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After years of delay, Slovenian ERA group has found a partner in Hungarian-based TriGranit for a €130 million upgrade to change Skopje Fair into a business and shopping venue called ERA City.
Apart from the existing exhibition space and a multi-purpose hall, the companies plan to build two shopping malls, a business and entertainment centre, office buildings, a hotel and multi-storey car parks.
”ERA City will be one of the largest complexes in Southeast Europe,” ERA board chairman Gvido Omladic said in Skopje.
ERA launched the upgrade project back in 2008, but construction quickly halted, as Omladic said, due to the global financial crisis that scared off investors.
The project was given a fresh start after ERA and TriGranit signed a partnership deal on February 11.
The new facilities will spread across some 100.000 square metres, adjacent to the existing fair that covers 65,000 square metres.
TriGranit corporation is one of the largest European integrated real estate investment, development and management companies. It has experience in building similar complexes and malls in other countries.
It operates in seven countries in Central and Eastern Europe with a value of realized projects said to total some €2.5 billion.
“We look forward to transferring some of our experience here,” the CEO of TriGranit, Arpad Torok, told the local media.
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