Low interest of investors in subsidies for construction and reconstruction of hotels on the occasion of EXPO 2027 – Total planned value of investment EUR 231 million

Several projects have applied for the allocation of the subsidies for the construction and reconstruction of hotels in Belgrade on the occasion of the exhibition EXPO 2027, whose total planned value of investment is EUR 231 million, the eKapija portal has learned from the Development Agency of Serbia. The investors have less than three months to apply, because the application deadline expires on December 31.

As they say at DAS, according to the Decree on determining the criteria for the allocation of the incentives for the purpose of attracting direct investments in the sector of hotel accommodation services, so far, several potential projects have applied, entailing direct investments for the purpose of the realization of the international specialized exhibition EXPO BELGRADE 2027.

– Of those, more than 70% pertain to investments in the construction of accommodation hospitality facilities (of the hotel type), and the planned value of the investments is around EUR 200 million, whereas the others pertain to the reconstruction of accommodation hospitality facilities (of the hotel type), and the planned value of the investments is around EUR 31 million. Of those, around a half are of the 4-star category, whereas for the others, due to the documentation being enhanced, it is not yet specified whether it will be 4 or 5 stars – DAS explains for eKapija and adds that the incentives will be allocated only to those projects that meet the criteria proscribed by the decree.

First subsidy already allocated

Although DAS does not cite the exact number of the interested investors or their names, in early October, the media reported that the Ministry of Economy had allocated the first subsidy per the adopted decree in order to increase the accommodation capacities necessary for the organization of the EXPO 2027 event.

A sum of EUR 5.9 million, which is 20% of the total costs of investments in the construction, was allocated to Airport City West Gate doo Beograd, with the seat in New Belgrade, for the construction and equipping of AC Hotel by Marriott Airport City Belgrade.

Let us remind that the president of Serbia, Aleksandar Vucic, pointed out in July last year that, because of EXPO 2027, 120-130 hotels would have to be built in Belgrade, as 2.6 million guests were expected.

20 hotels in six years in spas – Investments worth EUR 320 million

At DAS, they remind that support to projects through the decree has been realized since 2018 at spas and climate spots.

– So far, around 20 projects pertaining to direct investments in spa and climate spots have applied, with a total planned value of investment of slightly over EUR 320 million – they say at DAS.

M. D.

Razvojna agencija Srbije

Airport city west gate doo Beograd

Development Agency of Serbia

Airport City West Gate doo Beograd

subsidy for construction and reconstruction of hotels

EXPO 2027

hotels Belgrade

hotels

spas

hotels for EXPO