December 5 (SeeNews) - Austria's Erste Group said on Wednesday it plans to invest 25 million euro ($28.4 million) in the second phase of the development of the Sirius Offices business complex in Serbia's capital Belgrade.
Erste has started the second phase of the development of Sirius Offices, which will include the construction of 12,500 square metres of space over eight floors and a parking lot for 200 vehicles, Erste Group said in an e-mailed statement.
The second phase of Sirius Offices' development will be completed by the middle of 2020.
"The high demand of potential renters has led to the spread of Sirius Offices. This part of the complex will be built in accordance with the highest standards and the most up-to-date construction methods," Volfgang Hausner, general manager of Erste Group Immorent, said in the statement.
Erste Group Immorent, a subsidiary of Erste Group Bank, is specialised in real estate financing and project development in Central, Eastern and South-Eastern Europe.
Erste Group opened in July 2017 the first phase of the Sirius Offices business complex, in which it invested 40 million euro. The complex occupies a gross office area of 18,500 square metres and besides office premises, it includes a restaurant, retail space and 230 parking places.
"Erste Bank and Erste Group invested a total of 345 million euros in real estate development projects in Serbia. In addition to business premises, our portfolio includes shopping malls, retail parks, hypermarkets and logistics complexes," said Slavko Caric, CEO of Erste Bank Serbia.
Erste Group started the construction of the office building in November 2015.
($ = 0.8807 euro)
Erste Bank AD Novi Sad is among the biggest banks in SEE, for more reference take a look at Top 100 banks