Hotel "Astoria" sold for 230m RSD

Belgrade-based hotel "Astoria" has been sold for 230m RSD to the consortium led by company "Progres" from Belgrade.

The starting price was 113.1m RSD, and three potential buyers participated in the auction.
Hotel "Astoria" is situated in the vicinity of the Central Railway Station in Belgrade, in Milovana Milovanovića Street, and it occupies about 2,602 square meters.

The estimated value of the hotel is 471.1m RSD, that is, about 5.3m EUR. The minimum amount of mandatory investments is determined by the public invitation – 61.6m RSD.

That hotel has 42 employees who have gone on strike to support former owners, the Ninković family, in their intention to keep the property in their possession.

The Privatization Agency announced earlier that it must act according to the Law on Privatization because the Law on Restitution, which would define the status of the nationalized property, had not been passed yet, which meant that all public-owned property must be privatized.