Real Estate EN Volume 18

SERBIA IS GOING GREEN

Real Estate magazine covers all current real estate subjects as well as modern lifestyle topics such as architecture, design, fashion, art, travel, gastronomy, and prestigious fresh new releases. The magazine was established in 2016 and is published on a bimonthly basis.

DIRECTOR

Vladimir Popović vladimir.popovic@realestate-magazine .rs

EDITOR-IN-CHIEF

Gordana Knežević Monašević gordana.km@realestate-magazine.rs

ADVERTISING SALES DIRECTOR

Jelena Randjelović jelena.r@realestate-magazine.rs

ADVERTISING MANAGER Dragana Radović dragana.r@realestate-magazine.rs

ADVERTISING MANAGER Jovana Marković jovana.m@realestate-magazine.rs

ART DIRECTOR Ilija Petrović IndigoChild indigochild.ilija@gmail.com

EDITORIAL OFFICE Jovana Nikolić Petra Vasiljević Petar Dobrosavljević Ana Kralj

PROOFREADING Tamara Djokić TRANSLATOR Jasmina Djekić Aleksandra Ristić +381 11 4320 501 redakcija@realestate-magazine.rs

PRINTING Zlatna Knjiga Jagodina Bagrdanski put bb, Jagodina

PUBLISHER West

The specter of the energy crisis has loomed over Europe and the whole world. They say that we are facing one of the most difficult winters and that we will have to get used to numerous restrictions in every sense. While countries around the world are adjusting to crisis scenarios, experts warn that the energy crisis is a wakeup call for all of us to take seriously how necessary it is to fundamentally change our mindset and turn to sustainable solutions. And that in the real estate industry means that we have no future without green construction, renewable energy sources, and sustainable systems that enable maximum energy efficiency. This is also the reason why we dedicated the September issue to this topic, in an attempt to explore whether Serbia is truly ready for an urgent and capital transformation of the construction sector, which will not be possible without mass acceptance and implementation of contemporary green building standards.

I admit that we started the preparation of this issue with a dose of skepticism that in Serbia, despite the intense construction activity, there is more talk about green construction than it is being implemented. Among other things, because green building standards are not yet obligatory for investors by any law, regulation, or norm. However, as soon as we scratched the surface, we were fascinated by how far the market as a whole has actually moved in the direction of a sustainable building concept. Perhaps even more than we are aware of the necessity of green construction at the level of society, and much further than the number of buildings with green certificates indicates. Large investors have long since started capital projects without implementing the most modern sustainable solutions, supported by the modern conceptual solutions of domestic architects, for whom green architecture is a true measure of the challenge to stand side by side with world-class colleagues.

This important green turn was accompanied by increasingly strong financial support from banks, as well as numerous companies with a wide range of products for use in construction that meet the highest technical standards. Perhaps we were most pleasantly surprised to see that the green building concept is becoming a trend among smaller investors who have no shortage of ideas for increasingly attractive projects throughout Serbia.

In this issue, we present to you some of the most significant green building projects that can and should serve as an example of how modern projects are approached, first of all, responsibly. Some of these projects have been completed and opened this month, which otherwise passed in light of important green topics—the second OIE Serbia conference, which gathered experts from the region and once again highlighted the fantastic potential of Serbia for the production of clean energy, as well as World Green Building Week, which was marked by the Green Building Council of Serbia with a two-day conference, Days of Good Practice, in cooperation with the Chamber of Commerce of Serbia and the Faculty of Architecture and Faculty of Civil Engineering in Belgrade.

It was a special honor for us to speak with the ambassador of Egypt, Mr. Bassel Salah, who opened up a completely new perspective through which we should look at this friendly country and one of our favorite tourist destinations. The green building lessons that we can learn from the example of Egypt are more than valuable, and the willingness of both countries to raise the level of economic cooperation paves the way for some new and interesting investments in the domestic real estate market, about which we will write in the following issues.

Yours...

BELGRADE RESIDENTIAL MARKET: NEW PROJECTS AND RISING PRICES

The Serbian real estate market recorded great activity in the first half of this year. This resulted in a record monetary volume of 3.6 billion euros, which is 25% more than in the same period in 2021, according to the report of the Republic Geodetic Authority (RGA). The most money was invested in properties in Belgrade, 1.9 billion euros, of which 1.2 billion euros were invested in the purchase of apartments. The increase in apartment prices in Belgrade is also noticeable: the average price in new buildings reached 2,300 euros per square meter, while the average price per sqm on the secondary market is 1,800 euros. The most expensive square meter in the new building, at a price of 9,545 euros, was sold at Belgrade Waterfront. When it comes to the secondary market, the highest price per sqm, 4,902 euros, was paid for an apartment in the municipality of Stari Grad.

In the first half of the year, construction activity in the housing sector in Belgrade was also intense. With the completion of several capital projects, the market is enriched by more than 1,000 apartments. Since the beginning of the year, the Petica project in Block 63, the second phase of the Wellport complex, and the first phase of the Zepterra project in Block 65 have been completed. In New Belgrade, the residential-business complex Kennedy Residence was also recently completed, as was the Bežanija Plato on the Bežanijska Kosa. In Dorćol, the second phase of the K-District project has been completed and the third has begun. Construction of the Depo Residence project has begun on Zvezdara, near the Vukov spomenik, and the Vojvoda Residence project is being built on Voždovac. Also, the construction of the first phase of The One project in New Belgrade is underway.

K-Distrikt

Kennedy Residence

Wellport

Zepterra

THE FIRST HYATT HOTEL IN MONTENEGRO NEXT YEAR

The Blue Kotor Bay Premium Spa Resort in Stolivo will become the Hyatt Regency Kotor Bay from June next year, which will be the first hotel of this American brand in Montenegro. Hyatt Hotels Corporation operates in 71 countries and has under its management 1,150 hotels worldwide. The Hyatt Regency Kotor Bay will have 250 rooms and suites, a spa and wellness center, a health and well-being center, a hotel beach, an outdoor pool complex, as well as several restaurants and bars. It is believed that the entry of the Hyatt brand into the Montenegrin market will attract new investors from the USA. Kotor Bay Premium Spa Resort was opened in 2020 and very quickly managed to impose itself with its unique concept, good location and service. Most of the guests were from Great Britain, Germany, and the region.

