Less than EUR 500 per square meter of social housing flats – BK Group planning the construction in Belgrade, Nis, Kragujevac and Novi Sad

Representatives of BK Group announced on Thursday, July 28, the beginning of the construction of social housing flats in Serbia, the price of which will be lower then the market price – below EUR 500 per square meter – and of the project Tesla Grad, to be built in Belgrade.

Bojan Karic, the vice president for international relations of the company Dana Holdings, whose parent company is BK Group, said that the company's plan was for the construction of social housing to start in late 2017 or early 2018, depending on the negotiations about the locations.

The prices, as he added, will be lower then the market prices, below EUR 500 per square meter, and the plan is to build the flats in Nis, Kragujevac and Novi Sad, in addition to Belgrade.

– By building the social housing flats, we will provide the opportunity for the employment of Serbian workforce and the activation of the construction industry – Karic said.

Marko Cadez, the president of the Chamber of Commerce of Serbia (CCIS), said that such projects gave new opportunities for employing Serbian builders and the accompanying industry.

Cadez reminded that the construction sector had been the fastest growing sector in 2015 and that the trend continued in 2016.