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19 Avenue - Construction start, March 2006
Belgrade, March 7, 2006 – After completing the office building “GTC HOUSE”, GTC International
launches construction of a new facility in Belgrade – the business and residential complex in
New Belgrade’s Block 19A, comprising the area of 60,000 m2.
Austrian construction company “Alpine“, which is already engaged in two significant projects in
Belgrade, has been selected for the main contractor at an international tender. The company won
the tender after an intense competition from local and international firms. This is a significant
construction agreement and GTC is proud to have Alpine as a partner. Alpine is the 2nd largest
Austrian contractors with a magnificent reputation in construction and civil engineering. The
hand over of the site has taken place between GTC and Alpine and the contractor now takes full
responsibility over delivery deadlines. Construction is to commence next week, and the first
development phase will be finalised in the fourth quarter of 2007.
Chief architect on the design is Mr Bo˛idar Putnikovic, of design studio “Slavija Biro“ and the
whole project is managed by EC Harris International, a well respected and recognized name throughout
the world in cost and project management. Construction finance of the “19 Avenue” office building by
the European Bank for Reconstruction and Development and Raiffeisen Zentral Bank.
The exclusive sales and leasing agent is Colliers International. The sales process which started in
October 2005, has shown tremendous results and over 50 apartments have been sold representing
over 45% of Phase 1 of the residential building, which indicates that market obviously trusts developer
due to it’s reputation and quality building. 20% of the office space in the 19 Avenue office building is
in advanced stage of negotiations for leasing with serious and reputable foreign organizations.
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