RIMAC IS JUST A STEP AWAY FROM THE ROBOTAXIS CENTER

The Zagreb City Assembly will soon announce a public tender for the construction of infrastructure in Trešnjevica, on the green area near the “Stjepan Radić” student dormitory on the Sava River. On a plot of land with an area of 9,000 m2, Rimac Automobili plans to build a Mobility Center – a park, a square, warehouses and filling stations for electric and self-driving taxis, so-called robotaxis. Although the tender will be open to all offers, it is assumed that Rimac Automobili will give the best one, which will be the first step towards the realization of this futuristic idea, which, when the project is completed in 2024, would make Zagreb the first city in the world with a network of self-driving taxis. The holder of this project, which includes a fleet of 700 robotaxis, is the company Project 3 Mobility, whose co-owners are Rimac Automobili and the South Korean KIA. The project will also be financed by EU funds.

The future Mobility Center model

The Marina Dorćol residential and commercial complex, whose construction should begin this year, has attracted more public interest than any other recent project. Announced as the future most exclusive quarter in Belgrade, located on the very embankment of the Danube river, Marina Dorćol continuously provokes fascination, both because of its location and its architectural solution, which will make this complex distinctive from any other in Belgrade, including those considered to be luxurious and exclusive. Czech investor SEBRE, who stands behind this project, is currently developing several other real estate projects in Belgrade. We talked to Tomáš Klíma, SEBRE Services Serbia CEO, about what makes Marina Dorćol unique and how this section of the Danube embankment will appear in a few years, once the modern architecture and design blend with the surrounding natural environment and historically significant structures.

The Marina Dorćol project has drawn a lot of attention due to its location and architectural design, which will profoundly alter the look and function of this city area. Some people call it “another Belgrade Waterfront,” while others highlight its “organically shaped architecture” or refer to it as an innovative green area that will one day be the most luxurious district of Belgrade. How would you describe it?

— Marina Dorćol will be the most beautiful residential area in Belgrade. It may sound biased or even ostentatious, but it is true. It is both a great honor and a tremendous responsibility for us to develop this part of the Danube embankment at such a specific location – a few steps from the historical centre of the city, but at the same time on the bank of the river, which represents one of the symbols of Belgrade. We dedicated a lot of time and effort into the project and the aesthetic solution alone because we are building on the very location

MARINA DORĆOL WILL BE THE MOST BEAUTIFUL AREA IN BELGRADE

„It may sound biased or even ostentatious, but it is true. It is both a great honor and a tremendous responsibility for us to develop this part of the Danube embankment. We dedicated a lot of time and effort into the project and the aesthetic solution alone“, says Tomáš Klíma, CEO of SEBRE Services Serbia

By: GORDANA KNEŽEVIĆ MONAŠEVIĆ

Photo: SEBRE

that represents all that is best in the building traditions of this city. The Kalemegdan fortress, with its centuries-old cultural and historical heritage, the 1930s architecture and art – an epoch so important for Belgrade that even today represents a connection with Europe, and especially the once very modern power plant, built in the famous European Bauhaus style, but which, unfortunately, lay forgotten for decades – make up the framework within which the inspiration for our project was born. The proximity of the water and the promenade on one side and the line park on the other side are obviously invaluable advantages of this location. At the same time, they carry with them great responsibility, as well as an opportunity for us to demonstrate how SEBRE can contribute to the development of Belgrade.

This project will be distinctive not only because of its architecture, which is what we are well known for, but for the overall approach to the development of a residential area in

the centre of the city: from reconstructing the historically valuable buildings, creating a connection with modern design buildings and incorporating them into the overall setting, to particular attention paid to every detail, which, put together, makes a gracious and completely different totality. The citizens of Belgrade will love this place, and not only those who will be lucky enough to live here.

What innovation and uniqueness does this residential and commercial complex bring to Belgrade?

— I would primarily emphasise the building concept with a completely distinctive basic post, in complete harmony with the location and its natural advantages and disadvantages. Based on that, that subtle blending with the area, we established the foundation for creating several levels of urban life in Marina without disturbing the harmony of the terrain. Our architects refer to this as “overspilling of interior into exteri-

or”, an organic connection of residential units with nature and the river that provides future residents with environmental harmony without sacrificing modern life necessities.

Parking spaces and all other elements required for the provision and almost invisible maintenance of such a residential building are concealed beneath the ground and in the postaments. We will make gardens on the plates of the postaments, which will climb vertically, lining upwards. This makes it possible for us to offer what we consider the utmost luxury living – to have direct access to your own luxurious garden from your living room or bedroom, while at the same time having at your disposal all the amenities of contemporary urban life, just two floors below. A quay for walking or recreation, bicycle trails, ground floors with restaurants and cafes, piazzas and service shops, top-class shopping, cultural programmes, and parks with voluptuous greenery and drinking fountains for refreshment – all this makes Marina Dorćol a true oasis amidst the city havoc.

The same principle applies to apartments at higher levels. Each of them will be encircled by a generously proportioned terrace, equally embedded in luxurious, cultivated greenery. In this way, we create a desired atmosphere and a strong impression in every apartment in Marina, that although you are living in an urban neighbourhood, the quality of living equals that in a private house.

The quality of the view from the Marina Dorćol apartments is another thing I want to bring up. Developing a project’s commercial element is obviously crucial. However, we work hard to strike a balance between capacity and quality. The architecture of the narrower, lower, and rounded buildings along the river allows us, by arranging them carefully in a dotted pattern, to prevent them from blocking the view, vista, and exposure to the sun of the neighbouring buildings. In this way, the apartments in the wave line curved building in the central zone will have a view of the river and the line park, and out of the 650 apartments we have on offer, as many as 452 will be situated at the corners, having a view in three directions.

One of the greatest attractions of the Marina Dorćol project is the greenery, considering it will cover more than 40 % of the whole area, 27,000 sqm exactly, including the green terraces and roofs of the buildings. Is it really going to be the greenest residential area in Belgrade, and how will the green terraces and roofs be maintained throughout the year?

