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Real State |
Sarajevo City
Center
Project Overview
The overall project comprises of three separate
yet complementary components. The complex
comprises of a Hotel, Commercial Office Space,
Shopping Mall & Entertainment Complex, and a
Parking Garage that will service the whole
complex. The complex will be constructed
simultaneously.
The project is located in a central downtown
Sarajevo area. The high class Hotel will have
200 rooms and a total constructed area of 16,000
m2. The Commercial Office Space and the Shopping
Mall & Entertainment Complex will also have a
total constructed area of approximately 40,400
m2 each, which will include allocation for both
retail and support service areas. The Parking
Garage will be built on total area of 35,100 m2
and will have the capacity of 1,150 parking
spaces.
The following facilities will be provided in the
Shopping Mall & Entertainment Complex:
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Hypermarket |
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Food Court |
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Ice Skating Rink |
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In-Line Retail and Other Facilities |
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Gaming Arcade/ Children’s Play Area |
The project represents a high value
proposition with world-class products and
services at competitive pricing.
The project has major competitive advantages
being the first of its kind complete hybrid
complex in Bosnia and Herzegovina, located in
the main commercial hub of the city.
AL SHIDDI-MAGROS PROJECT OVERVIEW
1. Shopping Mall & Entertainment Complex:
The proposed “Shopping Mall & Entertainment
Complex” (SMEC) is in many ways the “first of
its kind” Shopping Mall in Bosnia, designed
similar to the hybrid/ mega Malls of the West
and the Middle East. A hybrid mall is basically
a large enclosed mall complete with a
Hypermarket, In-Line Retail and Entertainment
Areas with facilities such as the Ice Skating
Rink, Children's Play/Entertainment Areas, Food
Court, and Specialty Restaurants/Cafes, etc.
The project is situated in the Marijin Dvor,
which is Sarajevo’s central and most affluent
commercial and residential neighborhood. A total
area of 12,000 m2 has been acquired for the
project in the area where previously MAGROS
shopping center has been located.
The Shopping Mall and Entertainment Complex will
have a total constructed area of approximately
21,600 m2, which will have a dedicated area for
a Hypermarket, In-line Retail outlets,
Entertainment, etc.
The following facilities have been designed in
the composite Shopping Mall & Entertainment
Complex:
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Hypermarket |
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Food Court |
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Ice Skating Rink |
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In-line Retail and Other Facilities |
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Gaming Arcade/ Children’s Play Area |
SMEC’s Objectives:
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To set up the “first of its kind “Shopping Mall
in Bosnia and Herzegovina in line with
international standards |
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To provide international standard shopping and
entertainment |
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To provide quality shopping and entertainment
facilities for all ages in a safe and hygienic
environment |
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To provide exclusive family oriented shopping
under conducive ambience |
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To offer a wide range of quality products at
reasonable prices |
Competitive Advantage:
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Located in the main commercial hub of the city
with close proximity to the most affluent
residential areas in Sarajevo |
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Excellent land space allocated for future
development and support areas such as car
parking, central Government building, etc. |
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Leading team of Architectural and other
Consultants who will work in close coordination
with interior, landscape, lighting and signage
consultants |
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A complete, first of its kind, hybrid mall with
Food Court, In-line Retail and other facilities,
Gaming Arcade, Ice-Skating Rink and Hypermarket |
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High value proposition with world class standard
products and services at competitive price |
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Experienced management with relevant retail and
hospitality management experience |
1.1. Hypermarket
The main component of the mall will be the
setting up of an international standard
Hypermarket for the first time in Bosnia.
The concept of Hypermarket has been extremely
successful through out the world and considering
the fact the US retailer Wal-Mart is considered
the largest company in the world, the potential
that such markets offer cannot be over
emphasized.
The Hypermarket in its true sense is similar to
a large discount store that ideally stocks a
higher percentage of food items than non-food
items. The stocks include fresh as well as
packed/frozen edible items and other branded and
unbranded items, which are sold at competitive
prices due to the economies of scale that such
establishments are able to generate.
1.2. Food Court:
The concept of a Food Court in a Mall refers to
a more open surrounding whereby a centralized
seating area has various food outlets usually
offering a combination of traditional and fast
food items with both local and foreign
franchises. This concept is new in Bosnia and
Herzegovina and it will be something
interesting. The existing small shopping centers
have something similar, but different in a way
that there is only one restaurant with self
service of different foods. This restaurant is
usually connected to the supermarket with the
same owner, providing no variety of foreign
cuisine and franchises.
The Food Court is not only an attraction in
itself but will also provide an ideal
opportunity for visitors to the Mall to have
lunch or dinner or other facilities, who may
have come for the Hypermarket or the In-Line
Retail.
1.3. Ice Skating Rink
Since Sarajevo is an Olympic city, Ice-skating
is a very popular recreational sport. However,
the only location where it is available for the
public is Zetra Olympic Sport Center, and it is
open for only 3 months per year. There is an
obvious need for another location to offer this
facility, especially during the other periods of
the year other than during the winter.
SMEC will provide a state-of-the-art Ice Skating
Rink, on the Ground floor which will make this
Mall exclusive and different from its
competitors. It will be a fun place for the
whole family, young and old alike. The Ice
Skating Rink will be a small indoor oval skating
rink available throughout the year.
1.4. In-Line Retail and Other Facilities:
Branded stores offer a variety of designer goods
both local and international. There are a number
of branded chains of store and outlets operating
in Bosnia and these are also present in all the
major shopping areas of Sarajevo.
These shops will offer a wide variety of quality
products and shopping facilities for all ages.
The mall will provide an exclusive
family-oriented shopping ambience and cater to
the shopping needs of all ages and income
segments.
