"Delta" asks for postponement of payment of installment for Stožice – deadline for payment expired on April 15th

The deadline for "Delta" to pay the second installment of 19m EUR for construction of sports-trade center Stožice in Ljubljana expired yesterday (April 15th, 2009), and "Delta" still sticks to its opinion that the project for construction of sport-trade center should be adapted to the circumstances in the global market.

The day before yesterday, the Mayor of Ljubljana, Zoran Janković, and "Grep", the partner of "Delta" in that business, gave the Serbian company time until midnight on April 15th to pay the money that was supposed to be paid at the end of the last year. Janković announced that, if "Delta" failed to meet the deadline, the new investor for construction of Stožice would be introduced in one week.

Company "Delta holding" repeated yesterday that it had not given up the project for construction of the shopping mall in Sports Park Stožice in Ljubljana, and that the realization of that project should be “postponed” until the market circumstances were stabilized.

- The proposals have been sent to our partner, company "Grep". New circumstances in the global economy have completely changed business terms in real estate industry. According to the research conducted by Austrian consulting company "RegioPlan", construction of majority of shopping malls in east and central Europe has been postponed for 2 to 4 years, while 10% of all projects have been cancelled – said the people from "Delta".