— Greenery occupies a special place in our architecture and has several important functions. It plays a crucial role in creating a suitable atmosphere in the apartments; it makes shades on terraces and provides privacy. On the ground level, near the gardens, it creates common areas for living, while in the interior of the residential area, at the street level, its function is to regulate moisture, create shades, and provide cooling.

Our buildings are widely known for their roof terraces. For

example, the roof terrace on the DRN building in Prague, right near the National Theatre, has become one of the most recognizable symbols of the Czech capital’s architectural landscape. Trees were planted there, lawns are real, and they provide the residents with a special oasis of peace and beauty in the very centre of the city. Whether it is about the selection of trees for the roof, greenery for terraces, alleys on the streets, their cultivation and irrigation, we spent years acquiring and refining our knowledge in our earlier projects. And now, we bring this know-how to Marina Dorćol.

Maintenance of the green areas, as well as the overall management of all facilities, will be controlled by SEBRE. In this way, we will be able to provide long-term guarantees for the project’s quality.

This residential area will consist of 15 buildings with 650 apartments that will feature cutting-edge residential technology. Apart from the fact that these apartments are of modern design, with windows reaching to the floor and surrounded by balconies resembling Japanese gardens, what else does this technology imply? — The foundation of our designs is always uncompromising functionality. Everyone who lived in or used the space created by SEBRE always emphasises its fantastic functionality. A good design implies ease and intuitiveness in use. When designing our apartments, we place equal emphasis on the living room’s uninterrupted long view and the proper proportions of all other rooms, from bedrooms to closets. This considerably increases the quality of life. The technological solutions we choose are in line with this principle and they contribute to the overall experience of comfortable living.

Just like with greenery, while implementing previous projects, we would always come up with better and better technical solutions, which will be used in Marina Dorćol. The list is quite long, but I would point out the floor heating and the

Tomáš Klíma, CEO, SEBRE Services Serbia

central cooling system based on the heat pumps and the exploitation of geothermal sources. This solution is energy and economically very efficient, and the residents will be able to control it by using the smart system. Another novelty are the air filters, which are built-in in every apartment; then spacious parking lots whose dimensions are 2.9 x 5.5 m; a central irrigating system; a central warm water supply; calorimeters and water meters for every apartment... All of these systems can be controlled online, giving residents the ability to monitor and control their costs in real time.

Marina Dorćol will be located in the vicinity of the future line park, while some parts of the Marina will continue to be in public use, such as the dock. The thermal power plant „Power and Light”, where the Nikola Tesla Museum is going to be transferred, is also in its immediate neighbourhood. The new building of the Faculty of Musical Arts is also expected to be there. How much has this environment, with its public and cultural importance, affected the uniqueness of the Marina Dorćol project? — Marina Dorćol is envisioned as an open-door residential area. Whether you live there or visit on a bicycle, a walk along the Danube, public transportation, or your own car, this area will exude hospitality to all Belgrade residents. When it comes to projects of this type, the worst thing for it would be to look like it fell from Mars to this location. The Marina Dorćol pro -

ject, which you see today in front of you, is, I believe, the 16th or 17th iteration that our architects have produced. The authors of the project, Stanislav Fiala and Jelena Kuzmanović and their team took time to carefully and thoughtfully consider the environment and the way in which the new buildings relate to the surrounding, with the idea of „5 strong facades“ encircling this space.

The “Power and Light” thermal plant provided special inspiration, with its pure, smooth and austere forms, which speak of its technical superiority at the time it was built. We are happy to hear of the plans for the reconstruction of this fantastic building, in which the Nikola Tesla Museum will be located. From our side, we tried to give our contribution to the delicate reconstruction of this building. The old crane will remain there as a memory and a reminder that everything can be turned into a game, because we intend to build into it a tiny bridge with a view towards the new city quarter, new port and further on to the estuary of the two famed rivers, and underneath we plan to make a new park. The crane is placed on a very important line from which there is an open view from the promenade park towards the future museum.

It is our great pleasure to develop synergy with the adjoining project of the new line park, which is, according to the plan of the Belgrade urbanists, being built along the old railtracks on the southern side of Marina. Linking the park with the Marina was complemented by placing two squares, em-

The ultimate luxury of living in Marina Dorćol: direct exit from the living room and bedroom to the luxurious garden

bedded between new blocks of buildings. The squares are harmonized with another prominent urban line, and together they form an important urban area along the path leading through the long park, offering a wide view towards the river and the port, which makes them correspond with each other, both visually and in terms of communication. We named this place Marina Gate. The impression of a gate is additionally created by the gentle sloping of the buildings towards the squares. There is another charismatic historical monument on this line, built for the purposes of the old power plant. We want to carefully arrange the old pump station, also built in the Bauhaus style, and we want to give it a new function worthy of the Marina entrance.

SEBRE has accepted the commitment to be one of the investors in the line park project due to the location where the new complex will be constructed. What have you done so far in relation to this?

— SEBRE financed the conceptual design for the construction of the line park, so the ball is now in the terrain of the city authorities in terms of obtaining all the necessary permits and realizing the project. We are strongly motivated to see the line park project come to life according to the envisioned plan, which was created by as many as 10 teams of architects. We think this is a fantastic idea. The line park will be one of the most picturesque landmarks in Belgrade, connecting several development locations along the Danube embankment. We are really looking forward to this realization.

Marina Dorćol represents the conceptual solution of the renowned Czech architect Stanislav Fiala and the Serbian architect Jelena Kuzmanović, which led to some assumptions that, after more than a century, the Prague and Belgrade schools of architecture are in synastry once again, introducing innovative architectural strategies. How did it happen that this tandem was given an opportunity to

RESIDENCE PUŠKINOVA

design the Marina Dorćol project, and where did they get their inspiration?

— Stanislav Fiala is a world-famous architect. All SEBRE projects are signed by him. The Marina Dorćol project’s conceptual solution exudes all of his architectural characteristics: traditional building forms, innovative material exploitation, one-of-a-kind details, light play, and unavoidable greenery. His buildings epitomize art, and that is the reason they have been awarded the most prestigious prizes in architecture, and today they represent distinctive architectural landmarks in Prague.

