The City of Belgrade announced the sale of the Congressional Sava Center at the starting price of 27 million euros and mandatory investment of an additional 50 million euros.
Being a socially responsible company, Delta cares about Belgrade and Serbia getting a modern and functional congressional center. In addition to this, being the company where hospitality is one of the core businesses, it would be in our best interest to build and manage a center of this kind.
The Sava Center would play an important role in the development of congress tourism and culture, in addition to being a facility that would make Belgrade and Serbia very proud. However, Delta tends to invest very carefully, considering the interests of all the stakeholders – our partners, clients, employees, banks and community. If we feel that we cannot protect those interests, then we do not invest.
After the careful analysis made by external experts, it was concluded that the investment of nearly 80 million Euros would not be profitable.
Unfortunately, that is the reason that we decided not to bid for the purchase of the Congressional Center under these conditions, announced from Delta Holding.