News Article Belgrade Czech Republic development residential SEE Serbia UDI Group
by Property Forum | Residential

The Lastavice development project in Belgrade, Serbia, has just completed its rough construction. The first building of the project, which will offer almost 500 flats and require an investment of more than CZK 2 billion (€84 million), will be completed by the Czech developer UDI Group in spring 2024, while the construction of the second of the project's two buildings will begin at that time.

"We are building the first of two 11-storey apartment buildings in the so-called New Belgrade on a plot of land four kilometres from the city centre. A total of 492 apartments, 39 shops and 650 parking spaces will be built here," added Marcela Fialkova, director of strategy at UDI Group. "In May, we completed the rough construction of the first building. Work is now underway on the interior installations, followed by the installation of windows and partitions in the interiors. Everything is on schedule so that we can complete the first building in the spring of next year. We would also like to start construction of the second building at that time," said Bernhard Widder, UDI Group Director for Serbia. The Lastavice project will be another in an area that is developing very quickly. The project comes from the local architectural studio ZAP, which won the architectural competition. It has designed two L-shaped apartment buildings on a 9700 sqm plot.

Serbia is currently the largest foreign market for the Group's portfolio. In addition to the Lastavice project, the developer is preparing its largest-ever Duga project there, which also combines housing with retail on the ground floor with offices. The project will have an investment value approaching CZK 9 billion (€380 million). The developer launched an international architectural competition for Duga, won by British architect Ian Bogle. Another Serbian project by UDI Group is Zvezdano Brdo, where 320 apartments are to be built at an investment cost of around CZK 1 billion (€42 million).

In addition to housing, UDI Group is also planning logistics in Serbia. In addition to Serbia and the Czech Republic, the Czech developer UDI Group is also active in Hungary and Poland and, since last year, in Latin America. It does not focus only on residential projects, it is a complex investor that builds housing, offices, shopping centres and industrial development.