Fiala is a deep thinker. He has great respect for the spirit of the place where he creates his buildings, what we call “genius loci”. He had been enchanted by the Marina Dorćol location from the very first moment. He was the one to ask for an involvement of a local architect and identified Jelena Kuzmanović as the most suitable. Jelena is also a very serious and talented architect, a rising star. She was the first associate of the Proffessor Brana Mitrović for many years and developed a portfolio of impressive buildings during the time she worked in his bureau.

We are very excited about the cooperation between Jelena and Stanislav. The way their sensibilities complement each other results in a truly unique and beautiful project. I think, at this moment, nothing better than that could have happened to Belgrade in this sense.

Marina Dorćol’s investment is estimated to be worth 300 million euros, and construction of the six-year project is

In Belgrade, we realized the Residence Puškinova project. It is a residential building with 10 apartments. We have implemented this project for two primary reasons. We wanted to find out who are the contractors and artisans in Serbia that we can count on in executing our ideas, especially in implementing new techniques with natural concrete, materials like corten steel, wooden formwork, and untreated steel. We are very satisfied with the results in this respect. Another reason is that we wanted to show the citizens of Belgrade what it is that we bring to this real estate market. It is one thing to listen to stories and look at pictures, but it is an entirely different thing to see the achievement itself and be able to look at all the little details and contemplations that, taken all together, make this whole. Residence Puškinova has quickly acquired the status of one of the most beautiful buildings of this type in Belgrade. Its residents simply adore it.

THE FIRST STAGE OF MARINA DORĆOL WILL BE COMPLETED AND READY FOR A HANDOVER TO THE RESIDENTS IN THE FIRST HALF OF 2025

expected to begin this year. Are the budget and the deadlines still in line with the projected agenda, and when will the first residents be able to move in? Will the building be completed in phases?

— In general, we hold on to the foreseen pace of the project, which will be realized in stages. The first stage will be completed and ready for a handover to the residents in the first half of 2025. In terms of construction, this is a significantly more complex undertaking than the construction of a common residential area of a similar size. This is why its development will take a little longer. However, the future residents will be able to understand and appreciate the value of this.

SEBRE completed several outstanding projects in the Czech Republic, and a one-of-a-kind residential building in Senjak in Belgrade, Residence Puškinova. Which of your Czech projects do you consider the most representative?

— We find all our projects to be distinctive and representative of our values and emotions. This is plain to see in how they were done. We built the DRN office building, which we mentioned earlier, in the street Narodni, in Prague’s central core of the city, which is under UNESCO’s protection. It is an inspirational office building that captivates you with its details and unique architecture. It is a modern building leaning on a 17th-century baroque palace, which now forms its integral part. It is a true masterpiece of architecture, not only in terms of restoration, but also in terms of a delicate and spiritual blending of the modern with the traditional. It took us six years to build it, with much consideration and attention. The building has become a unique Prague landmark, and we are very proud of that. It has received numerous accolades, including being named the Czech Republic’s building of the year, receiving awards from the Czech National Heritage Institute, and being a finalist for the prestigious “Mies van der Rohe” award. It is my sincere recommendation to visit DRN when in Prague. In the building’s courtyard, under the canopy of a sculpture built of burned stainless steel, you can enjoy a fantastic view of this unique architectural achievement while having coffee or lunch.

SEBRE plans to expand its investments and activities in Belgrade, considering the forthcoming construction of the Avala Filmski Park. We are also eagerly awaiting to see the conceptual solution for the so-called “Mitićeva rupa” in the Slavia square, which was purchased by you. How far did you get with this project, and what will actually be built in the area where the ‘Mitićeva rupa’ is located now?

— The appearance of the building to be located in the Slavia square will be decided upon by an international tendering process, as prescribed by the law. Of course, we do have our own ideas about what this area should look like. We will present the project within the tendering process, and we are working

on it very actively. As I already pointed out, the Marina Dorćol project you are looking at is the 16th or 17th iteration. Each of them represents a refinement or improvement of the previous idea, until we finally reached a result that we considered to be the best. This is how it works with all our projects.

The former Avala Film space has been neglected for decades and is thoroughly devastated. There is GIS-based planning going on: the green infrastructure situation is being mapped. All trees are mapped, canopy conditions are being recorded, as well as phytopathological changes. A detailed classification will be carried out as a basis for further considerations. This is a long process, but necessary in the case of Avala Film. Once it’s completed, we will be able to come up with a specific suggestion on how this area should be arranged. In any case, our further steps regarding the Avala Film will be an example of best practice in developing such an area in the city.

The Čertovo Bremeno Golf Club in the Czech Republic, SEBRE

DRN office building in Prague, SEBRE

Spork Palace in Prague, SEBRE

The new prestigious five-star Grand Plaza Hotel and Congress Centre in Ljubljana has recently opened. It is now the largest hotel and the third five-star hotel in the Slovenian capital. The 81-meter high tower block with 22 floors has as many as 354 rooms and apartments and ten conference halls that can accommodate up to a thousand participants. With this opening, the number of hotel rooms in Ljubljana increased by a tenth. In addition to standard services, the hotel also offers a fitness center, a swimming pool, private parking, a bar, and a garden.

THE NEW FIVE-STAR GRAND PLAZA HOTEL IN LJUBLJANA

THE PRESTIGIOUS KARISMA BRAND IS COMING TO ZLATIBOR

One of the world’s leading hotel groups, Karisma Hotels&Resorts, is opening its first hotel in Serbia in Zlatibor. The five-star luxury hotel, Bor Squared, by Karisma, will have 71 accommodation units, with additional facilities in a very luxurious residential area, which will be part of the hotel complex. The entire complex is designed to be completely integrated with the natural environment that surrounds it. The hotel will include a large spa and wellness center, three restaurants, a rooftop bar, and a cigar lounge. The opening of the complex is planned for the fall of next year.

