We are going to have a continental Zrće

Your appointment has arrived at a time when there is speculation that Westgate will be closed do to difficulties. What has changed the largest center in the EU in the last year, since it’s been lead by architect Otto Barić?

Focus Invest, which is currently the sole owner of the center and the zone around the center has made our F.O./Group the new Management of the center, and Mr. Bariž, as director of companies, represents the investors. In the past year, we have been able to optimize costs that have grown uncontrollably in recent years. With the synergy of our own team dealing with the management of the center, marketing, billing and renters of the owners, we have ensured maximum quality, speed responses as well as multisectoral thinking. We have to emphasise that we achieved internal positive EBIT, and all new tenants at the center opened with their own investment, not high donations from the center, showing confidence in a change of direction.

How much did you spend in the last year?

Revenues are slowly returning to their original amount, and with the intensification of visits as well as the entry of new tenants with 85% of rentable space after a year, which is almost 80,000 square meters, we will enter a phase of extremely stable business. It is clear that such investments cannot be measured through the balance sheets because the depreciation of the base value is very high. We can say that today’s owners at Focus Invest are satisfied and that we have lived up to expectations. I hope that Croatia will reduce VAT, but also lower fees, such as communal ones. This will make it easier for businesses, both shopping malls and other branches of the economy, not just tourism. For example we have a far greater burden of utility costs than tourism with restrictions at 1.5% of revenue.

What are your future plans for Westgate?

We are working intensively on developing entertaining content for everyone in the midst, negotiating the placement of a one megadisco club space and the effect of Continental ‘Zrće’ in the following years. The construction of the first hotel begins next year in the area around the center, and we are in negotiations for two more. By the end of the year, a new highway entrance will be built, and a lot of work had to be done to bring new investors to the zone, especially in the trade and R&D segments. We are intensively negotiating two potential investments. The zone itself has the largest private area with its own built infrastructure and as such is an ideal place for the creative and film industry, sports facilities and multifunctional hall such as Graz along Lake Schwarzl.We aim to partner in its with the city to build a great hall for congress and sports, even megaconcerts, which is something that northern Croatia, especially Zagreb and its surroundings, lack.

Read more about it on vecernji.hr