7.3ha prime development site

Property Overview

Urban planning: residential, commercial

Plot size: 73.771m2

Development: 500.000m2 of residential and 425.000m2 of commercial

Type: upmarket apartments, offices and hotels

Infrastructure: all available near the site

Distance from airport: 15-20 minutes

Distance from old town: 15 minutes

Public transport: available


The details of the forthcoming sale of an excellent real estate development site of 73.771m2 with development potential of GBA 500.000m2 of residential and 425.000m2 of commercial space (“the Site”). The Site is based in New Belgrade, the up-and-coming New Belgrade central business district.

It is considered as the largest and best development site in Belgrade. It took the Belgrade urban planners over 10 years to complete the urban planning for the site. It used to be an industrial site (brownfield) of a company whose production has been moved outside of Belgrade. The urban purpose of the Site is changed from industrial to primary residential and to a lesser extent to commercial development.

For more information about the real estate market in Belgrade and in Serbia, please visit our web page “Property prices in Serbia-the market, trends and yields on investments in real estate”.

Bidding process schedule and events

Schedule of events
Event Date
Bid invitation publishing date 29/06/2022
Bid documentation purchase deadline (€500) 25/07/2022
Site viewing last date 27/07/2022
Public bidding date 01/08/2022
Assets valuation by insolvency practitioner (our note: valuation
is from 2018, asset prices went up since then)
Bid starting price (reserved price) €26.000.000
Deposit €4.497.209


The Site is a huge area of 7,3 hectares, for primarily residential and some commercial content: residential buildings, shopping malls, hypermarkets, offices, hotels etc.

The Site has road access from several directions. The Belgrade-Zagreb motorway is also conveniently close as well as access road to the airport. There is various public transport available. Public utilities infrastructure such as water, sewage, electricity, Las etc is also available.

As it can be seen from the urban slides in the Gallery, the urban planning covers a larger area then the area of the site so that it is designed as a “city within a city”. However, the area outside of the Site is already developed with commercial content (a large supermarket and other retail), office buildings and some luxury residential buildings. The only undeveloped area is the Site. The main purpose of the Site is for residential development with some commercial content as explained below:

C8 (light blue area)-Residential multifamily developments on about 23ha, minimum 90% residential, maximum 10% commercial, about 3.350 apartments for estimated around 9.720 residents; Ground floor +6+attic

M4 (dark blue, part)-Mixed use developments, residential maximum 60%, commercial minimum 40%, maximum hight Ground floor+12+attic, about 3350 apartments for about 9720 residents

Commercial content-retail, restaurants, sport facilities, offices, numerous services, cafeterias etc

First phase
Second phase
Total ground space covered by
urban planning
72,7 ha 44,7 ha 28,0 ha 72,7 ha
Total ground space set aside for
64,7 ha 31,4 ha 28,0 ha 59,4 ha
Ground space for public buildings
GDA for public services (schools,
medical utilities and similar)
7.000 m2 23.250 m2 26.000 m2 49.250 m2
Total ground space for public
buildings and services
7.000 m2 24.250 m2 26.000 m2 49.250 m2
Ground space for commercial and residential development
GDA commercial 200.000 m2 - - -
GDA residential 10.000 m2 230.000 m2 270.000 m2 500.000 m2
GDA commercial 95.000 m2 335.000 m2 90.000 m2 425.000 m2
Total for commercial and
305.000 m2 565.000 m2 360.000 m2 925.000 m2
Total GDA under current urban
planning document
312.000 m2 589.000 m2 386.000 m2 975.000 m2
No of residential apartments 125 2.880 3.370 6.250
No of anticipated residents 325 8.355 9.775 18.130
No of anticipated workers 150 4.200 1.150 5.350
Average floor space index in m2 0,48 1,84 1,38 1,62
Average density of living per ha 5 265 350 305


The Site-a disused industrial site in New Belgrade which consist of urban land totalling 73.771m2, various buildings built on totalling 38.815m2 it and all machines, equipment and installations on the Site. As we explain further below, there is significant value in buildings and the movable properties.

The City of Belgrade authorities designated the Site in the Belgrade’s Detail Urban Plan (DUP) for redevelopment as a residential and commercial area compatible with other similar developments in the proximity. It should be noted DUP covers a bit larger area bordered with doted lines on the above picture. The Site is the dark and light blue area on the DUP.

