Skyscrapers in Belgrade, Luxury on Kosmaj and Fruska Gora – 2022 Retrospective, Investments in Real Estate

The real estate market in Serbia has been flourishing from year to year. This didn’t change in 2022, despite Covid and the war in Ukraine. The total amount of the money in the real estate market in Serbia in the first six months of last year amounted to EUR 3.6 billion, which is an increase of 25% compared to the same period in 2021, as shown by an analysis by the Statistical Office of the Republic of Serbia.

When it comes to the third quarter, the total amount of the money in the real estate market amounted to EUR 1.7 billion, which is an increase of 10.6% compared to the same period the year before.

There were construction activities everywhere last year, from Belgrade, through Kosmaj and Fruska Gora, to Zlatibor. The trend of luxury condominiums on mountain slopes is noticeable, but so is the trend of office and residential facilities in big city centers.

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

1. Hollywood Hill NS

Koloseum Gradnja from Novi Sad and Avangard Gradnja from Temerin are building a luxury settlement Hollywood Hill NS on the slopes of Fruska Gora. The completion of the complex is planned for the end of 2023. Two types of villas are planned - double buildings with two vertical residential units and independent villas. Each facility will have a swimming pool, garage and two to three parking spaces per residential unit, as well as an elevator and its own yard.

According to the project manager Aleksandra Pejovic, the uniqueness of Novi Sad's Hollywood Hill lies in the combination of Fruska Gora nature and Kamenica wind rose, near the city, but above all in the concept of the settlement itself, modeled after Hollywood Hills, a famous residential part of Los Angeles.

– Each villa will bear the name of a Hollywood diva, e.g. Marilyn Monroe, and the internal street will be made to resemble the Hollywood Walk of Fame – our interlocutor stated.

2. Kosmiko Hill settlement

Luxury living among vineyards in the famous Napa wine valley in California inspired the owner of the company Kosmiko doo Beograd, Miroslav Stanojevic, to start the project of the construction of a resort concept that is unique in Serbia, HedoWine, at the foot of the Kosmaj Mountain, in the village of Nemenikuce.

The complex is worth EUR 20 million, and once it is fully finished in the third quarter of 2023, Kosmiko Hill will spread on 200,000 m2. The complex will encompass 34 villas, the vineyards will take up 100,000 m2, and the residents will be provided with a wellness and spa center, a winery, two restaurants and a cafeteria.

– The concept, which initially entailed a hotel and several apartments, grew into Kosmiko Hill, a luxury resort – condominium, which is a combination of urban luxury and nature, with villas, vineyards, a winery, restaurants, a spa center… – Stanojevic, who has lived in Napa himself, said for eKapija.

3. Novi Sad Waterfront

“An Analysis of Traffic with the Help of Micro and Macro Simulations of Traffic Flows in the Shipyard Location in Novi Sad”, which was prepared by Via Inzenjering doo in 2019, shows that around ten buildings might be built in this area.

The space is divided into five zones, one of which is exclusively a business zone, whereas another is exclusively residential. Other zones are mixed and intended for both residential and commercial features. A hotel is planned in one zone as well, so “a balanced ratio of traffic directions” is planned, due to the arrival of guests to the hotel.

According to estimates, there could be 2,299 apartments in these zones, in residential and mixed buildings. The total floor area of the planned facilities is 39,600 m2.

4. EXPO 2027

Next to the future National Stadium in Surcin, the multifunctional complex EXPO 2027 is to be built. This is said in the Draft Spatial Plan of the Special-Purpose Area of the National Football Stadium.

In June last year, the Government of Serbia adopted the decision by which the Project of the construction of facilities to the end of the realization of the international specialized show EXPO BELGRADE 2027, with the accompanying features, was pronounced a project of significance for the Republic of Serbia.

On 830,000 m2 of exhibition space, a multifunctional space for exhibitions and congresses of the highest state importance is planned. The construction of a hotel and an apartment hotel on 69,336 m2 is planned within the unit meant for accommodation capacities, whereas commercial features will spread on 229,105 m2.

5. Tempo Tower skyscrapers in Bezanijska Kosa

In Bezanijska Kosa, in Partizanske Avijacije Street, three Tempo Tower skyscrapers will be built, and the project will be financed by the private investors who own the land.

The investors announced that “three new traffic routes will be built as well, and additionally, across the highway, a pedestrian-cycling bridge is planned to be built, connecting the Sports and Recreation Center “11. april” with the other sports features in Bezanijska Kosa”.

