"Marriott" has finally obtained a construction permit – Construction of a hotel in the Belgrade centre starts in January 2014

Construction of the Marriott hotel in the very centre of the capital will start in January 2014, eKapija learned from the company Farley Investors.

Construction of this four-star building on Trg Republike was announced for 1 April this year, but was delayed because the hotel had not received the building permit.

“We have finally obtained the permit, so we can start building the hotel. Construction can begin on condition that Eurobanka grants a project finance loan. They will take a decision on this on 18 December. This is a repeat procedure since the loan was already approved, but we could not start using it in the agreed time frame because of the delayed construction permit”, eKapija was told by Branko Trkulja, general manager of Farley Investors - a company in the PSP Farman group, who is the manager of this project.

Trkulja says that the work, which is in fact a reconstruction of the former Jugodrvo building, will start in January after the holidays, with completion of the works expected by early 2015.

The investment value was earlier estimated at about EUR 25 million. The hotel will have 114 rooms, a restaurant, café bar, club, conference room and a gym for hotel guests.

The building will be managed by the Marriott company according to the standards of their brand Courtyard by Marriott, under a long term hotel management contract between PFB Properties and the Mariott corporation.

Translation provided by: www.halifax-translation.com