The military base is given a new role

The leaflet says that the project is being built on the surface of the former military base "Bubanjski heroji", which dates back to the Ottoman era.

Filip Bej, director of "Clean Earth Capital", said that the base "Bubanj heroes" is the first military base sold in Serbia at an auction.

New York Times said the company had invested about 8.5 million euros in the project up to now and planned to invest an additional 10 million euros next year.

However, as the paper recalls, the company will have to find more funds because the project is expected to require between 140 and 180 million euros.

The construction deadline is 2024 and the faculty, the hospital and the regional arts center are expected to supply approximately 14 acres.

The company has also reached an agreement with the authorities of Nis for the construction of about 24, 000 square meters of housing, which will belong to the army.

Hey, he says New York Times, is not the only entrepreneur to see the benefits of Niš, he is only one of many investors who have invested about 220 million euros in the city in the last six years.

Bay also believes that Nis could be Serbia's new "urban center" because of its strategic location.

He hopes that "Novi Niš" will also be able to launch other development projects in the region.

The project continued at the beginning of its development and the demolition of 28 of the 32 military buildings on the surface of the base lasted several months.