The sale of the Genex tower in New Belgrade has been announced, with a starting price of two billion dinars

The Agency for Licensing of Bankruptcy Trustees, as the bankruptcy trustee, announced today the sale of the Genex Tower or the West Gate of Belgrade, a building owned by the foreign trade company Generalexport, for May 23, at a starting price of two billion dinars (2,086,705,183).Potential buyers will have to pay 900,000 dinars to the Agency for Licensing of Bankruptcy Trustees for documentation and a deposit of 834.68 million dinars, or deposit an irrevocable first-class bank guarantee, payable on the first call, by May 16 at the latest.
The western gate of Belgrade is being sold as seen after several unsuccessful attempts to sell it in the last ten years.

The tower consists of 28 business units and has 38 floors with almost 15,000 square meters of office space, plus a garage. Six floors have been leased for now, and the rest of the space is empty due to the unprofitability of including heating and water only for a part of the building, because it was built in units of six floors.

Once one of the largest foreign trade companies, Generalexport has been in bankruptcy since 2015, as well as its daughter company ICG.

A few months ago, the workers publicly protested because they were not paid the social program, about 5,000 of them received a few years ago about 27 percent of the recognized claims for the social program of 200 euros per year of service.

The workers are owed almost 3.3 billion dinars and they demanded that the money be paid to them because they claim that there are about 20 billion dinars in the company’s account, and the Bankruptcy Administration explained that delay by the fact that the creditors’ litigation is pending.