Meshulam Levinstein d.o.o

MIGA issued €18 million guarantee to Bank Austria Creditanstalt AG of Austria for its non-shareholder loan to Mershulam Levinstein d.o.o. of Serbia and Montenegro (SAM). The coverage is for a period of twenty years and is against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project involves the construction and operation of an office building in New Belgrade, the city’s commercial area. The project will help fill the need for quality office space in Belgrade and facilitate private sector development. The project is MIGA’s first real estate project in the country and it is expected to house approximately 700 people. Up to 300 people will be hired during the construction phase and the cost of hiring local sub-contractors is estimated to be $1.1 million.  The completion of the project will have a significant demonstrative effect as one of the first international real estate projects in Belgrade.