Serbia’s Delta Holding to Build 200 Million Euro Shopping Mall

Delta Real Estate, a member of Belgrade-based Delta Holding, plans to build the biggest shopping mall in the country.

Construction of the 200,000-square-meter (2.15 million square feet) Delta Planet mall in the capital will begin in the spring of 2013 and will cost 200 million euros ($254 million), said general manager Vojislav Glavinic. It will be completed by the end of 2014, with more than 250 retail units, a parking lot, spas and cinemas, he said.

About 70 percent of the financing will be arranged with domestic and foreign banks, while the rest will come from Delta’s own assets, said Jelena Krstovic, the vice president of the privately-held holding company.

Delta, which last year sold the Delta Maxi supermarket chain to Delhaize Group SA (DELB) for 932.5 million euros, also has mid-term plans to build another mall in Belgrade and one in Banja Luka in neighboring Bosnia-Herzegovina, Krstovic said.

Delta Planet will be the holding’s third such venture after developing the 85,000-square-meter Delta City in Belgrade and a similar one in Podgorica, the capital of Montenegro.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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