ARTICLES LABELLED WITH TAG Serbia

Radisson Hotel Group has opened in Belgrade its first hotel under the RED brand, marking its expansion in Southeast Europe.

CBRE South Eastern Europe (SEE) has advised Diófa Fund Management on acquiring Indotek’s Belgrade office portfolio. 

CPI Property Group has appointed CBRE as manager of its Stop Shop retail park portfolio in Serbia, which comprises 14 retail parks in 14 cities and more than 120,000 sqm of leasable area. CBRE will provide integrated asset management solutions, including financial and property accounting services, leasing services, and will oversee all operational aspects of the property and tenants.

Indotek is transferring the management of the Gordius Private Equity Fund to fellow Hungarian investor Diófa Fund Management, which will also take over the Belgrade office portfolio held by Indotek, Portfolio.hu reports. Indotek Group said it will use the funds released by the portfolio restructuring to finance domestic and international acquisitions. The company also announced that it had acquired a significant part of the Vörösmarty shopping complex in Budapest at the end of the year.

CTP has leased 10,000 sqm of warehouse space and 1,400 sqm of offices at CTPark Belgrade City to Wagen International (Wint), an automotive parts supplier, for a new high-tech distribution centre.

Over the past year, many residential markets in CEE that have historically depended on credit buyers, have experienced a significant slowdown. This is not the case with Serbia’s residential market which has been dominated by cash buyers. At the same time, the local commercial real estate market also remains attractive to foreign investors, especially for the development of logistics and industrial facilities. These are just some of the conclusions of last week‘s Balkans Property Forum 2023, organised in Belgrade by Property Forum.

BIG CEE and RC Europe have reached an agreement on the sale and purchase of two retail parks in Serbia, NEST Obrenovac and Nest Kraljevo. The transaction was facilitated by CBRE, the buyer announced.

Total transaction volume in Q3 2023 in Belgrade was €456 million, which represents a decrease of around 21% year-on-year, according to real estate agency Cordon’s report for Q3 2023.

Brno-based Domoplan from the Fipox Group continues its expansion into Southern Europe. At the beginning of the year, it announced the construction of apartments worth hundreds of millions of crowns in Zagreb, Croatia, and now it is also entering the Serbian market. At the beginning of next year it will start construction in Belgrade, where it is planning a luxury residential project worth €20 million, reports e15.cz.

The European Bank for Reconstruction and Development (EBRD) is boosting the development of green commercial real estate in the Western Balkans, with a debt package of up to €100 million to be used by BIG CEE for the company’s regional expansion.