ARTICLES LABELLED WITH TAG Serbia

According to local real estate agency Cordon, the Belgrade residential market recorded a total transaction volume of €650 million in the fourth quarter of 2024. This represents a 32.6% increase compared to €490 million in the fourth quarter of 2023, when the market was still affected by a two-year stagnation period. While the volume is objectively high, Cordon notes that the year-on-year comparison should be viewed with caution, as the 2023 figure reflected an exceptionally weak period.  

CTP has developed a new 18,000 sqm build-to-suit production facility for Schott Pharma, a supplier of pharma drug containment solutions and delivery systems, at CTPark Jagodina in Serbia. 

CA Immo has completed its strategic withdrawal from the Serbian market with the sale of the Sava Business Center in Belgrade for an undisclosed sum.  

The European Bank for Reconstruction and Development (EBRD) is providing a regional loan of up to €120 million to AFI Europe to support its development pipeline in Serbia, Poland, Romania, and Czechia. 

BIG CEE, a subsidiary of BIG Shopping Centers, has announced a significant €100 million financing agreement with the European Bank for Reconstruction and Development (EBRD) to fuel its expansion across the Balkans. 

GTC has announced the sale of its GTC X office building in Belgrade for €52 million. The transaction, finalized in early February, generated net proceeds of €24 million for GTC after the repayment of a bank loan.

Belgrade's real estate market is showing signs of a mild recovery this year, though significant changes are not expected in the short term, according to a Cordon report.

Industrial developer CTP has signed three new leases with logistics provider Milšped in Serbia, taking the total leased space by the company to 105,000 sqm. 

Savills has entered into an association with Cortina in Serbia to support its expansion in Europe. 

The biggest growth in Eastern Europe is foreseen in Bulgaria going into 2025, while the rest of the countries are projected to make side moves in the coming years, according to a report by the Eastern European Construction Forecasting Association (EECFA).