Three investors coming to Jabucko Ravniste - Falkensteiner and two Serbian companies to commence construction in 2014

Mount Stara Planina has never been more interesting to investors than this summer. Knjazevac's beauty attracts both foreign and local investors and, as a result, the implementation of as many as three large investments is expected to begin within the next year!

The latest news is that the Falkensteiner (FMTG) company, which already runs a hotel at Jabucko Ravniste, is going to invest about EUR 30 million in the construction of six condotels. Aside from the Austrian hotel chain, two local investors are also coming to Stara Planina soon. One of them is going to invest about EUR 700,000 in multi-family homes, whereas the other will have an about EUR 1 million worth of condotel built at this mountain.

We have asked Miroljub Bozinovic from the Stara Planina public company to tell us more about these projects.

Falkensteiner builds another 300 suites

Since Falkensteiner Stara Planina Hotel achieved very good results, Austrians decided to continue to develop their tourist resort at the highest mountain in eastern Serbia.

Condotels, which are made up exclusively of suites, with certain common facilities, are smaller than "classic" hotels. According to the memorandum signed, Falkensteiner will have three such facilities built in the first phase that is due to start next year. The plan is to finish them by the end of 2016. The remaining three condotels will be built in the period 2017-2019.

The state will provide the land, accompanying infrastructure and necessary permits, whereas the costs of construction and equipping will be covered by the foreign investor.

- These facilities are expected to cover a total of about 35,000 square meters and comprise a total or around 1,000 beds. Each condotel will include approximately 50 accommodation units, that is, suites - Bozinovic explains to our web portal.

- Construction of these condotels cannot take longer than agreed because the state will aks the contractor to guarantee deadlines – says our interlocutor, who also stresses that it is possible that these buildings will be finished before the deadline.

Falkensteiner will manage these facilities once they are completed.

- The future will show if these buildings will be sold later or the company will keep managing them. We assume that condotels will most probably remain in the possession of FMTG, given that Falkensteiner Stara Planina Hotel is nothing but success – Bozinovic adds.

Stiže i srpski kapital

However, Austrians are not the only ones interested in turning Jabucko Ravniste into Serbia's Alps.

This year the state is searching for co-investors for some other facilities as well, which is why they have issued requests for proposals for the construction of a hotel and suite complex and multi-family homes at Mount Stara Planina.

As our web portal reported only few days ago, a proposal for the construction of multi-family homes has been submitted by a local company. Although we failed to find out the name of this company, it is not a secret that negotiations are already underway and that an agreement is expected to be signed within the next ten days or so.

What we haven't known until now is that a proposal for the construction of a hotel and suite complex at Mount Stara Planina has been submitted by another local company!

- One local investor will be building a condotel worth about EUR 1 million, while the other will have about EUR 700,000 worth of three multi-family homes built. These are the estimated values of investments - says our interlocutor.

By the way, Stara Planina is covered by snow almost five months a year. Aside from the first gondola ever built in Serbia, Jabucko Ravniste also features a four-seat ski lift.

With new accommodation units, Stara Planina is taking serious steps towards joining the top winter resorts in the country.

Where there is a smoke...

Although this is still only a speculation, Stara Planina has also been mentioned lately as a possible investment destination for people from the Emirates, who have already bought Jugobanka Hotel at Mount Kopaonik. Allegedly, according to some sources, sheikhs are interested in investing in the renovation of tourism infrastructure at Mount Stara Planina as well.

M.S.

JP Stara planina Knjaževac

Vlada Republike Srbije

Sp resort doo

Falkensteiner Hotel Belgrade

Falkensteiner Michaeler Tourism Group Austria

Ministarstvo finansija Republike Srbije

Stara Planina

Falkensteiner Stara Planina

Falkensteiner Michaeler Tourism Group Austria

Miroljub Bozinovic

Falkensteiner

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condotel

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Kopaonik

hotel Jugobanka

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Jabucko ravniste