Delta Real Estate Group is one of the leading regional companies in the real estate sector, with a focus on Serbia, Montenegro and Slovenia. The group’s comprehensive and diverse portfolio includes shopping centres, retail parks and hotels, as well as retail, office and residential properties in Serbia and the region
This company assesses investments with the support of international consultants and avoids engaging in projects that lack long-term sustainability, as doing so would be irresponsible towards stakeholders, owners, employees and the wider community. This is the case with all investments, including when it comes to the Sava Centre.
How are construction works progressing on your business building in New Belgrade? Will it be something completely new, more technologically advanced, unusual and different to everything that currently exists in our country?
The construction of Delta House was not stopped even when the state of emergency was declared, so we expect it to be completed as planned – by the end of the first half of next year. We truly believe that this business building is going to be something special, as it is entirely focused on the comfort, habits and health of its residents, as well as the protection of the surrounding environment.
It will offer premium office space for rent and other contents that businesspeople expect from their workplace. This is the main reason why we say that Delta House is going to be ’More than a Workplace’.
Can you tell us what’s happening with what are perhaps your most important projects – the Delta Planet developments in both Niš and Belgrade?
Delta already owns two shopping malls: the Delta Planets in Banja Luka, Bosnia-Herzegovina, and in Varna, Bulgaria. The shopping mall in Varna is currently preparing for the grand opening of an Ikea store, which will be the first Ikea store to be opened in a shopping centre in Eastern Europe.
The construction of Delta Planet in Niš is underway and is expected to be finalised in the first half of 2021. As far as Delta Planet Belgrade is concerned, our company is ready for its construction, both financially and in terms of personnel. Conditions are still to be fulfilled regarding urban planning.
You abandoned plans to buy Belgrade’s Sava Centre because you consider it an investment that wouldn’t pay off under the prescribed conditions. That’s too bad, right, given that you had a great vision for that facility, which could represent an important link for the development of the city’s congress tourism and culture?
Delta is strategically interested in purchasing the Sava Centre, and this is something that we’ve stated publically several times. We believe that this particular facility plays an important role in Belgrade’s congress tourism, considering its location and tradition. Delta is interested in it because of the fact that it is in the domain of one of our core businesses – the hotel industry. It is physically connected to our Crowne Plaza hotel and near the location where the new Hotel InterContinental is to be built.
This implies that we are planning on forming something that wouldn’t only be of benefit to Delta, but also other hotels, restaurants, taxi drivers, vendors and many others. Of course, under the condition that we see profitability and business interest in it. The decision to invest in something is made with the help of international consultants and we don’t start a project that isn’t sustainable over the long term. That would be irresponsible to our stakeholders, employees and the community that rightfully expects the kind of high-end events to which the Sava Centre is accustomed.