H.E. BASSEL SALAH

FOURTHGENERATION EGYPT

Dozens of new cities, which are being built across Egypt, feature the newest architecture, sustainable and green infrastructure, and are powered by renewable energy and smart technology, says H. E. Bassel Salah, Ambassador of the Arab Republic of Egypt to Serbia, in an interview for our magazine

Tekst: GORDANA KNEŽEVIĆ MONAŠEVIĆ

Photo: NIKOLA MITIĆ

If the pyramids are your first association with Egypt, then you are definitely living in the past. Or you haven’t been to Egypt recently. The capital transformation of Egypt, which has been intensively implemented in recent years in all fields and especially in the sector of the development of new cities, is already giving it the outlines of the country of the future. We talked about the new cities of the fourth generation, ambitious economic reforms, relations between our two countries, and potential Egyptian investments in Serbia with H. E. Bassel Salah, the Ambassador of the Arab Republic of Egypt in Serbia.

Egypt, which is now developing up to 21 cities around the country in light of the country’s anticipated population rise from 100 million to 180 million, has undoubtedly been the global real estate industry’s hotspot in recent years. Can this massive construction plan even be summarized in one answer?

— Egypt is implementing a number of mega projects, including dozens of fourth-generation cities across Egypt—from New Alamein and New Mansoura on the Mediterranean coast to New Luxor in the south of Egypt—during the past few years, aimed at modernizing the different areas within the country. Egypt’s new cities feature the newest architecture, built on sustainable and green infrastructure, and connected through multi-modal transport networks. These new cities are powered by renewable energy and smart technology.

An example of the new cities is the New Alamein, which is one of the most ambitious of Egypt’s smart cities, covering 50,000 acres and with a proposed

population of 3 million. It is being styled as Egypt’s “Gate to Africa” and combines tourist, residential and historic sectors. The city’s distinctive features include Al-Alamein Towers, a series of 170-meter skyscrapers which will be the tallest on the Mediterranean coast.

The New Administrative Capital of Egypt (NAC), which has been under development for seven years, certainly attracts the most attention. Has this high-tech city already come to life and what does it already include in terms of buildings and future landmarks?

— New Cairo capital city is located 45 KM east of Cairo covering an area of 170,000 acres. Regarding the unique geographical location, it is nearby the Suez Canal area, regional roads, and main axes. The population targeted during the first phase is nearly five million people. It is planned to transfer many ministries, embassies and government agencies to their new headquarters in the New Administrative Capital.

The NAC includes the areas of the conference centre, the exhibition city, the government district (including 18 ministerial buildings, a parliament building, a presidential institution building, and a cabinet building), the residential district (25,000 housing units), the airport, the medical city, the sports city, the central park and the entertainment city as well as the city of culture and art (122 acres, including Opera House, Music Theatre, The Capital Museum and the Central Library).

NAC will be a 100% smart city. How sustainable, energy efficient, and, in general, green, will it be?

— A new vision for urban living in the 21st centu -

ry is taking shape. The New Administration Capital (NAC) sits at the heart of Egypt’s smart cities program. Strategic communications, modern transportation systems and renewable energy supplies are central to the smart cities program. When it comes to infrastructure, plenty of work has been happening to connect cities. This is crucial for the transportation of people and business to ease and facilitate connectivity. What is happening now in transportation—high-speed lines, monorails, trains, buses—is a complete change. The same goes for energy, digital and telecommunications. The powering of the NAC and the new cities in Egypt will be made easier by Egypt’s progress in expanding its clean energy supply. Its Integrated Sustainable Energy Strategy has set a renewable energy target of 42% of total generation by 2035—rapidly going from “deficit to surplus” as an electricity provider.

Egypt will host the 2022 UN climate conference (COP27), in November in Sharm El-Sheikh. What is your country’s national climate strategy and

what are the main climate-related projects that Egypt has already undertaken?

— Egypt’s vision includes the importance of a united world in facing the climate change challenge through an urgent, ambitious, equitable, transformative, and holistic manner based on science and principles, aiming for a just transition to low-emission and climate resilient pathways and a sustainable future for all. There is an urgent need to shift from pledges and potential contributions to delivery and implementation through timely and holistic actions at scale. Internally, Egypt has initiated serious steps to apply a sustainable development model, at the heart of which lies adaptation to climate change. This model aims for government-funded green projects to reach 50% by 2025 and 100% by 2030. The sources of renewable energy represent around 20% of the energy mix in Egypt today, with the aim of upgrading it to 42% by 2035, coinciding with the rationalization of energy subsidies. To place these efforts within their institutional framework, Egypt has completed the preparation of a national strategy for climate change 2050,

Al-Alamein Towers, a series of 170-meter skyscrapers, will be the tallest on the Mediterranean coast

Photo: EGYPT PREMIUM PROPERTIES

which will pave the way for Egypt to update its Nationally Determined Contributions (NDCs) so that the policies, objectives, and measures encompassed in these contributions become integral to the state’s developmental efforts.

Egypt is one of the world’s fastest-growing economies, with predictions to become one of top ten global economies by 2030. What serves as the foundation of this ambitious economic growth strategy?

— Egypt started an ambitious economic reform program in 2016, including integrating social welfare programs and redirecting subsidies to the neediest categories of society who deserve them the most. In addition, the “Sustainable Development Strategy: Egypt’s Vision 2035” is a pivotal pillar of its economic growth. Egypt’s vision aims at achieving a balanced sectoral development with a main focus on multi-sectoral domains, among them the communication and information technology ICT.

The International Monetary Fund’s (IMF) consecutive reports showed a remarkable improvement in the economic conditions in Egypt since the beginning of the reform program, including the liberalization of the exchange rate, acceleration of growth rates, reducing the external and financial deficit, and increasing foreign currency reserves. In April 2022, Fitch affirmed Egypt’s rating at B+, praising its large economy with robust growth and strong support from bilateral and multilateral partners. More than 15% of the Egyptian economy is directly related to the construction sector.

Due to its strong economic fundamentals and the economic reform program adopted in 2016, the government was able to act swiftly to mitigate the im-

pact of the COVID-19 pandemic. Egypt was also the only North African nation showing a positive real GDP growth rate in 2020.

Egypt is considered the most attractive investment destination in Africa. What is the main focus of foreign investors?

— The government is working to attract investment in several mega projects, including the construction of the NAC, and to promote mineral extraction opportunities. Egypt is also capitalizing on its location bridging the Middle East, Africa, and Europe to become a regional trade hub and an investment gateway and energy hub, and hopes to attract information and communications technology (ICT) sector investments for its digital transformation program, in addition to the Suez Canal Economic Zone project, aimed at establishing a logistical and industrial zone at the Suez Canal.

