Here is who will be entitled to subsidies for the construction of new hotels in spas and in Belgrade

Investments in new accommodation capacities, as previously announced, are necessary for the implementation of the international specialized exhibition EXPO Belgrade 2027.

Who will be entitled to help?

The state will allocate money for investment projects in the hotel accommodation service sector in spa and climate resorts, the minimum value of which is 2 million eurosand which ensure the employment of at least 30 new employees for an indefinite period.

Also, in addition to spas in Serbia, funds can be allocated for investment projects Belgrade region for the construction of a hotel that will be categorized with three or more stars and have a minimum of 50 accommodation units, which is the minimum investment value of 5 million euros.

The state will in the Belgrade region also help hoteliers who plan to reconstruct or expand hotels that will be categorized with three or more stars and have a minimum of 50 accommodation units, which is the minimum investment value of 2 million euros.

It is necessary for hoteliers to provide participation of at least 25% of justified costs from own funds or from other sources which do not contain state aid.

Deadlines for construction and employment

Applications for state aid are possible until the end of 2024.

The deadline for the implementation of the project and the employment of new employees connected with the investment project in the spa and climate resorts is up to three years from the date of submission of the application for the allocation of funds. As stated in the regulation, the term after the conclusion of the contract on the allocation of incentive funds can be extended for a maximum of five years, if the Council for Economic Development considers that the circumstances that led to the need to extend the term are objective and that the extension of the term is justified and expedient.

For investments of special importance, the deadline for the realization of the investment project and the employment of new employees connected with that investment project is up to ten years from the date of submission of the application for the allocation of funds.

For investments in the Belgrade region, the deadline for the implementation of the investment project is two years from the date of submission of the application for the allocation of funds, and this deadline can be extended after the conclusion of the agreement on the allocation of incentive funds until December 31, 2026 at the latest.

Exceptionally, as stated in the regulation, the deadline for determining the hotel category can be extended until February 28, 2027.

Let us remind you that Finance Minister Siniša Mali announced at the end of October that the state will subsidize the construction of new hotels and the reconstruction of existing ones, because Serbia lacks accommodation facilities for EXPO 2027.

The President of the Business Association of the Hotel and Hospitality Industry of Serbia (HORES), Georgi Genov, said that Belgrade needs more hotels and that the state’s stimulus for the construction of new ones, due to the international exhibition EXPO 2027, is encouraging, but the decision on whether to invest will be made by investors.

By the way, the state has so far stimulated the construction of hotels in spas and climatic places, namely for investment projects in the hotel accommodation services sector, the minimum value of which is EUR 2 million and which ensure the employment of at least 30 new employees.

(Source: eKapija)

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