Tenants to move into Novi Sad's "Park City" by end of year 2009 - 65% of apartments and 70% of office space already sold

- The first two out of four buildings in residential-business complex "Park City", at the corner of Narodnog Fronta Street and Shakespeare Street in Novi Sad, have been finished - company "Vondel capital" announced. The first tenants and buyers of office space are expected to move into the building by the end of the month, while the whole complex should be completed by the end of year 2009.

"Park City" is currently the largest building investment in Vojvodina. Total value of works amounts to nearly 90m EUR.

According to the announcement, 65% of apartments and 70% of office space within the facility have already been sold, while half of outlets have been either rented or sold.

- This complex will include the stores of of Slovenian "TUŠ" and German "DM", as well as a restaurant from German chain "Vapiano", which is present all over the world with over 60 facilities, one of which has recently been opened in Shopping mall "Ušće" in New Belgrade. There will also be a Novi Sad's coffee shop "Makijato" and many others - said the people from company "Vondel capital".

Complete building A has been bought by Novi Sad-based company "DMS", while half of building B is in the possession of "Micronas" from Novi Sad, which also deals with high technologies.

Total of 30 out of 50 luxury suites with the surface of over 150 square meters were sold while under construction. The prices of square meters range between 1,200 and 2,200 EUR.

- We are of the opinion that such high percentage of sold property represents a real success at the time of the economic crisis that hit the building sector very hard, but it is also an indication that there are always buyers who are ready to invest in top quality. The investor has made all of its promises when it comes to quality of equipment, works, and designer solutions for both exterior and interior, which probably drew the attention of the buyers - said the investors.

The complex named "Park City", at over 60,000 square meters, has 280 apartments and luxury suites whose sizes range between 30 and 420 square meters, as well as an underground garage with about 400 parking places.

The land on this parcel has been rented on period of 80 years at the price of about 500m RSD.

"Vondel capital" is a company with the headquarters in Amsterdam, and its basic field of work is investing in real estates on the territory of Netherlands, as well as on the territory of Novi Sad since recently. As a co-investor, "Vondel capital" has, so far, realized the project for construction of business building at 6 Trifković Square in Novi Sad (this project won "Ranko Radović" award).