NEW ALAMEIN IS ONE OF THE MOST AMBITIOUS OF EGYPT’S SMART CITIES. ITS DISTINCTIVE FEATURES INCLUDE ALALAMEIN TOWERS, A SERIES OF 170-METER SKYSCRAPERS WHICH WILL BE THE TALLEST ON THE MEDITERRANEAN COAST

Egypt is a party to more than 100 bilateral investment treaties, including with the United States. It is a member of the World Trade Organization (WTO), the African Continental Free Trade Agreement (AfCFTA), and the Greater Arab Free Trade Area (GAFTA). The mentioned Free Trade Agreements repre-

The New Alamein is being styled as Egypt’s “Gate to Africa”

The New Mansoura project

Photo: NAWY.COM

Photo: ESCGA.COM

sent great potential for companies interested in investment in Egypt.

The Government of Egypt has taken a number of measures during the past years to enhance the investment climate by simplifying procedures and laws for local and foreign investors, in addition to reviewing and amending old investment laws in line with the size of the capabilities and opportunities that Egypt can offer to foreign investors, which led to an acceleration of the pace of company establishment in Egypt.

For these reasons, Egypt was one of the fastest-growing emerging markets prior to the COVID-19 outbreak. Egypt was also the only economy in the Middle East and North Africa to record positive economic growth, despite the COVID-19 pandemic. Increased investor confidence and the reactivation of Egypt’s foreign exchange (FX) market have attracted foreign portfolio investment and increased foreign reserves.

Diplomatic relations between Egypt and Serbia are at an extremely high level, as evidenced by

the recent visit of Egyptian President Abdel Fattah Al-Sisi to Belgrade. What are the economic relations between our two nations, and where is the greatest potential for improved cooperation?

— The recent visit of H.E. President Abdel Fattah Al-Sisi, President of the Arab Republic of Egypt to Serbia, which took place from July 19 to 22, 2022, is considered an indicator of fostering our friendly ties and the keenness of both countries to give a strong push to bilateral relations in all spheres. The visit was not only historic because it was the first by an Egyptian leader to Serbia for more than 35 years, but also essential to lay a solid foundation for cooperation between many institutions from both sides to build and sustain a successful strategic partnership. The visit witnessed the signing of 12 Memorandums of Understanding covering many fields.

The visit witnessed the inauguration of both the bilateral business forum and the joint Egyptian-Serbian business council, which gave many Egyptian and Serbian businessmen the opportunity to discuss and discover the promising areas of cooperation and start a new phase of bilateral economic cooperation between Egypt and Serbia.

Both sides realize the great potential for economic cooperation between the two countries. Therefore, both countries seek to intensify trade relations by negotiating a Free Trade Agreement that will ease bilateral trade and increase its volume. As for the domains of economic cooperation, the most prominent domains include agriculture, construction and infrastructure, trade, ICT, etc.

THE GOVERNMENT OF EGYPT HAS TAKEN A NUMBER OF MEASURES DURING THE PAST YEARS TO ENHANCE THE INVESTMENT CLIMATE BY SIMPLIFYING PROCEDURES AND LAWS FOR LOCAL AND FOREIGN INVESTORS

Photo:

Photo: EGYPTTODAY.COM

According to the ambassador, the people of Serbia have profound respect for Egypt

How appealing is Serbia to Egyptian investors, particularly in the real estate sector, which has recently experienced rapid growth?

— Egypt has a number of construction companies that have shown great potential during the implementation of the ongoing mega projects in Egypt, both in the residential and infrastructure domains. These companies are well known for their abilities to deliver an ultra high-end quality outcome with low-medium costs and in a short period of time, taking into account that some of these companies implement projects abroad.

Due to the growing expansion of the construction market, Serbia is considered one of the outstanding residential markets for real estate investments during the current period. Thus, Egyptian firms will find the Serbian market appealing, particularly in light of the Serbian government’s policy of expansion and development, as well as the incentives provided to foreign investors.

Egypt is one of the moste popular travel destinations in the world, including for Serbian citizens. The tourism sector occupies a special significance for the Egyptian economy due to its high growth rates. Can you name some of the most significant new investments in tourism?

— The tourism industry remains one of the main sources of national income for any tourist country like Egypt, and as a result, Egypt always pays great attention to developing the tourism sector and welcoming local and foreign investments in this sector.

Egypt is listed as one of the first top destination in the travel plans of most travel agencies and adventurers not only because of its monumental sites but also its blissful climate throughout the whole year and its geographical location. Another advantage for travel and adventure lovers that can never be found in any other country other than Egypt is that it combines numerous types of tourism that will meet all the requests of any tourists. The most common type of tourism in Egypt is, of course, cultural tourism, which is related to visiting ancient monumental destinations to observe the timeless treasures of the ancestors. In addition, there are many other types that encourage travelers to select Egypt as their top destination, such as religious tourism, recreational tourism, medical tourism, desert tourism, eco-tourism, and diving and sea activities tourism.

You’ve been an ambassador in Belgrade for six months. How much did you manage to get to know Serbia and Belgrade so far, and what did you like the most?

— Since I arrived in Serbia in February 2022, I have visited a number of cities for both work and leisure, and I found Serbia to be an amazing country with astounding nature and many sights to visit. The most valuable treasure in Serbia is its people, and their hospitality, warm welcome and profound respect for Egypt. My family and I are spending an exceptional time in Serbia and in Belgrade. At the moment, we could not have hoped for a better destination to live in.

The new Parliament building in the NAC

Photo: SMARTCITYEG.COM

ECONOMIC BENEFITS ARE ON THE PART OF INVESTORS

There are currently 110 buildings with green certificates in Serbia. We asked Bojan Bogdanović, president of the Serbia Green Building Council, whether there could be more of them and how to promote green building as a key factor of the transformation of the construction sector

Although green building is becoming more and more present in Serbia and the number of certified green buildings is increasing, we are still quite far from transitioning to sustainable development of the construction sector. The current energy crisis has reminded us more than ever of the importance of energy efficiency and energy security, which can definitely be enhanced by more massive green building, but also improving energy performance of the existing building stock. The Serbia Green Building Council (SrbGBC), as a national member of the world (WorldGBC) and European (WorldGBC Europe)

Green Building Council, promotes green building through its activities at every level, encourages dialogue between the public and private sectors, as well as changes in legislation, and to see where we have arrived on that road, we spoke with the President of the Council, Bojan Bogdanović.

