No Bid from Delta for Purchase of Sava Centar at Repeated Tender

Delta Holding has announced that it did not take part in the repeated tender for the purchase of Sava Centar, which expired on September 25, because it believes that the offered price and the mandatory investment are not cost-effective.

– The offered price of EUR 21.9 million and an investment of EUR 60 million, which our consultants consider necessary, make this investment not cost-effective in a reasonable term. Delta Holding confirmed earlier that it was interested in investing in Sava Centar, but only under such conditions that enable the investment to be sustainable and acceptable for the banks which follow such investments, for the employees and for the community – the statement reads.

As they point out, the company is still ready to make an investment in Sava Centar that would turn it into a modern and functional congress center, “which would bring large business gatherings and cultural events, with more than 5,000 visitors, to Belgrade”.

– Such business operations of Sava Centar would benefit numerous companies and service providers in Belgrade and bring increased budget revenues to the city and the state through a growth of the VAT revenues – Delta says.

Let us remind that the city first started looking for a partner for Sava Centar in 2016, when a public invitation for the founding of a joint business entity opened. At the time, only Delta Holding responded, but no partnership agreement was reached.

A new public invitation opened in late 2017, when the potential partner was expected to renovate the congress and general infrastructure of the center.

In mid-2018, the City of Belgrade and Delta initiated direct negotiations, which proved to be unsuccessful, after which it was announced that a concessionaire was to be sought for Sava Centar.

At the previous tender, which opened in August, the initial price was EUR 27.4 million, and there was the condition of a mandatory investment of at least EUR 50 million, but no bids were sent.

Delta Holding d.o.o. Beograd

Grad Beograd

Delta Holding

City of Belgrade

Sava Centar

sale of Sava Centar

congress center