Former owners of Marbo invest in homes - Andrej Milovanovic, Bojan Jovanovic build residential and business center in Belville's neighborhood

The former owners of the company Marbo product Andrej Milovanovic and Bojan Jovanovic decided to invest the money from the sale of the company for the production of salty snacks in the construction of residential and business complex in building block 67a in New Belgrade, Politika daily reports.

On the site, in the area of 3.6 hectares, between Jurija Gagarina and Omladinskih Brigada Street, a hotel, shopping center, apartments and office space will be built.

Investor company Deka Engineering, which are managed by the two businessmen, hired by the company Mejs to call the preliminary architectural and urban competition on their behalf. Bidding ended two days ago.

- Six architects participated in the contest and in a month it should be known whose work will be the base for concept and detailed design. The beginning of the construction is expected in the spring next year - it was said in the Mejs company, which is otherwise engaged in project management.

Since the complex will have more than 100,000 square meters, while on the plot in Jurija Gagarina Street there will be business and commercial facilities such as hotels and shops, according to well informed sources from daily Politika.

- On the indented part of the area, according to urban parameters, the construction of flats is planned. It is allowed to build up to 12 storeys on the plot, when it comes to office buildings. Residential buildings will be lower by half - says one of our interlocutors from Politika.

"Deka Engineering" appeared on the advertisement for the Land Department in April this year as the only bidder for the lease of land in Block 67a in which neighborhood `Delta City` is. For a parcel of 36,025 square meters (approximately a quarter of land on which Belleville it built) the investor is offered around 1.3 billion dinars, which was the initial price.

- When an investor receives a final decision on acquiring the lease, conditions will be obtained to conclude an agreement on regulation of rents and fees for construction land with the Authority - said Nenad Bajic from the Directorate of Land Development and Construction of Belgrade.

The contract with the Directorate could be signed next month, and the deadline to complete the building of all buildings is 36 months from the date of obtaining building permits. Lessee is obliged to apply for the issuance of the document within 12 months from the day the contract with the Directorate is concluded .

The construction of the complex Andrej Milovanovic and Bojan Jovanovic could end up before the expiry of three years and it is not excluded that their homes will be not only very competitive with `Belleville`, but withother residential and business districts that will be built nearby as well. For, as a interlocutor from daily Politika assessed, the price of square meter should not exceed 1,600 euros.

Jovanovic and Milovanovic were the in the focus of the public attention when in August 2008 Marbo sold Pepsi for 210 million euros. Their names were in the focus again last year in February, when they were mentioned as candidates for strategic partners of Jat Airways. A month later, they were spoken of as potential new bosses of Kraljevo refractories industry Magnohrom. But with these purchases, as stated in the Privatization Agency, nothing happened.