Hypo Alpe-Adria-Bank to have hotel built on location of "Tri lista duvana" - €25m, as well as housing project near Kalemegdan - €15m

Hypo Alpe-Adria-Consultants announced construction, in the name of the buyer from Austria, of the 4-star hotel worth €25m. The hotel will be built on the location of former café Tri lista duvana in the center of Belgrade. The construction of €15m worth of residential housing project nearby Kalemegdan is also in the pipeline. Its opening should take place in 2008.

Hypo Alpe-Adria-Bank is the major renter of the renovated business building Ušće. In September, when relocation should take place, Hypo Alpe-Adria-system (Hypo Alpe-Adria-Bank, Hypo Alpe-Adria-Leasing, Hypo Alpe-Adria-Consultants and Hypo Alpe-Adria-Securities), will take half of the entire available space of 25,000 square meters. The branch office of the bank will be settled on the ground floor of Ušće palace, whereas the headquarters of the bank will occupy the first seven floors. Another three floors will be taken by leasing, consulting and broker companies.