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Land in Block 63 sold for RSD 800 million

By 18. April 2017.May 19th, 2017news

The land in New Belgrade Block 63 was sold for RSD 800 million at an auction held on April 13, 2017 in the premises of the Belgrade Land Development Public Agency. Three Bids were received by the Deadline for Bid Submission defined in the Invitation to Public Bidding, and the highest Bid was offered by the Building Directorate of Serbia (Građevinska direkcija Srbije), which is going to pay the bid amount to the Belgrade City Budget. In addition to the price for the land, in the course of future construction, the Investor shall pay the Building Land Development Fee to the City Budget in the amount to be defined in the Building Permit.

Site is located in the corner of Jurija Gagarina Street and Nehruova Street, and covers an area of 8328m2. Based on the Site Information, cadastral plot No. 3347/70, Cadastral Municipality of New Belgrade, belongs to the zone of urban centres of mixed land use, implying combination of commercial land use with residential use. Total GFA amounts to 41.640m2 and allows for construction of 8 floors plus withdrawn loft.

Future buildings can be constructed as commercial or commercial/residential, provided that they mandatorily include commercial facilities in the ground floor. Construction of sole multi-storey collective garage is also allowed in the land plot. In accordance with the applicable General Regulation Plan for this area, urban planning design needed for further urbanistic development of the site is required for construction of any building in this area.

Start price was determined based on the land market price assessed by the Tax Administration of the City of Belgrade, and was assessed at RSD 61.599,60 per square meter of the land, meaning that the start price for 8.328m2 of land was RSD 513.001.468, 80. In order to participate in the Public Bidding the Bidders were supposed to deposit 10% of the start price amount or to provide an irrevocable Bank Guarantee for the deposit referred above.