"Delta" returned "Intercontinental" to Belgrade – 150m EUR to be invested in luxurious 13-storey hotel and 35-floor building

(Future pride of Belgrade)

Belgrade-based "Delta M Group" and "Intercontinental" hotel group have signed the contract on management, which implies joint management of the hotel that will be built in Block 20 in Novi Beograd.

Company "Delta Real Estate" will start construction of luxurious 13-storey hotel, 35-floor business building and a shopping mall in spring 2008, and the investment will amount to 150m EUR. Intercontinental will give brand and management to that hotel, which will have 325 rooms.

- The plan is that that business and hotel center (hotel on surface of 30,000 square meters) be built on the lot of 1.2 ha and that it encompasses 110,000 square meters of business, hotel and retail space, which will be connected to a three-level underground garage – said the Manager of Delta Real Estate, Dejan Racić, at the press conference.

The entire complex, which will be built in the vicinity of the business building of Delta holding, should be completed in the first half of year 2010. The preliminary solution for the complex has been designed by Canadian-Israeli architectural bureau.

The Vice President for the development affairs of company "Intercontinental" for Europe, Middle East and Africa, James Kaplan said that he was satisfied with the fact that the new, luxurious "Intercontinental" hotel would exist in Belgrade.

He added that the removal of symbols of "Intercontinental" from hotel "Beograd", which is in the vicinity of the future hotel, was in progress.

(location of future complex)