Luxury in Dedinje and Sumadija and EXPO 2027 – 2023 Retrospective, Investments in REAL ESTATE

Since it was announced in June 2023 that Serbia would host the international specialized exhibition EXPO 2027, news about the project have been flooding the local media. On one hand, described as one of the biggest projects for Serbia, on the other, criticized due to the facts that the works – whose value grows with each day, with the latest information being that Serbia will invest up to EUR 14 billion – will be agreed without the application of the Law on Public Procurement Procedures, EXPO 2027 expectedly drew the most attention from our readers when it comes to investments in real estate.

However, you were also interested in the new residential-office complexes that are to be built in Belgrade, but also in the heart of Sumadija and Vrdnik. We learned that facilities would be built in the location of the former FMP complex in Cukarica and in the location of Hotel Jugoslavija in New Belgrade, and luxury projects in Arandjelovac, Dedinje and Vrdnik were also announced.

These are the stories that eKapija’s readers found the most interesting.

1. EXPO 2027

One of the biggest projects for Serbia, as it was announced, drew the most attention from our readers, as expected. The president of Serbia, Aleksandar Vucic, announced in August that all the projects that were planned to be done in the next four years would cost around EUR 12 billion, not counting the project for which the money had already been secured.

He also announced the New Belgrade Rail Station for two years from then, the completion of the bus station by 2025, that the national stadium had to be completed by the autumn of 2026 and the entire EXPO by December 2026.

In October, the Government of Serbia adopted the Bill on Special Procedures for the Purpose of the Realization of the International Specialized Exhibition EXPO BELGRADE 2027.

The complex which will be built for EXPO 2027, upon the completion of this event, should become a residential settlement for around 4,500 tenants, according to the Draft Spatial Plan of the Special-Purpose Area of the National Football Stadium – phase three. This document envisages the construction of a school and a kindergarten within the future complex.

2. Residential-Office Complex Victory Gardens in Cukarica

The company Victory Gardens, owned by the Belgrade-based company Kadena Properties, is building 5 units with 1,238 apartments and 1,699 parking spaces in the location of the former FMP complex in Cukarica. The facilities will lean on the Julino Brdo area in Zarkovo. For the purposes of the construction, 18 facilities of the former FMP complex are planned to be removed, according to the Urban Plan.

As can be seen from the preliminary design, the planned facilities will have 2 to 5 underground levels and 10 to 12 floors for residence and business, plus lofts.

In August, the Belgrade Secretariat for Environmental Protection adopted the decision saying that the preparation of an environmental impact assessment study was not necessary for the project of the construction of the residential-office complex in the location of the former FMP complex in Cukarica.

3. Residential Complex Bekatown Arandjelovac

The company Bekament is building the residential complex BEKATOWN in the heart of Sumadija, only a 45 minutes’ drive away from Belgrade, at the foot of the Bukulja mountain and five minutes from the center of Arandjelovac. The settlement spreads on over 200,000 square meters, of which over 7.5 ha is covered by developed green areas. The concept is of a semi-closed type, with professional maintenance, security and video surveillance system.

The complex offers 188 houses of various types, structures and functional interiors, with floor areas ranging from 132 to 346 square meters. They have garage or parking spaces and backyards of various areas, which can also have a pool. The settlement also features residential buildings arranged in eight units with a total of 356 apartments of various structures.

4. Residential-Office Complex in Location of Hotel Jugoslavija in New Belgrade

The construction of a complex of 240,000 m2 is planned in the location of Hotel Jugoslavija in Zemun, according to the Detailed Regulation Plan which was put up for early public inspection in September by the Belgrade Secretariat for Urban Planning and Construction.

The plan entails a residential office building 155 meters tall, and in addition to residence, the construction of trade, commercial, business and facilities of other purposes is possible as well.

The investor in the preparation of the plan is MV Investment.

Considering the expected increase in the number of potential users of the space, the only change compared to the current state is an expansion of Nikola Tesla Blvd at the intersections with Aleksinackih Rudara Street and Marsala Tolbuhina Blvd.

5. Residential Complex King’s Fountain Belgrade

Near the King’s Complex, the project of the King’s Fountain is to be built, announced as the third biggest Swiss investment in Serbia and the biggest Swiss investment in real estate in Serbia. The expected completion of the entire project is planned for the end of 2025.

According to the investor, what makes this project unique is the synergy of five key factors, achieving a remarkable standard in the field of investments in real estate, and these are the premium location, the quality of the construction, the civil engineering, the first branded Wellness and Spa Goco Hospitality and the fifth key factor is a guaranteed refund within the concept of maintained apartments.

