Serbia's Delta Real Estate to invest 800 mln euro in next three years

In Belgrade, Delta Real Estate will begin this year the construction of the 260,000 square metres Delta Land residential and commercial complex in Despota Stefana boulevard. In addition, it will start the construction of Delta District which will combine business space and luxury living in the heart of the business centre of New Belgrade, Delta Holding said in a statement earlier this week.

The Delta District project will include a new InterContinental hotel of the highest category, which is set to open in 2026, ahead of Belgrade Expo 2027, according to the statement.

In addition, Delta Real Estate has in the pipeline the 85 million euro Delta Iron business complex whose construction will begin this year in Serbia's second largest city of Novi Sad.

According to information on Delta Real Estate's website, Delta Iron will include four buildings on an area of 40,000 square metres.

Last year, Delta Real Estate's development and asset management director, Milos Grdinic, told local Real Estate Magazine in an interview that Delta Land is a mixed-used project that will include 138,000 sq m of apartment space, 30,000 sq m of business area and 19,000 sq m of retail space.

Established in 2004, Delta Real Estate operates in Serbia and the Southeast Europe region with a portfolio of retail, hotel, office buildings and mixed-use properties.

($ = 0.925 euro)