The Marera Properties company announced on Sept. 9 that it was the new owner of Beogradjanka, officially the Belgrade Palace.
One of the largest firms in the commercial real estate market in Serbia, the Marera Properties was the most successful bidder in a public contest called by the City of Belgrade, and is finalizing the sales agreement with the city authorities.
The company didn't unveil the price of Beogradjanka, but media reports in the capital say that some 20,000 square meters were sold at the initial price of EUR16.5 million. The sale includes the offices in the building, but not a retail sale facility next to the tower.
Beogradjanka hasn't been remodeled since it was built in 1974. The Marera Properties explained that it had accepted to make additional investments worth EUR8 million, and that the works would be completed within three years.