December 20 (SeeNews) - Greek investment fund Alpe Adria Hotels plans to complete a major construction project in Belgrade worth 130-150 million euro ($171-$197 million) in 2013, Serbian media reported.
Under the investment plan, Alpe Adria Hotels will turn the Jugoslavija hotel into a five-star hotel and will build an adjacent 33-storey business and residential tower and a retail centre, Politika (www.politika.rs) daily reported on Saturday.
The Greek investor is awaiting construction permits from the city of Belgrade to launch the project, Politika quoted one of the project's architects, Goran Vojvodic, as saying.
Alpe Adria Hotels bought the Jugoslavija hotel in 2006 for 31.3 million euro. The hotel, located near the Danube river, was built in 1969 featuring 476 rooms, including seven suites. It was partially destroyed by the NATO bombings in 1999.
($=0.7598 euro)