Belgrade's twins open for tenants - Savograd business complex worth 60 million euros opened in Block 20

Austrian company CA Immo opened last night (June 24, 2010) 60 million euros worth of Sava Business Center business building in New Belgrade. This modern complex, situated between Hyatt Hotel and Delta Holding business building, comprises two buildings that are mutually connected on lower floors.

The effective lease area amounts to about 18,500 square meters, and the facility includes 400 parking places and an underground garage. Thanks to its high technical standards and top location, the investor expects the new facility to raise the level of real estate market when it comes to office space in Belgrade. The new building has already become home to the headquarters of Pireaus Bank, Credit Agricole Bank and company Ericsson.

- We are acting in accordance with our strategy to invest in the developing markets and that is why we made the decision to come to Serbia already in 2007. Here we see a huge potential and we feel it is important to give an active contribution to further development of the city of Belgrade and the region – Wolfhard Fromwald, a member of the Managing Board of CA Immo International, said at the last night's opening ceremony.

Serbian Minister of Environment and Spatial Planning Oliver Dulić said on that occasion that Sava Business Center had been built in the most difficult time for the construction industry in Serbia and all around the world.

He pointed out that the complex had been built by 1,500 people from Serbia, that it had been made of domestic materials, as well as that the contractors had been domestic companies.

(Oliver Dulić)

Dulić said that the state would try to alleviate the crisis in the construction industry by making certain interventions in that industrial branch in 2010.

Sava Business Center is an example of a modern architecture that is completely integrated into the environment. Both towers have total of 35,241.33 square meters, including all surfaces above and under the surface. Total net surface per tower amounts to about 10,000 square meters, that is, 930 square meters per floor in each tower. Every floor is 3.6 meters high, while the distance between double floors and low ceilings is 3.24 meters.

In addition to ground floor and mezzanine floor, each tower has additional 8 levels of office space above and two levels of garages under the ground.

Austrian real estate fund CA Immo A.G. exists for more than 20 years and it is ranked on the Viennese Stock Exchange. The company successfully invests in real estates in Germany, Austria, Central and East Europe. It is present in Serbia since 2007 and it has, so far, implemented two large projects: Sava Business Center (SBC) as a greenfield investment and the Belgrade Office Park I and II project.