The target group are the purchasers who will use this real estate occasionally, but also all those who will choose King’s Fountain as their home for a longer period of time, such as, for example, experts, managers and diplomats who come to Serbia with their families for several years.

6. Marina Dorcol Complex

In early 2024, the construction of one of the most exclusive and most attractive residential projects in Belgrade – the Marina Dorcol complex – is to begin, it was announced in October last year.

The construction of this luxury settlement on the very bank of the Danube is planned in three phases, and the investor in this ambitious project is the Czech company Sebre. The architectural design was prepared by the famous Czech architect Stanislav Fiala and Jelena Kuzmanovic, and standards of construction and development which will considerably raise the bar in the premium residence market have been announced.

The Marina Dorcol complex will have a total of 564 apartments, 39 outlets, 68 business apartments, two annexes for preschool institutions and two side facilities.

The total investment is worth EUR 300 million.

7. Jugoimport SDPR Residential-Office Complex with 23 Units in Location of Former Barracks in Zemun

Jugoimport SDPR is building a residential-office complex with 23 units in the location of the former barracks in Zemun, as announced by the Secretariat for Urban Planning and Building Affairs of the City of Belgrade in the public presentation of the urban project for the construction of this residential-office complex in Zemun.

The complex is planned to have 347 apartments, 41 outlets and eight office apartments, as eKapija wrote three and a half years ago when this project was first available for public inspection.

The urban project has been approved and the location requirements have been obtained, and the subject of the project which was up for a public presentation in April are the changes planned on the second parcel covered by the plan, and the reason is the adding of another underground garage level.

8. Towers in Novkabel Complex Novi Sad

Two towers are to be built within the complex of the former Novkabel factory in Novi Sad, as envisaged by the urban project for the construction of administrative buildings with office-based business operations, which was available for public inspection in August.

The gross area of the ground floors of the planned facilities amounts to a total of 2,731.43 m2, and the gross developed floor area (aboveground) is 18,141.91 m2.

The facilities are to feature 40 office spaces, four commercial-business outlets, a restaurant with a kitchen and the necessary side features.

9. Lale Hill Complex Vrdnik

On the slopes of Fruska Gora, the Lale Hill residential complex is planned, with eight mutually independent houses and side features: two pools, a tennis court, a children’s playground, canopies and a bar.

The houses are positioned so as to not disturb the peace for each other, that is, so that each facility provides the impression of being alone in the whole complex, says the public presentation of the urban project.

The tennis court which is located on a separate parcel will be available exclusively to the tenants of the complex, without the possibility of public use. The aim, as said, is to achieve a higher-comfort residence.

10. Delta Business Towers New Belgrade

After the recent opening of the reconstructed business and congress part of the Sava Center, Delta Real Estate plans on starting the new construction sites in Belgrade and Novi Sad.

By 2027, Delta Real Estate plans to invest more than EUR 620 million in the real estate field.

In the coming period, the company is to launch three new projects. The first, as Angelina Nekic, general director of the Delta Real Estate company, announced at the end of last year, is the Delta Iron business complex on 40,000 m2 of modern offices, which Novi Sad lacks.

Next one is Delta Land, located in Despota Stefana Blvd in Belgrade, where the removal of buildings has already begun, and whose construction will take several years.

The construction of two office buildings and an international brand hotel in Block 20 in New Belgrade was announced for early 2024.

We presented the 10 investments which drew the most attention from our readers when it comes to real estate. Make sure to take a look at the full list HERE.

We also invite you to see which investments marked the year 2023 in the fields of TRANSPORTATION, INDUSTRY and PUBLIC UTILITY INFRASTRUCTURE AND ENERGY.

Kadena properties doo Beograd

Jugoimport-SDPR Beograd

Delta Real Estate d.o.o. Beograd

VICTORY GARDENS DOO BEOGRAD

Ogranak Serbia Prime Site One AG Beograd

Grad Beograd, Sekretarijat za zaštitu životne sredine

Banja Komerc Bekament doo Banja Aranđelovac

M&V investments ad Beograd

Aleksandar Vučić

Stanislav Fiala

Jelena Kuzmanović

Angelina Nekić

EXPO 2027

EXPO BELGRADE 2027

Kings fountain

Marina Dorćol complex

former FMP complex

Bekatown

Novkabel

Hotel Jugoslavija

residential office complex

premium residence

luxury real estate

Lale Hill Vrdnik

Delta Iron

Delta Land