Prishtina Mall (IFC-49946)

Countries
  • Kosovo
Geographic location where the impacts of the investment may be experienced.
Specific Location
Pristina
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Prishtina Mall Sh.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 80.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 15, 2025

Disclosed by Bank Jan 21, 2025

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, Prishtina Mall is a super-regional mall with a GLA of ~115,000 m² located on the outskirts of Pristina, Kosovo. Construction began in 2019 (on a greenfield site); it opened in March 2023 and is currently occupied by over 200 retail units, including anchor tenants such as Intersport, H&M, Zara/Inditex, LC Waikiki, New Yorker and entertainment venues, such as HyperActive (south-Eastern Europe’s largest indoor amusement park). The Mall construction was financed mainly through equity investment from shareholders.

IFC’s financing will help settle dues to construction contractors, finance expenditures for fit-out of new tenants, fund installation of solar power and investments to improve operational efficiency, in addition to refinancing existing capital providers.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B Project according to IFC’s Policy on Environmental and Social Sustainability (2012) as the project is expected to have limited number of specific environmental and social impacts which are manageable with implementation of good international industry practices (GIIP), standards, procedures, guidelines and design criteria.

Key E&S risk and issues associated with this project include: i. effectiveness of the Company's E&S management systems; ii. labor and working conditions; iii. gender-based violence and harassment (GBVH) and worker’s grievance mechanism; iv. hazardous material management v. effective implementation of the EPRP and L&FS measures; vi. supply chain management; and vii. effective stakeholder engagement.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

IFC will provide a senior debt package of up to €80 million with a tenor of up to 10 years. The debt package will comprise an A Loan of up to €45 million from IFC’s own account, and €35 million from B and/or Parallel loans.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Prishtina Mall Sh.A. is a super-regional mall with a GLA of ~115,000 m² located on the outskirts of Pristina, Kosovo, and is owned by 14 shareholders with business entities across various industries. All shareholders and ultimate beneficial owners (UBO) are local businessmen in Kosovo.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Prishtina Mall Sh.A. Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Prishtina Mall Sh.A.
Nderesa Mazrekaj
Chief Financial Officer
+383 44 560 958
nmazrekaj@prishtinamall.com
Highway Prishtina – Ferizaj, 10th km.
https://prishtinamall.com/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works