KRAGUJEVAC (Serbia), December 2 (SeeNews) – The Serbian town of Kragujevac said it has signed a lease on two municipal land plots with international investment fund Global Finance for the development of mixed-use residential and business centres.
The first scheme will have a built-up area of 50,000 square metres, twice as large as that of the second one, the municipal government of Kragujevac, in central Serbia, said in a statement posted on its website on Tuesday.
No information was immediately available on the value or timeframe of the investment project.
“We recognised Kragujevac last year as a very dynamic city which experienced significant changes in terms of development and production,” the Global Finance CEO for Serbia, Dusan Kovacevic, said in the statement.
The government in Belgrade and Italy’s Fiat formed a joint venture last year, Fiat Automobili Srbija, cranking up production volumes at the Zastava car factory in Kragujevac.
Global Finance’s operations consist of private equity fund management, real estate development and advisory services covering southeast Europe.