1.5. Gaming Arcade/ Children’s Play Area
The facilities of the Play Area and video
related games are available at various places in
Sarajevo but are very small and limited with
types of games and other recreational facilities
for children. There is a major need for such
facility as it can be an ideal solution for
birthday parties and other celebrations for the
children. Such place will make the children
happy, as well as the parents, as it would be
much easier for them to organize a great time
for their children.
2.
Commercial Office Space
* Composite view of Shopping Mall &
Entertainment Complex, Hotel and Office Space
Currently in Sarajevo, the complex of this kind
does not exist. There are a few office buildings
with a few shops on the ground floor. However
there are no Shopping Malls and Centers that
have commercial offices as part of their set up.
The area allocated for the Commercial Office
Space is 23,000 m2 and development will start in
the year 2008 and it will be operational by the
year 2011. The building will have 18 floors,
with lower 4 floors reserved for the shopping
complex.
2.1. Hotel / Furnished Apartments Tower
This project’s hotel tower will be developed on
an area of 13,600 m2. The construction of this
tower will start in the year 2008 and it will be
operational in the year 2011.
The tower will have 18 floors with lower 4
floors reserved for the shopping complex. The
rest of the floors will have rooms and other
hotel facilities such as conference room, gym /
swimming pool / health spa, grand ball room,
billiard room etc. There will be 200 rooms for a
5 Star Hotel. The investor may still decide to
have a combination of hotel rooms and Maisonette
service apartments (comprising few rooms each).
The concept of furnished apartments has gained
significant popularity. They offer the right
sort of family oriented environment for
individuals or families visiting from abroad or
other cities for a limited period.
2.2. Parking Garages
Besides servicing the Shopping Mall (SMEC), the
Hotel/ Furnished Apartments Tower and the
Commercial Office Space, the Parking Garages in
this area of Marijin Dvor are very much needed
by the other neighboring institutions as well.
The area allocated for the Parking Garages is
35,100 m2.
Area of 30 m2 is required per garage; thereby
the approximate number of parking spaces will be
1150. The development will start in the year
2008 and it will be operational by the year
2011.
CONCLUSION
The proposed project shall reflect the
international concept and standards. It shall be
the first hybrid complex that will cater to
varied needs of consumers/visitors. The proposed
concept aims to achieve its objectives of
providing world class hotel, office space,
shopping and entertainment facilities
encompassing a unique atmosphere. Undoubtedly,
shopping is a major attraction for the people of
Sarajevo as it is customary for them to spend
their leisure time shopping and as such this
project is poised to attract visitors and
shoppers because of the anticipated unusual
ambiance and architectural features. This
project aims at building a shopping and
entertainment haven in the city of Sarajevo that
offers world-class services. The facilities
available at the complex will cover both
shopping and entertainment aspects. The wide
range of facilities at this mall will cater to
all ages and will be first of its kind in Bosnia
and Herzegovina.
The positioning of the Complex and the rapidly
increasing market size in terms of the growing
number of foreign visitors and tourists as well
as local households present a strong case for
the viability of the project. Revenue estimates
calculated on the basis of customer base and
consumer spending is to a great extent
conservative considering the market demand and
timing of the project and the potential of the
target market.
Project costs for the infrastructural
requirements have been based on independent
estimates with a view to maximizing high quality
finishes coupled with modern technology.
Furthermore, the multi-usage Complex design
ensures optimum utilization of rentable space
without compromising common areas. Operational
and other costs are based on information
received from consultants keeping in view the
activities and facilities which shall be
available at the Complex. On the basis of the
above, our opinion is that this is a very viable
investment opportunity. Furthermore the project
concept represents a much-desired facility and
will be a service to the people of Sarajevo and
Bosnia and Herzegovina as a whole.
Grand Hotel Bristol Project Overview
The Grand Hotel Bristol is located in the
Municipality of Novo Sarajevo, near central part
of Sarajevo (1 kilometer away from city center),
on the right bank of Miljacka river and in the
middle of the most famous pedestrian area called
“Wilson’s walkway”. It is ideal setting for the
business people and tourists from all over the
world. The Old Town and other famous “must see”
places are within walking distance.
Grand Hotel Bristol has been constructed in 1972
and it was the most prestigious hotel facility
in Sarajevo. During aggression on Bosnia and
Herzegovina, Grand Hotel Bristol was completely
destroyed and reconstruction will start within
next two months. The four stars hotel will be
developed on an area of 2500 m2 and will include
the following:
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Basement: Garage with 20 places, night club with
142 places, Technical tract, storage space |
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Ground floor: Main entrance, reception desk with
office, café with 80 places, Aperitif bar with
20 places, “Divanhana”, traditional café with 68
places, restaurant for breakfast (buffet) –
National restaurant with 96 places,
International restaurant with 120 places,
hotel’s kitchen with tracts and cold storage,
heating and cooling installation |
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Mezzanine: Office for management and technical
tract, congress hall with 200 places (can be
divided in two parts), wardrobe, Salons (three),
Business center, Sauna, Turkish bath, fitness,
massage, room service, six double rooms, three
suits |
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Floors from 1 to twelve: |
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106 double rooms |
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72 single rooms |
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14 single rooms, (with shower in the
bathroom, other single rooms are with
normal bath) |
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Water reservoir |
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The Grand Hotel Bristol complex will include
several exclusive boutiques. The complex will
offer a perfect location and will be home to
exclusive brand names in fashion and related
products. The stores could offer a wide range of
designer products from watches, consumer goods,
designers wear, clothes and accessories,
perfumes, shoes, leather goods, audio and video
items, general domestic products as well as
facilities such as ATM, Travel Desk, etc.
The construction should start in the year 2008
and it will be operational in the year 2009.
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