As it will be seen from various maps on the following pages, in proximity there are luxuries residential developments, modern office developments occupied by predominantly international companies, shopping malls with multiplex cinemas, supermarkets and other retail shops, sport facilities, restaurants, cafés and other leisure facilities.

The Old Town and centre of Belgrade is about 15 minutes away by car and there is public transport available to various directions. The Belgrade international airport is about 15-20 minutes away too. The Site has road access from several adjacent streets. The Belgrade-Zagreb motorway is also conveniently close as well as access road to the airport. There is various public transport available to the future residents, workers visitors to buildings and facilities that will be constructed on the Site.

Values and benefits on the Site

The buildings - there are 38.815m2 of industrial buildings on the Site. The future developer will not be obliged to pay the development tax to the City of Belgrade authorises facilities for 58.223m2 of the future residential construction (38.815m2x1,5 coefficient). We will be able to provide the exact value of this savings in due course.

The movables - the Site was a manufacturing plant that went bankrupt several years ago. The business and trademark were sold to another manufacturer who will commence manufacturing elsewhere. The Site was sealed off to be sold in the bankruptcy proceedings. The machinery and equipment remained on the Site. There have been a couple of valuation of the movables on the Site. The value of the movables-is the value of the scrap metal that can be collected and sold to scrap metal dealers. we are aware of an unofficial valuation of the movables on the Site made by a scrap metal dealer in 2016. He estimated the quantity of 30.000 tonnes Fe, 2.000 tonnes Cu and 1.000 tonnes Al, with the total value of €15 million. This value, of course, fluctuates depending on the market price of these metals. We strongly recommend the buyer conduct his own independent valuation as the above valuation s were conducted at various times and for different purposes.


There are quite few office, retail and residential developments in the proximity. We mention few of them for illustration purposes.

  1. Belville residential development of 130.000m2, all sold out
  2. Delta City Shopping Mall
  3. A block - residential complex with 23 residential buildings and 2 commercial (retail) buildings, developed in 4 phases, 3 phases completed and sold out, the 4th phase is being sold for €2.700-2.800 pm2
  4. West 65 residential and commercial complex still being built with 514 apartments from 46-288m2 with underground garages, about 100 retail spaces and residential tower of 37 058m2 (39 floors) with apartment from 80-200m2
  5. Wellport - another brownfield residential development of 500 luxury flats GDA of 50.000m2, a €130 million investment by the Israeli developers Shikun & Binui Group. They are turning the pre-war airport hangers into residential units
  6. Airport City Office Complex - 186.000m2 office complex in the close vicinity
  7. Airport Garden - a 20.000 m2 site for mixed use development with a hotel
  8. Belgrade Waterfront-a well-known riverside development by Eagle Hill – 177 hectares development scheduled for over the next 20 years with about 1 million square meters of apartments and 750.000 m2 of office and retail space. Selling prices reported between €2.500-7.100 pm2.

Future developments

Type and style of residential and commercial buildings that can be developed on the Site can be observed from the developments mentioned above. However, all developers tend to develop high end luxury apartments because New Belgrade attracts many highly paid educated people such as bankers, IT professionals, consultants, entrepreneurs and similar who create continuing demand for such properties. Images of some planned and or completed residential developments are shown in the slide show below.

Further info

The Site is offered for sale by a bankruptcy practitioner. We highly recommend the buyer to carry out thorough legal, urban and other due diligence of the site and to prepare financial analysis of the future project. The buyer will also need guidance through the bidding process. We can offer a range of services to assist the buyer in this acquisition.

  • “One stop shop” acquisition advisory (financial, legal, accounting, environmental due diligence etc) through our long term and experienced partners in their respective fields of expertise
  • Due diligence
  • Valuation, financial modelling, investment risks and returns
  • Preparation of the bid and bit submission
  • Local acquisition process management from start to completion
  • Raising post acquisition finance for the Site development
  • Post-acquisition assistance in bringing the acquired Site to its full potentials and profitability.


SEECAP is a corporate finance, hospitality and real estate finance advisory boutique since 2001 that operates from Belgrade covering Serbia, Montenegro, North Macedonia, and Bosnia-Herzegovina. We provide cross-border services to a variety of international and local clients.

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