LAMDA Development SA announces that its 100% subsidiary company in Serbia, Property Development DOO, was the highest bidder in the open public contest for the sale of the property that was possessed by the company BEKO which was under the status of bankruptcy. The contest took place as an open auction and the bid reached €55,8 million.
The 43.000-m² property is located at the center of Belgrade. The total surface of the plot is expected to exceed 120.000 m² whereas the works will commence when permits are finalized. The total investment amount is expected to reach €190 million.