Belgraid Sava Center has a new owner after the third attempt

by   CIJ News iDesk III
2020-11-10   12:18

Yesterday, Delta Holding concluded the purchase of the congress center in Belgrade at a starting price of 17.54 million euros. At the public tender, Delta Holding was the only company that competed for the purchase of the Sava Center. The congress center of 29,374 square meters was on sale three times, but without offers. For the first time, the price was 27.4 million euros, then 21.9 million euros, and third attempt a price offer of 17.5 million euros.

Delta Holding under the terms of the tender is obliges to invest at least 50 million euros in adjustment and reconstruction. However, as previously announced from Delta Holding, according to their estimates, larger investments will be needed in the renovation of this building, namely 60 million euros. Zorana Burilić, General Manager at Delta Real Estate, stated that it is logical that this company had an interest in buying the congress center, considering that it is functionally connected with the Crowne Plaza hotel, which they own. When asked about the estimated value of the center, she pointed out that the price is high, having in mind the necessary investments. Delta is planning a complete renovation of the Sava Center. The investment envisages the replacement of the glass facade, the production of new electrical installations, as well as cooling and heating plants, and the introduction of completely new multimedia installations. She added that the investment is expected to be realized in the next five years.