New Belgrade or Novi Beograd (Serbian Cyrillic: Нови Београд, pronounced [nôʋiː beǒɡrad]) is one of 17 municipalities that constitutes the City of Belgrade, the capital of Serbia. It is a planned city, built in 1947 in a previously uninhabited area on the left bank of the Sava river, opposite the old Belgrade. In recent years it has become the new financial centre of Belgrade and its fastest developing area, with many businesses moving to the new part of the city, due to more modern infrastructure and larger available space.