The term green building has been widely used in recent years, but it seems to be more part of the popular environmental narrative than actually present in practice. What do the data say: how many buildings in Serbia have a green certificate so far?

Photo: SrbGBC

Text: JOVANA NIKOLIĆ

GREEN BUILDING

BOJAN BOGDANOVIĆ, President of SrbGBC

— Globally, green building is gaining importance, and in our market, based only on the number of certified buildings, one could speak of an almost geometric growth. The first certified building in Serbia was registered in 2013, in the first quarter of last year there were 29 (LEED and BREEAM), and at the moment there are 110 certified buildings registered in Serbia (LEED 26, BREEAM 44, EDGE 40), with a large number of those thar are in the process of certification. We believe that our promotion of green building contributed significantly to this. Last year, the Serbia Green Building Council organized an event to support developers in the form of awarding certificates of appreciation to leaders who certified their buildings in the previous two years. We proudly point out that the largest number of them are actually members of the Council.

It could be concluded that this increase in interest in green building is certainly not only in the domain of the “environmental narrative“ but is a consequence of the recognition of economic benefits by developers. In the circumstances of the energy crisis and the war in Ukraine, increasingly intensive investment in energy efficiency and renewable sources in the buildings themselves not only brings significant energy savings, costs and benefits for the environment (due to the reduction of CO2 emissions), but also contributes to energy security. Nevertheless, despite the fascinating growth of interest in green building, unfortunately, compared to the total number of buildings built, this percentage is so small that it is not even worth mentioning.

Green building is not directly related to certification, but the implementation of green aspects is necessary if someone opts for certification. The bottom line is that credits awarded within defined categories are key to evaluating green building. The choice of type and variant of certification is free will, and results in some form of certification rating as a confirmation of green building.

How green a building will be depends on the approach, principles, methods and tools involved. Depending on how green you want to be, so many aspects of green you will implement (renewable energy sources, rainwater collection, implementation of recycled material, reuse, introduction of innovative solutions that reduce energy and electricity consumption, save water, green roof, smart systems in the form of sensors which regulate aspects of comfort...).

What kind of certificates exist and how much do they increase the value of the facility?

— There are very different forms of certification on a global level, but there are officially sixty of them administered by the World Green Building Council and which, as a national member of the same, we support by introducing our members to them (LEED, BREEAM, EDGE, WELL Health-Safety). The very growth of certified buildings speaks in favor of the fact that there are justified economic, environmental and social reasons for green building. Numerous studies confirm the justification of this kind of construction precisely for the reason of increasing the value of a facility. A form of green financing has also been activated in the construction sector, which requires confirmation in the form of a green certificate. Some of the developers in Serbia (our members) already have a positive experience in this in terms of significantly lower interest rates, not to mention the cost effectiveness during the use of such a facility. Although the value of the facility is mainly viewed through economic parameters, its environmental value is also important, as the ultimate goal of sustainable development – reduction of the negative impact on the environment by creating a resilient built environment. There is also a measurable positive impact on the end user, whether it is the business, commercial or residential sector. Specifically, by introducing smart systems (positive economic aspect and savings) that monitor and manage aspects of comfort, the quality of the interior space for the end user, the satisfaction of staying in such a space, as well as a positive impact on his/her health hereby increase.

Business Center Navigator 2, owned by MPC Properties, has the LEED Gold certification

How much can the price of green building be a factor that demotivates investors? Is a green building necessarily more expensive than an ordinary one?

— The greener the building, the more economically justified it is. If this were not the case, there would be no market demand for them. It is only a matter of the investor’s perception whether he bases his business on long-term or shortterm plans. In long-term planning, where the green building, during its life cycle, remains in the ownership of either the owner as the end user, or the owner who rents the space, it

is potent and there are no problems with sales. Hence, this trend of “demotivation“ will continue until the moment the market does not become more demanding, until price and location are not the only concerns, until future apartment owners when buying apartments do not include long-term planning in terms of future expenses that they will have during the use of it, that is, until they do not take into consideration the savings they can achieve.

In many EU countries, investors are obliged by law to abide by the principles of green building. Can you give us some examples of such practice?

— Within the World Green Building Council, there is a program called The Net Zero Carbon Buildings Commitment, which implies an even more advanced green building that leads to a zero energy and emission transition. So far, six regions and countries (USA, UK, Spain, Germany...), 28 cities around the world (London, New York, Copenhagen, Paris, Oslo, Sydney, Tokyo, Toronto...), as well as 138 organizations/companies have committed themselves to it.

is more than a cost-effective investment. Its higher initial investment is indisputable, but also the fact that they later have a facility that has lower operating costs during use and maintenance. For now, they are mostly represented in the commercial sector, which only confirms the strong motivation of business in turning to green building.

The situation is quite different in the residential area, where the plans are short-term and end with the sale of the investment immediately after construction. Although there are those, among the investors of residential buildings, who work to improve the quality and some aspects of green can be glimpsed (most often with a part of the green roof), the majority of them are not motivated for larger initial investments, because they do not encounter such demand; there is no motivation for more investment, because the market

At the European level, there is a binding directive for members, which refers to the aspiration of nearly zero energy performance of buildings, as a segment of green building. In Britain, BREEAM certification is mandatory for the public sector. Also, the practice for larger cities to require the certification of facilities that exceed certain square footage, precisely for the reason of their influence within the built environment, is growing worldwide; certification of green building in the context of reducing negative environmental impact is being insisted on. The influence of international financial institutions (EBRD, World Bank, etc.) and commercial banks, which, by providing stimulating financing conditions that promote green building, help the wider and more frequent implementation of green building principles in practice, is also very important.

