+381 11 2686707
Đure Jakšića 3
11000 Belgrade, Serbia
Airport City Belgrade (ACB) is owned by Africa-Israel Corporation and Tidhar Group, one of Israel's most successful construction companies. They came to Serbia around four years ago to explore real-estate business opportunities, already having in mind the introduction of something different from the standard office building.
Developers normally identify a piece of land, acquire it, build on it and then lease or sell the property. However, our approach is to build a complete modern business and residential complex beyond the boundaries of the city center.
Airport City Belgrade is currently the biggest real estate development in Belgrade, with the first two buildings of around 20,000 sqm delivered in 2006 and another two of the same area to be completed in 2007. Altogether, it is a 126,000 sqm plot of land-the largest piece of land owned by a private company in Belgrade.
Prior to arrival in Serbia, our company had completed developments in Russia, Ukraine, Czech Republic, Poland, and Hungary. We chose Belgrade after a thorough research of all other major sites in the region. Apart from Ljubljana, which is already well developed, our research included cities such as Skopje, Zagreb, and Sarajevo. Among those cities, Belgrade seemed an apparent priority with its 1.5 million population, strong economic growth, rapid internationalization of business activities, and a highly developed construction industry.
I would also like to emphasize that Serbia boasts skilled and capable people and we are very satisfied with our Serbian staff performance and cooperation with local construction companies.
Our development is situated in the part of the city called New Belgrade, in the close vicinity of the International E-75 Highway. Due to the lack of parking space and traffic congestion, an increasing number of the local companies are now shifting their headquarters from the old part of the city to New Belgrade. I am confident that our company will be strong enough to face the rising competition in New Belgrade and erect a competitive real-estate development, not only in terms of standards, but also in terms of pricing. One of the advantages of the Airport City Belgrade development is its largest ratio of parking space in Belgrade.
We believe that in the future the Serbian economy will experience steady growth, and the number of cars per 1,000 people will increase significantly. Our customers will be mostly foreign companies coming to Serbia that appreciate Class A office space and the right environment for their employees, and know the advantages of being located out of the city center. We are very optimistic about the future growth prospects, otherwise we would not be ready to invest €120 million in Serbia.
Investors look for performance enhancement possibilities, and I see Serbia in terms of the future profit. At the moment, one can get better deals than those available in Serbia but conditions will certainly get better. Therefore, investors with long-term orientation could benefit well from great opportunities in this market.