February 2 (SeeNews) – Serbia's Delta Real Estate, part of Delta Holding, will invest €800 million ($865 million) over the next three years in two projects in Belgrade and one in Novi Sad. Delta Holding announced that it plans to invest in
In Belgrade, Delta Real Estate will begin construction this year on Delta Land, a 260,000 square meter residential and commercial complex on Despota Stefana Boulevard. Additionally, construction will begin on the Delta District, which will combine business space and luxury housing in the heart of New Belgrade's business hub, Delta Holding said in a statement earlier this week.
The Delta District project includes a new InterContinental hotel of the highest category and is scheduled to open in 2026 ahead of the Belgrade Expo in 2027, the statement said.
Additionally, Delta Real Estate plans to build the €85 million Delta Iron business complex in Novi Sad, Serbia's second largest city, with construction starting this year.
According to information on Delta Real Estate's website, Delta Iron will include four buildings on a 40,000 square meter site.
Last year, Delta Real Estate's director of development and asset management, Milos Grudinic, said in an interview with a local real estate magazine that Delta Land will have 138,000 square meters of apartment space, 30,000 square meters of business area and 19,000 square meters of business area. He said it is a mixed-use project that will include a commercial area of sqm. square meters of retail space.
Founded in 2004, Delta Real Estate has a portfolio of retail stores, hotels, office buildings and mixed-use properties in Serbia and the Southeastern Europe region.
($ = 0.925 euro)
