June 10, 2022 - In June 2021, the revitalization of the Varteks textile industry premises was declared a strategic investment project of the Republic of Croatia called "VARTEKS district - urban regeneration".

As part of the project of great economic importance for the City of Varaždin and all its residents, through cooperation between the City of Varaždin, Varteks, and Austrian investor SES Spar European Shopping Centers, the northeastern part of the old factory will become S-PARK Varaždin, the central part of the revitalized VARTEKS district, today's press conference at the City Hall concluded, where the partners signed a contract to construct a roundabout on Zagrebačka Street. This will be the first step of the new project, and an agreement on cooperation for the strategic investment project "VARTEKS district - urban regeneration".

"The city of Varaždin welcomes the arrival of S-PARK in Varaždin as part of the project "VARTEKS district - urban regeneration" which the Government of the Republic of Croatia has declared a strategic investment project. This will not only be another shopping center in the city, but it will revitalize valuable space that has lost its original economic purpose. It is important to us residents of the city of Varaždin that the architectural solution is fully respectable and our industrial heritage and brand that is a kind of symbol of the city. It was created for years from the former Tivar to today's Varteks. We consider it necessary and support the regeneration of this valuable space because it preserves jobs and keeps production Varteks. At the same time, S-PARK means creating new jobs in the store and providing better supply and new facilities to all citizens", concluded Neven Bosilj, mayor of Varaždin.

"S-PARK Varaždin will be the first and unique retail park in Croatia to be developed in a historically important industrial site. I am very proud that we as SES have the opportunity to develop a quality, new meeting place with retail, gastronomic, and service facilities for people in Varaždin and its surroundings. In doing so, we will be guided by the important historical heritage of this place, which will be our inspiration for the design of the new S-PARK," said Christoph Andexlinger, Chief Operating Officer of SES Spar European Centers.

SES Croatia representative and project manager Boštjan Brantuša revealed that in the northeastern part of Varteks there will be a complex of commercial, gastronomic, and service facilities, and the first Interspar in Varaždin, which will significantly raise the standard of available content to citizens.

The Chairman of the Board of Varteks, Tomislav Babić, expressed his satisfaction that the City of Varaždin also recognizes the value and quality of the project and advocates to preserve buildings important in the industrialization of Varaždin, as well as expressing interest in revitalizing the central part of the complex with facilities important for citizens.

"Since the start of the restructuring in 2019, Varteks has worked on the sale of unused assets that generate additional costs as unused capital.  By activating this capital, Varteks plans to settle its debts, modernize its business and expand its retail network. Varteks does not intend to engage in real estate but in the basic business, which is fashion, while we believe that the Varteks complex should definitely get facilities adapted to modern life, with a lot of greenery and functional roads and all other facilities that will ensure a higher standard of living. We are glad that SES, a sister company of SPAR has an identical vision and that as a buyer of a significant part of the complex it will build modern, beautiful, and functional contents that will fit perfectly into the characteristic architecture of the city of Varaždin, nurturing its historical heritage", concluded Babić.

The Zagrebačka street roundabout project financed by the Austrian investor will, upon completion, contribute to better traffic regulation for greater safety of citizens and its smooth running with new facilities in the city.

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