The announcement of the construction was not welcomed by the residents of the Bezanijska Kosa settlement, who gathered at the outdoor sports courts of the Sports Center “11. april” in order to express their dissatisfaction due to the attempts of the investor to change the Detailed Regulation Plan and build three skyscrapers of 100 and 120 meters.

6. Tower at the corner of Tresnjinog Cveta Street and Mihajla Pupina Blvd Belgrade

The Secretariat for Urban Planning and Construction of the City Administration of Belgrade announced, at the beginning of 2022, an early public review on the occasion of the preparation of the Detailed Regulation Plan for a part of the New Belgrade Block 11a, according to which, the construction of a tower of up to 80 meters is planned at the intersection of Tresnjinog Cveta Street and Mihajla Pupina Blvd.

The DRP for said part of Block 11a was prepared at the initiative of a legal entity, the company Kantata from Belgrade, the owner of the parcels within the borders of the proposed plan. The total area covered by the plan is around 4 ha.

As can been seen from the orientation display of the planned capacities, the construction of 14,000 m2 of open-space office space is planned.

7. K4 Kosmaj complex

In a location a fifteen minutes’ walk away from the very peak of Kosmaj, the plan is to build the K4 settlement, four houses in a row featuring a mountain building style with slanted roofs. The works completions deadline is 2024. The designer and the investor in the construction is Atelje Djukic from Mladenovac.

– The is a specific, “loose” row of connected houses, so each house of 102 m2 will have its own access and privacy ensured through separation walls with lined flower pots, as well as front and back yards and a pool. Considering that this is a descending terrain, the pools are elevated, narrow and long and thereby suitable for swimming – Djurdja Djukic, the author of the project and one of the owners of Atelje Djukic, said for eKapija and emphasized that, in terms of its architectural features, that style of construction had not been seen before on Kosmaj.

8. AFI City Zmaj

At the end of last year, AFI Europe Serbia announced that it was launching a new project – AFI City Zmaj. This business complex, which is being raised in the location of the famous Zmaj factory, is to consist of an east and a west wing: AFI CITY ZMAJ East and AFI CITY ZMAJ West.

At the very entrance to Belgrade, practically on the highway, 13 minutes away from the airport and about as much from the city center, a complex of a total of 180,000 square meters will be raised. The plan is for it to be built in phases, and each phase will entail 90,000 square meters.

This manner of construction and the concept of the project itself, with certain conceptual additions, relies on the unique success of the business park Airport City Belgrade, which the same investor has been successfully developing for over 15 years.

9. Residential-office complex Newport New Belgrade

In close proximity to the complex West 65 and Wellport, as well as Airport City in New Belgrade, the building of new square meters within the newly planned complex “Newport” is to begin soon.

According to the urban project, which was prepared by Bureau Cube Partners for the purposes of the company ABC Development, on a parcel of 15,686 m2, seven facilities will be built, six of which are residential-office buildings, whereas the remaining building will be an office building.

Their construction is split into two phases, and the subject of the urban project which was up for a public presentation in October last year, is the first phase, which entails the construction of the facilities A1, A2 and A3, of which A3 will be a ground-floor building, meant only for business.

10. Central Plaza Belgrade

In the close vicinity of Slavija Square, Karadjordje’s Park and Saint Sava Temple, in the city center, the construction of a unique residential complex Central Plaza, wits its sophisticated architecture heavily resembling New York’s Plaza Hotel, is set to begin.

The complex will have a stone facade, modern colonnades, large glass surfaces, balconies providing comfort and intimacy, with carefully planned landscaping being an integral ambience of all balconies within the complex.

Central Plaza offers a total of 63 residential units on ten floors, from two-bedroom to five- bedroom apartments. The ground floor of Central Plaza will feature retail space, while the garage is planned on four underground levels.

The leading real estate consultancy in Serbia - CBS International, part of the Cushman & Wakefield Group is the Exclusive Sale Representative for Central Plaza complex.

We presented the 10 investments that attracted 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 2022 in the fields of TRADE CENTERS, SPORTS, TOURISM, ENTERTAINMENT AND RECREATION, INDUSTRY, AGRICULTURE AND FOOD INDUSTRY, UTILITY INFRASTRUCTURE AND ENERGY, TELECOMMUNICATIONS AND IT and ECOLOGY.