The construction of Novi Sad shopping mall to begin in early 2017 – The biggest shopping mall in Serbia will take 18 months to build

It is expected that the building permit will be issued by the end of the current year, stated Nemanja Savcic, the development manager of Nepi Real Estate, through which the South African fund Nepi bought the parcel.

- The plot of land on the corner of the two boulevards, with nearly 33,000 m2 of surface, has been paid for in full. It was registered last week and according to the purchase and sale contract, Nepi will become the owner of the location in mid-August. What follows is the process of receiving the building permit, parallel to which the urban plan for the architectural solution will be prepared, which will be put on an international tender – said Savcic.

According to him, the five-floor structure, which should have around 115,000 m2 of surface, will take a year and a half to build.

- We don’t want to compare ourselves with Spens, whose surface is around 85,000 m2 and which is smaller than the structure we wish to build. It will be a place where the people of Novi Sad will have at their disposal stores, sports and entertainment contents, like movie theaters, several kinds of restaurants, sports halls – emphasized Savcic.

The parcel was bought in April by the New Belgrade company Nepi Real Estate for RSD 3.8 billion, which makes it the most expensive urban plot of land, since there are no data about investors ever having paid more. Savcic says that it’s hard to predict how much the construction of the shopping will cost, but estimates that it might be several tens of millions of euros.