"Delta Real Estate" to invest 685m EUR in development of trade and business facilities in Belgrade

(Delta tower)

- "Delta Real Estate" will invest 685m in development of several trade and business facilities in Belgrade prior to year 2012 - said Dejan Racić, the CEO of that company.

- We will start construction of shopping mall "Delta planet" on Autokomanda next year, and that facility will be twice bigger than "Delta City". The whole project will cost about 200m EUR and it will be finished in 2011 - said Racić.

At the same time, as he explained, the complex worth 150m EUR will be built in New Belgrade's Block 20 and it will consist of hotel "Contintental" with 320 rooms and business tower "Delta tower".

Racić said that retail parks would also be built and that they would include trade centers, "do-it-yourself" retail facilities, etc. He also said that the first of total of three such facilities in Belgrade would be opened in 2009, while the construction of another two in Novi Sad and Kragujevac was in the pipeline.

The CEO of "Delta Real Estate" said that the consequence of the global financial crisis could be late realization of projects, but he pointed out that the company would not give up construction.