Government introduces state subsidies for construction of hotels for EXPO 2027

The Serbian government has adopted a decree that stipulates a 20% state subsidy for the construction of new and expansion of existing hotels in spas and the Belgrade region.

As previously announced, investments in new accommodation capacities are necessary as Belgrade will host the international specialized exhibition EXPO Belgrade 2027 and the demand for accommodation will increase as a result.

Who will be entitled to aid?

The state will allocate money for investment projects in the hotel sector with a minimum value of EUR 2 million which will lead to the creation of at least 30 new and permanent jobs.

Also, funds can be allocated for investment projects in the Belgrade region for the construction of hotels with 3 or more stars, that will have a minimum of 50 accommodation units and whose minimum investment value is EUR 5 million.

In the Belgrade region, the state will also help hoteliers who plan to reconstruct or expand hotels (3 or more stars), have a minimum of 50 accommodation units and whose minimum investment value is EUR 2 million.

The hoteliers must ensure participation of at least 25% of justified costs from their own funds, or from other sources that do not rely on state aid.

Applications for this state aid should be submitted by the end of 2024, while the deadline for implementing investment projects is two years from the date of the application’s submission.

(N1, 22.11.2023)

https://n1info.rs/biznis/usvojena-uredba-kolike-ce-biti-subvencije-za-gradnju-i-rekonstrukciju-hotela-za-expo-2027/

This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top
× Thinking to invest in Serbia? Ask us!