Why is construction of super luxurious hotel near Belgrade-based Arena late ?

(hotel project)

The new luxurious hotel at the corner of Arsenija Čarnojevića Street and Proleterske solidarnosti Street in Novi Beograd, near the Belgrade Arena, should be completed in August 2005, whereas, unofficially, the completion of the hotel is possible at the end of 2005. Building company Napred has finished its part of the work, and, unofficially, financial problems are slowing down the construction. The investor is New company Ltd. represented by Greek businessman Hristoforos Petris. The director of the company is Miško Stevović, whereas Greek is one of the investors. Unofficially, the co-investors are people from the management of company Con Tiki travel.

The complex consists of 2 independent units. One of them is the hotel that is turned to the highway, whereas the other part is housing complex whose construction is financed by Napred. The hotel occupies 10,000 square meters, it will have 192 rooms and 288 beds. There will also be 2 restaurants, open-air restaurant with cafe and pastry shop, 3 conference halls, sports and entertainment contents, sauna and garage for 100 vehicles. Special curiosity is cafe bar with the opservation deck, which is located at the seventh floor of the building. This luxurious building will not have the swimming pool.