Construction of first cheap apartments starts in September 2010

- Construction of the first cheap apartments in Belgrade will start in September 2010 at the latest - the State Secretary of the Ministry of Spatial Planning, Vladimir Jovanović, announced on Friday (March 5, 2010).

He said to the press that the elaboration of the preliminary project for construction in the location of former barracks "4. jul" in Voždovac was underway.

As he explained, the Army will get 21% of apartments, while the rest will be commercial apartments.

- After that, we will move on to the other cities such as Niš, Kragujevac, Novi Sad and other major towns that have big potentials - said Jovanović.

He said that the construction of total of about 500,000 square meters of apartments was in the pipeline and that it would be the opportunity for employment of domestic building industry.

The Government of Serbia adopted in January the Regulations governing financing of construction of cheap apartments, which stipulate that the maximum price of square meter depends on the city and the location and that it ranges between 695 and 1,595 EUR, while total of about 10,000 apartments should be built.