First International-Style Shopping Mall in Montenegro to Open October 1st

Colliers International the exclusive leasing agent for Delta City Podgorica.

Podgorica, Serbia and Montenegro, September 25, 2008 --( The first international-style shopping mall in Montenegro, Delta City in Podgorica, is set to open October 1st. Colliers International is the exclusive leasing agent, previously responsible for the resounding success of the leasing of Delta City in Belgrade, which featured a host of big international retailers.

Delta City in Podgorica will feature brands including Zara, Marks & Spencer, Navigare, Pull & Bear, Gant, Bershka, Bata and Via Spiga along with Costa Coffee, Astoria and Sport Cafe restaurants – altogether some 75 stores in total. It will also house the biggest cineplex in the county.

Delta City will have a GLA of 24,000 m2. Located three kilometers from the center of Podgorica, its primary catchment area – the entire city of Podgorica – will be nearly 200,000 people. Its secondary catchment area, the center and south of the country, raises that figure to nearly 450,000 people, or nearly two thirds of the country.

Delta Real Estate is the leading shopping mall developer in Serbia and the region. Currently, Delta Real Estate is undertaking work on another ground-breaking mall in Belgrade, Delta Planet, and has significant regional plans for expansion.

Jelena Jevremovic, Head of the Retail Department at Colliers International Serbia responsible for bringing some of the big name international retailers to Montenegro, said, “We believe that bringing big names like Zara to Podgorica will be critical for the success of the mall. We think that the people of Podgorica are going to be very excited by the quality of the retailers that we are bringing to town! This mall is going to transform shopping in Montenegro!”

Jovica Jakovac, Managing Director of Colliers International Serbia, said, “We are extremely proud to have worked with Delta Real Estate on both Delta City in Podgorica and Delta City in Belgrade. We are both the clear market leaders in our fields, and together we are able to deliver a great product to the marketplace!”

Andreas Marambos, Managing Director, Colliers International Montenegro, concluded, “We are very proud to be bringing a landmark project like this to the people of Montenegro and we look forward to delivering more outstanding developments here.”

Dejan Racic, CEO of Delta Real Estate and responsible for regional expansion, stated: “The first shopping mall in Podgorica is of great importance for our presence and positioning of Delta Real Estate in the Montenegran market as well as in the Balkan region. We are proud that, together with our partners, we delivered this significant project in a very short time period. Delta City, with its great assortment of brands in one place is going to transform shopping, while its fantastic entertainment facilities will make it a major attraction not only for the people of Podgorica, but for the whole country.”

Colliers International Southeast Europe was named Property Consultant of the Year for the region in 2008 for the third straight year. It has eleven offices in six countries: Albania, Bulgaria, Croatia, Greece, Montenegro and Serbia, and performs selected assignments in Slovenia, Bosnia & Herzegovina, FYR of Macedonia, and Cyprus.

Colliers International Southeast Europe currently has 3,000,000 m2 of projects under exclusive representation. It is bigger than all three of its nearest competitors put together, and has averaged growth of 69% in the last five years per annum.

Colliers International is a worldwide affiliation of independently owned and operated companies.

Colliers International Southeast Europe
Christen Thomson
+ (385) 99 218 7603