SERBIA Sava Centar on sale for EUR 27.42 mln

The deadline for the bids, together with a deposit of 2.742 mln, expires at 10am on August 21st, with the public opening of the bids to take place two hours later. Once the most favourable bid is chosen, the winner will have eight days to conclude the contract. If this is not done, the contract will then be successively offered to the next most favourable bid until a contract is agreed.

One condition of the tender is that bidding parties undertake at least EUR 50 mln of renovations to the complex within five years of the receipt of the payment for the purchase. Another condition is that the congress-tourism function of the complex will remain unchanged.

The public announcement of the sale can be found here.

Sava Centar was completed in 1979. It has a total area of 100,000 sqm (with almost 70,000 sqm of useable space), including a 3,672-seater theatre, 15 conference halls, an exhibition area and a number of other facilities. The Hyatt Regency Belgrade and Crowne Plaza Belgrade hotels are also housed within the complex.