Difficult Times for Austrian Investors in Zagreb

People ♦ Published: December 10, 2010; 21:26 ♦ (Vindobona)

The plan of an Austrian group of investors to build the largest shopping center in Europe in the Croatian capital threatens to fail.

Difficult Times for Austrian Investors in Zagreb / Picture: © Wikimedia Commons / Ninjakeg [CC BY-SA (https://creativecommons.org/licenses/by-sa/3.0)]

The "Westgate" shopping center was opened in 2009 in the Croatian capital Zagreb. While investors still see great potential, industry experts question the project.

There are 260 shops on 100,000 square meter, with an investment of € 270m so far, only 30% stemming from loans. The investor group consists of Austrian entrepreneurs, including Ernst Kirchmayr as operator of a…

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