Property Directorate and Pension and Disability Insurance fund of the Republic of Serbia have put the spa complex Zubor with Kursumlijska Spa up for tendering. This marked the beginning of privatization of the bankrupted Serbian spas, which was long in the making.
The Government of Serbia and the PDIF Board of the Directors before it have decoded to sell the complex but not the geothermal water spring within it. The future buyer will have to find a way to regulate the use of the spring in accordance with legal requirements regulated by the Law on mining and geological exploration.
The Zubor hotel building with the gross area of 16,000 m2, the pool, Prepolac restaurant, Milica Manor and the 14 buildings within the complex are up for sale, also including three more buildings and the total ground area of 95,902 m2.
The staring sale price for the entire complex is EUR 2.6 million and the bidding offers can be sent until May 25.
A few months ago Kursumljiska Spa, which has been inoperative since 2006, has been declared for sale and the potential buyer was revealed - Planinka AD which owns and successfully operates Prolom Spa and Lukovska Spa.
At the beginning of 2015 spa sale was temporarily postponed because some of them were the object of ownership dispute between Serbian government and PDI Fund. By the end of 2016 Serbian government had formed a task force for solving the dispute and resolving the issue involved all of the ministries, PDI Fund representatives and legal experts.
The privatization of other health resorts privatization is supposed to be modeled on Kursumljijska Spa example so that the new ownership would bring a new shine to Serbian tourism.