SERBIA Delta Holding bids EUR 17.5 mln for Sava Center

In the previous tender, which was held in August, no bids were submitted, prompting the City of Belgrade to reduce the EUR 27 mln asking price. Delta Holding has confirmed that it is willing to accept the latest EUR 17.5 mln price plus EUR 50 mln of obligatory investment. According to the company’s own consultants, more than EUR 60 mln will be required for the renovation of the centre.

The project would include the replacement of the glass façade, new electrical installations as well as cooling and heating systems, and the introduction of entirely new multimedia installations. The architecture of the complex and its external appearance should be preserved as well as its original function.

We plan to maintain the appearance and function during the reconstruction, yet to create a new interior for Sava Center, which will include modern digital communications, restaurants and cafés, car rental agencies and tourist guides services, as well as everything that a guest would expect to get from a modern convention centre. This would allow Belgrade to, once again, become the number one destination for business and cultural events in the region, with the possibility of gatherings for up to 5,000 people and all the benefits that such events bring to the city, its economy and residents.
Zivorad Vasic, the senior vice-president of Delta Holding

Serbian-based Delta Holding has so far invested around EUR 2.5 bln in real estate. Its portfolio includes the Crowne Plaza hotel, the Indigo Hotel in Belgrade and the Delta House office building – all in the immediate vicinity of the Sava Center – as well as the InterContinental Ljubljana.

Sava Center was completed in 1979 and 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.