Serbia's Delta Holding to build EUR 200mn shopping mall in Belgrade next year.

By bne IntelliNews May 17, 2012
Delta Real Estate, part of Serbia's privately-held Delta Holding, announced on Wednesday, May 16, it will start building a EUR 200mn shopping centre in Belgrade in the spring of 2013, news agency Beta reported. The new centre, Delta Planet, will be the biggest one in Serbia, covering an area of 200,000 square metres, company representatives told a news conference. The project should be completed in 18 months until the autumn of 2014. Some 6,000 workers from local companies will be engaged in the construction and once the centre opens doors for clients further 5,000 jobs will be created. The building will include two levels of shops, restaurants, coffee shops, cinemas and recreation centre. Serbia's largest hypermarket will be located at the centre's third level. Bloomberg quoted the holding company's vice president Jelena Krstovic as telling the same news conference that 70% of the project financing will come from loan arrangements with domestic and foreign banks. The remainder will be secured from Delta's own funds. Krstovic also said that Delta plans to build later on another mall in Belgrade and one in Bosnia's Banja Luka. In 2007, Delta opened the first shopping mall in Serbia - the 85,000 sq m Delta City. It owns another Delta City shopping mall in the capital of neighbouring Montenegro, Podgorica. Delta Real Estate is focused on Serbia, Bosnia and Montenegro as the estimated value of its project totals EUR 669mn, information from its website showed.

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