European Bank Funds Eco-Friendly Macedonian Mall

Artist's rendition of the shopping mall | By: Balfin

The EBRD is backing the development of the mall with an €18.9 million loan to Balfin Finance B.V.

This is the Bank’s first investment in the Macedonian property and retail sector, which is looking to compete with other countries in the region in terms of modern shopping space.

The project developer is a joint venture company with an equal shareholding between Fashion Group, the largest retail group in the country and Balfin, a leading retail and real estate development company.
 
Based in Albania, Balfin operates several shopping centres and is also the main owner of the leading Macedonian electrical retailer Euro Media.

Located three kilometres west of the city centre with convenient transport links, Skopje City Mall will be the first of its kind in Macedonia. The centre, costing around €70 million is already in construction.

With a total area of 86,000 square metres, it will comprise 150 shop units on three levels anchored by a 4,600 square metre hypermarket and a car park with 1,300 spaces. It is expected to be completed by the end of 2012.
 
It will be built using advanced energy efficiency technologies, including improved levels of thermal insulation, energy-saving lighting, high efficiency heat recovery and an integrated building management system.
 
These advanced technologies will enable the retail centre to cut its carbon footprint by 27 per cent compared with usual construction standards in Macedonia.