BELGRADE PALACE RECONSTRUCTION BEGINS

11/24/2020

Belgrade, November 24, 2020 - Marera Propertiesbegan with the reconstruction of the famous Belgrade Palace investing over 8 million euros in its adaptation. The planned worksrefer to the space from the 5th to the 23rd floor that the company recently bought from the city of Belgrade in a public bidding procedure. The reconstruction will take place in several phases, while the final stage and the completion is planned for the very end of 2021, when it will be possible to rent out A-class offices conforming to global standards and trends. The whole process of adaptation is set up so that all ongoing activities in the building’s vicinity, such as traffic, can occur without any disruption.

"We lead the entire reconstruction project of the Belgrade Palacekeeping in mind the interests of our fellow citizens. We are proud of the new architectural design that will emphasize the universal and timeless design done previously by architect Branko Pešić, through modern interpretation, highest quality materials, and new energy of the spatial concept. Within the project, the so-called green oases will be created on the fifth and sixth floor terraces,representing the innovation in the Serbian commercial real-estate market. In addition to an extremely pleasant overall appearance and added value for tenants, green oases testify to our commitment to sustainable and ecological projects. I would like to point out that there is a great demand for renting out office spaces, both with current and new, potential clients. In this stage of redevelopment, over 60 percent of the space has already been rented out, " said Milana Srećkov, the CEO of Marera Properties.

Along with the above-mentioned green zones, which are designed as parks, the replacement of glass surfaces on the facade, as well as the complete reconstruction of the main building entrance will be included in the project. The plan also encompasses modernization of the elevators, replacement of all installations and improvement of natural ventilation to create adequate "lungs" for business operations, even in emergency epidemiological situations such as the current one. With other upgrades and advanced technologies, the planned implementation of a smart building management systemwillimprove the overall energy efficiency of the building.

Within the Belgrade Palace, Marera Properties will create a completely new space of a modern and functional design. What makes this company's office portfolio stand out in the market is the maximum flexibility catering to the tenants’ needs.