Banca Intesa is teaming up with PBZ Bank of Croatia and VUB Bank of Slovakia to offer $69.9 million in financing to build Ada Mall in Belgrade.
The mall will be the first Serbian retail investment for Globe Trade Centre (GTC), offering 34,400 square feet of retail space once complete, according to a Banca Intesa press release.
The high-end shopping center will be in Cukarica, across from Ada Ciganlija, a popular recreational spot. The mall will host more than 100 shops, as well as entertainment and relaxation areas, including a rooftop garden with a view of the lake.
GTC received its final building permit for the mall a couple months ago and has started construction. The mall is expected to be open for business in autumn next year.
All the banks are part of Intesa Sanpaolo group.
