive year. An equally important achievement was leasing the new second phase of STOP SHOP Subotica, attracting renowned brands like Decathlon (making its first appearance in our Serbian portfolio), McDonald’s Drive-Thru, KFC, Maxi, Kengur, Lilly and many others. Numerous important contracts have also been signed and are set for implementation over the coming year.
According to Senior Asset Manager Mladen Mladenović, the portfolio (approximately 300 units, plus speciality leasing) saw a year-long increase in visitor numbers, contributing to a rise in tenant turnover—one of the main indicators of successful operations. “A collection rate above 99% is testament to the effort and diligent work invested,” notes a proud Mladenović.
CREATING DISTINCTIVE AND UNIQUE EXPERIENCES
For Senior Development Manager Miodrag Perović, 2024 was also a successful year.
“We successfully integrated the second phase of STOP SHOP Subotica into the existing concept, adhering to the construction standards that we apply, resulting in a unique openair shopping centre. One particular challenge was creating a standalone unit for a tenant specialising in hospitality, where our traffic solutions ensured full functionality and operational efficiency,” explains Perović.
This year, as part of CPIPG’s commitment to sustainable development, the company completed the installation of solar power plants at four locations, significantly advancing the company’s long-term ESG goals.
Marketing & PR Coordinator Milena Milenković is equally pleased with the marketing results. She emphasises that, through a diverse range of brands and services, the company’s retail parks have become new hubs for shopping and entertainment, as well as gathering places for families and young people.
“By implementing a targeted marketing strategy and maintaining excellent daily cooperation with tenants, our goal is to create distinctive and unique experiences for visitors. This often includes themed and seasonal events, targeted promotions and special shopping experiences through dedicated shopping days tailored to different objectives and target groups. This approach builds brand awareness and fosters an emotional and loyal connection with visitors and end consumers,” explains Milenković.