The Delta Real Estate signed with Germany's Bauhaus retail chain on Monday a contract on the construction of the first Bauhaus retail store in Serbia, and the total value of the investment is EUR 25 million.

Bauhaus's 20,000 square meters retail center will be built in the New Belgrade municipality and will offer a range of over 120,000 products in the category of construction materials, bathroom display, garden lighting equipment and home products.

The contract was signed by General Manager of Delta Real Estate Dejan Racic and Bauhaus's Director for International Development Helmut Diewald, in the presence of Deputy German Ambassador to Serbia Hans-Ulrich Sudbech.

Diewald said that the opening of the Bauhaus retail center is only the first step in the company's expansion to the Serbian market, and announced the opening of more stores in Belgrade, Novi Sad (Vojvodina) and Nis (southern Serbia).

He stressed that the new store in Belgrade will employ about 230 workers.

Diewals reiterated that Bauhaus is a retail chain specialized in workshop, home and garden products, which was founded in 1960 and has over 200 stores in 15 countries.

The signing of the agreement was also attended by President of Delta Holding Miroslav Miskovic.