Ten-story building in place of Dnevnik's printing facility in Novi Sad soon

Dnevnik AD in bankruptcy will soon put its printing facility in Oslobodjenja Blvd up on sale, and the future purchaser will be able to build a ten-story high rise there, since Novi Sad has initiated the procedure of modifying the urban plan, 021.rs learns.

Dnevnik, which wasn't sold in last year's privatization process and whose shares have been distributed among the current and the former employees, has been in bankruptcy for months, and the reorganization plan envisions the settling of all debts through the sale.

To clarify, the estimated value of the printing facility is over RSD 500 million, whereas the receivables with interest amounted to RSD 326 million at the end of 2015.

It is not certain, however, when the sale will be realized, as the right of ownership of the land where the facility is located also needs to be regulated, as the owner is the Autonomous Province of Vojvodina. As the documentation states, Dnevnik AD has already started the procedure of acquiring ownership of the land through purchase at the Novi Sad City Administration for Urban Planning and Housing.

The fact that the City Administration of Novi Sad, Dnevnik's largest creditor and thus the party most interested in the repayment of debts, has initiated the change of the urban plan of the Dnevnik complex at PUE Urbanizam which envisions the construction of a ten-story high rise in place of the printing facility speaks in favor of the positive outcome of Dnevnik's endeavor.

The plan, which was put on public review over a week ago, which will last until September 23, allows for the construction of a high rise of up to ten stories in place of the printing facility, which makes the location more expensive and enables the future buyer to get a great location in Oslobodjenja Blvd for the construction of a residential and office tower for a mere EUR 3 to 4 million.

It's interesting to note that the draft of the urban plan opens the possibility of demolishing Dnevnik's ten-story building and constructing a residential and office high rise of the same height in its place, but there haven't been any indications so far that Dnevnik AD will sell the building, which has been one of Novi Sad's landmarks since 1964.