Delta and Sava Centar – Team of Foreign Consultants Analyzing Profitability of Investment, Larger Investments Needed

The City of Belgrade has scheduled a third sale of Sava Centar through public bidding, and the price has now been reduced to EUR 17.54 million. Interested purchasers may submit their bids until Friday, November 6. Delta Holding has on several occasions announced that they are interested in the purchase, but they didn't take part in the previous two tenders, because of, as they said, the non-profitability of the investment. At the moment, they say, they are analyzing the situation.

– Delta has had a serious approach to this since the very beginning. We are intensively analyzing all the changes in the market with foreign consultants and we will reach the decision on whether to take part in the further tender in due time – said Zivorad Vasic, Senior Vice President at Delta Holding.

Delta's plans for Sava Centar

Under the terms of the tender, the future owner obliges to an investment of at least EUR 50 million in adaptation and reconstruction. However, Delta says that, according to their estimates, bigger investments are needed.

– The initial estimates from our consultants, who have a lot of experience with similar facilities, say that bigger investments are needed for Sava Centar to truly become a modern congress center. The investment will be around EUR 60 million – Vasic says.

He ads that it entails a full renovation of Sava Centar, including: a change of the facade, while keeping the external appearance, a change of all the installations, including the strong and the weak electricity, a change of furniture and a change of the entire interior.

– New multimedia features will be realized with special care, because that is the element that is now completely different than it was at the time Sava Centar was designed. It will be a facility that will look exactly the same on the outside, but be nearly unrecognizable on the inside – Vasic points out.

I. M.

Grad Beograd

Delta Holding d.o.o. Beograd

Živorad Vasić

Sava centar

sale of Sava centar

congress center

tender for the sale of Sava centar

investment in Sava centar

renovation of Sava centar

change of the facade

change of installations

electricity

change of furniture

change of the interior