News Article Belgrade GTC Indotek investment office SEE Serbia
by Property Forum | Investment

Indotek Group has completed the acquisition of 11 office buildings in 5 business parks in Belgrade from GTC. With the closing of one the recent years’ largest transactions in CEE, Indotek Group has further strengthened its position in the regional real estate market and is now present in 12 countries.

The sale and purchase of 11 premium office buildings in Belgrade, which Indotek Group acquired in 2021 from Globe Trade Centre S.A., has been completed. Thus, Indotek Group enters the Serbian real estate market with a portfolio of more than 122,000 sqm of premium office buildings through a sale and purchase agreement worth €267.6 million. The transaction includes 11 premium office buildings in 5 business parks in Belgrade: the Green Heart, FortyOne, Belgrade Business Center, 19 Avenue and GTC House office buildings in the centre of the Serbian capital.

Indotek Group was represented in the transaction by law firms Lakatos, Köves and Partners and BDK Advokati, while GTC was represented by Dentons Réczicza Law Firm and ZSP Zavišin Semiz i Partneri.

"The closing of this transaction demonstrates that Indotek Group's business strategy and performance is highly successful not only in Hungary but also internationally. And these business successes are based on decades of expertise, competence and extensive experience. The growing momentum in office leasing is creating excellent investment opportunities in the active Serbian real estate market, which we are already entering in a prominent position thanks to the transaction volume. In line with our international expansion strategy, our company is planning further acquisitions in the Balkans, as well as in the V4 and Southern European markets. We are also planning to launch a pan-European logistics real estate development fund and a fund focused on infrastructure investments in the Balkans," said Dániel Jellinek, Founder and CEO of Indotek Group, commenting on the transaction.