AFI Europe to invest 200 mln euro in residential, shopping complex in Belgrade - local govt

The complex, named Skyline Belgrade, will have a floor area of 68,000 sq m and its construction will give a boost to the local industry, Mali said, as quoted by Belgrade city government in a statement on Wednesday.

The construction of Skyline Belgrade, including a residential complex of 34,000 sq m, a shopping mall of 30,000 sq m and a retail area of 4,000 sq m, will begin in August or September and will last for four or five years, public broadcaster Radio Televizija Srbije (RTS) reported.

The project involves the construction of three towers, two of them residential, and an underground parking lot for 900 cars, architect Ali Mur told RTS.

Skyline Belgrade will be located on Knjaz Milos boulevard in downtown Belgrade, at a land plot that was purchased by AFI Europe for 12 million euro last year, RTS said.

In 2008, the land plot was acquired by Plaza Centers, a subsidiary of another Israeli company, Elbit Imaging, for 28 million euro. Plaza Centers was planning to open a hotel and a shopping mall in December 2010, but did not receive a building permit.

AFI Europe has also invested in the construction of the Airport City Belgrade multi-use commercial facility and Central Garden residential complex in Belgrade.

Elsewhere in Southeastern Europe (SEE), AFI Europe also has presence in Romania and Bulgaria.

($ = 0.9315 euro)