New Belgrade gets new city core in Block 65 - PSP-Farman Holding starts construction of complex worth 170 million euros in September

PSP-Farman Holding will start construction of one of the largest multifunctional residential-business complexes in Belgrade in September 2010. Apartments, a business tower, a shopping center with a square in the center of the complex and an underground two-floor garage with 1,300 parking places, at total surface of 145,437 square meters, will be built at the corner of Omladinskih Brigada Street and the route of the inner ring road in New Belgrade's Block 65.

PSP-Farman Holding, the company specialized in planning, construction and equipping, operates in Russia, Belarus, Ukraine, Belgium, Italy and Serbia, and it plans to invest about EUR 170m in this project.

According to Branislav Grujić, a co-chairman of PSP-Farman Holding, it will be the largest investment in Serbia this year and also a signal for foreign investors to join the realization of this project, as well as to start their own building projects in Serbia. His colleague Arkadije Blam points out that the aim of the investor is that this residential-business complex provides maximum comfort to its future tenants. He also says that the company has already successfully implemented similar projects in Moscow, Kiev and Minsk.

Nebojša Crnobrnja, CEO of PSP-Farman Beograd, said that the complex was conceived as a place to reside, do business and trade. He expects the construction to be finished in 2013. One square meter of residential space will cost about 2,000 euros, while office space will cost about 3,000 euros per square meter, exclusive of VAT. According to Grujića, 90% of these apartments will be available to middle-class population.

Other investors will be certain foreign investment funds and banks, while the drawing of plans has been entrusted to renowned architectural company Fletcher Preston from London and PSP-Farman Holding's architects.

Grujić said at the press conference that the planning had started two years earlier and that collecting of necessary licenses had taken about 14 months, which was a global average time for that type of facility.

The new business tower will have 39 floors and it will be 145 meters high.

The new center of New Belgrade will be built of environment-friendly materials, with the application of renewable and alternative energy sources, and it will also have a state-of-the-arts security system.