Hypo Alpe-Adria Group invests 700 million EUR in serbia, builds hotel near Federal Parliament to Belgrade, business building in Novi Sad,and moves in 15 floors of Ušće palace

"Hypo Alpe Adria Group" invests about 700 million EUR in Serbia. Besides the investment in credits intended for citizens and economy, this banking group also invests in construction of office space, hotels, trade centers and apartments. With balance of 384 million EUR, "Hypo Alpe Adria banka" is the fifth best bank in Serbia.

In July 2005, the works on “Tri lista duvana” will start in Belgrade, where, together with foreign company, Hypo Alpe Adria Group will have small hotel with 140 rooms built on 10,500 square meters. The value of the works is 24.8 million EUR. Hypo Group will have apartment building with 34 apartments built in the Tadeuša Košćuškog Street. Investments in that building will amount to 14.5 million EUR. Also, business building on surface of 5,500 square meters and trade center on 13,500 square meters will be built in Novi Sad.

This group plans to rent the first 10, and later another 5, floors in Belgrade-based business center “Ušće” and settle all employees of "Hypo Alpe Adria" bank on that space. During the first three months of 2005," Hypo Alpe Adria" bank approved 15.8 million EUR worth of credits to economy.

Opening of branches in Montenegro is in the pipeline.