A €100 million investment for further expansion in the Balkans
BIG CEE, the subsidiary of BIG Shopping Centres Israel, has signed a financing agreement with the European Bank for Reconstruction and Development (EBRD) worth €100 million. BIG CEE will use the funds for its development in the Balkans to build three new retail parks in Serbia, further expanding its network. In addition, part of the funds will be allocated to refinancing two existing retail parks.
The projects supported by EBRD funding include new retail parks in Čačak, Šabac, and Bor, with their opening scheduled for the end of 2025. The first phases of these centers will add 40,000 square meters to BIG CEE’s portfolio. The properties in Šabac and Čačak introduce an entirely new format to the market, featuring a “lifestyle” concept that combines high-end shopping, gastronomy, and entertainment, providing visitors with a unique experience in every aspect. By the end of the year, the company’s portfolio will reach nearly 450,000 square meters. In addition to financing new projects, a significant portion of the funds will be directed toward refinancing existing centres in Rakovica, and Pančevo.
“We are pleased to continue and expand our cooperation with the European Bank for Reconstruction and Development (EBRD) in financing six existing projects in Serbia. This investment includes the refinancing of centres in Pančevo, and Rakovica, as well as the construction of retail parks in Čačak, Šabac, and Bor, whose opening we eagerly anticipate by the end of 2025. I want to thank our colleagues at EBRD for their trust and cooperation, as their dedication contributes to the growth of our business in the Balkans, particularly in Serbia, through this credit line,” said Alon Bargiora, CFO of BIG CEE.
Vlaho Kojaković EBRD Director, 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 2025-2029. This strategy emphasizes investing in the green transition, strengthening human capital resilience, and addressing housing and affordability challenges. Through our newly established partnership with BIG, we endeavour to jointly create sustainable, high-quality retail infrastructure that fosters economic growth and enhances consumer experiences in the region.”
With 16 active properties, 14 of which are in Serbia, the company is recognized as a leader in the retail sector. BIG CEE’s portfolio includes 10 retail parks and three shopping centres under the BIG FASHION brand as the company recently acquired Promenada shopping centre in Novi Sad, a transaction largest amount spent on single asset, not only for the company, but also largest in the commercial real estate market in the country. Portfolio includes and the only designer outlet in the country, BIG Fashion Outlet Inđija.
In Montenegro, the company owns the largest shopping centre, BIG FASHION Podgorica. Additionally, the company’s portfolio includes the mixed-use property, The Capital Plaza, which comprises office and retail spaces, a hotel, and rental apartments. BIG CEE plans further portfolio development in Montenegro through the expansion of existing properties as well as the construction of new ones.
BIG Shopping Centres stand out for their rich offerings of entertainment, educational, and cultural events that attract numerous visitors. The company strengthens its market position, making its properties not only excellent places for shopping but also hubs of social life.
The cooperation with EBRD reaffirms BIG CEE’s commitment to sustainable development and investments that enable long-term growth in the Balkans. Through continuous investments, the company constantly enhances and expands its portfolio, strengthens brand recognition among local consumers, and elevates the experience for visitors at all locations.