MORE AND MORE FINANCIAL INSTITUTIONS ARE STRENGTHENING GREEN FINANCING, WHICH WILL CERTAINLY AFFECT THE CONSTRUCTION SECTOR AS WELL

Delta House, the new office building of Delta Holding, has been certified as a LEED Gold building

Immofinanz Stop-Shop retail parks in Serbia have a BREEAM certification

NCR K2 Business Center received the highest rating of LEED Platinum

What is the situation in our country when it comes to laws? Are there plans to adopt some binding regulations, for example, on the use of recycled construction waste?

— There is a mutual initiative and the Council has already had meetings with relevant ministries. There is a lot of potential for cooperation, and we are invited to make proposals in the area of legislation, but also to work even harder on educating all stakeholders and the public, because this is exactly the biggest challenge in green building. As a member of the Alliance for Green Transition, there is a certain membership activity of SrbGBC in that part, as well as engagement within the Proposal of the Circular Economy Development Program in the RS for the period 2022-2024. For now, the implementation of the circular model in the construction sector is at the level of individual engagement, in the form of the application of recycled material or reuse, and the role of SrbGBC is also here at the educational level.

Is the state considering introducing subsidies for companies interested in this type of investment?

— At the state level, green bonds have been announced, citing green buildings as a potential. Subsidies were also one of the topics at the SrbGBC meeting with the ministries, which confirms the state’s interest in developing that concept.

As per Serbia, certified facilities, many of which are owned by SrbGBC members (Ušće Tower 2, Delta House, Sirius, Navigator 2, Atrium, Stop-Shop, etc.), imply sufficient confirmation of interest in this type of investment. In order to remain neutral towards the members and faithful to our transparent approach, as well as open to various types of cooperation, we shall only cite as an example one of the most recently certified facilities, the NCR K2 Business Center, which received the highest rating of LEED - Platinum. Also, more and more financial institutions are strengthening green financing, which will surely affect the construction sector as well.

In Europe, there is a trend of renewing the existing building stock, in order to reach the modern level of energy efficiency. Is there an initiative to implement this on a larger scale in our country?

— In the conditions of the current energy crisis, the energy efficiency of facilities is one of the important aspects of green building and, at the same time, a current topic at the state level, considering the huge part of the building stock that is energy inefficient. The state provides incentives for energy efficiency and renewable energy sources, as do the international financial institutions and some commercial banks. Support mechanisms for commercial and individual residential facilities are becoming more and more available. The biggest challenge concerns multi-family residential buildings where, from an engineering point of view, energy rehabilitation is not demanding, but organizationally it is very complicated due to tenant agreements, obtaining permits, supervision of

FOR NOW, THE IMPLEMENTATION OF THE CIRCULAR MODEL IN THE CONSTRUCTION SECTOR IS AT THE LEVEL OF INDIVIDUAL INVOLVEMENT, IN THE FORM OF APPLICATION OF RECYCLED MATERIAL OR REUSE

works... The Ministry of Mining and Energy, EBRD and USAID are mainly working on the development of energy rehabilitation projects for residential buildings.

How aware are we that the traditional way of construction, and even the buildings we live in, are not sustainable and will not withstand the challenges of climate change in the future? How does the Council carry out its mission of raising awareness, both of investors and citizens?

— The entire activity of the Serbia Green Building Council is subordinated to the goal that aspects of green building are recognized as key factors of the transformation of the construction sector and the built environment. Essentially, the goal of the transformation is to neutralize its negative impact. All events of the Council are for the purpose of information and are educational in nature, whether talking of professional conferences, activities intended for the general public, as well as work with the youngest, through webinars, projects and other activities, which you can find more about on the website of the Council www.serbiagbc.rs.

One of the forms of membership activity is the engagement of the SrbGBC working group in the ETF competition and the expansion of the campus of the technical faculties, within which, for the first time, aspects of green building are required in the competition program for a public purpose building.

BUILDING MIRKO UROŠEVIĆ, Owner and CEO, IMEL Group

GREEN ESCAPE: THE CROWN OF THE DEVELOPMENT OF THE NEW, NEW BELGRADE

K3, the first building of the new Green Escape business complex, has just been completed and is ready for tenants. We talked to the owner and CEO of the company, Mirko Urošević, about its unique symbiosis of modern architecture and nature, as well as other iconic New Belgrade projects that have written the history of IMEL Group

By: JOVANA NIKOLIĆ

IMEL GROUP

Photo:

GREEN

Photo: Goran Zlatković

Ever since the IMEL Group made preliminary design of the Bežanijska kosa settlement in the early 80s, the company has not stopped with its mission of an innovative approach to the development of New Belgrade, which they have just crowned with the first completed building of the new urban Green Escape business zone. What makes this complex unique, how innovative it is, what standard of office space it offers to future tenants, and what are the company’s further plans for the development of new, New Belgrade, Mirko Urošević, owner and CEO of IMEL Group, says in an interview for our magazine.

The opening of the K3 building, as part of the Green Escape project, was welcomed with great impatience – not only because every square meter of office space in New Belgrade is grabbed in advance, but because it is a technologically advanced building of contemporary architecture. What would you single out as the greatest qualities of this facility?

— As the initial part of the Green Escape business district, the K3 building was designed and carried out in such a way that it corresponds in all respects to modern business. Located in the greenery, it represents a unique symbiosis of modern architecture and nature, providing future users of the office space with comfort and functionality through a perfect combination of quality and carefully thought out design. High quality construction, technical systems according to the latest standards, predominantly glass surfaces on the facade and windows that open in all offices, as well as carefully designed additional facilities that will provide future company tenants with numerous benefits, were an imperative during the design phase.

What level of office space and supporting amenities may users of this facility anticipate?

— All business facilities within the complex are planned in class A. Respecting the highest standards and business principles, and thanks to decades of experience, we focused our attention on the improvement of technical systems, especially when it comes to the ventilation and airing systems of the building, emphasizing a healthier working environment. Given the various market demands and requirements as well as the altered circumstances of the previous years, this was one of our top priorities.

The flexibility of the business space, which can be altered and tailored to different stages and requirements of business operations, is more impor-

tant than ever when it comes to choosing the ideal office space. Tenant companies have the option of organizing the work space in accordance with their needs and business development thanks to the flexible space organization option, which is available in the complex’s first phase and ranges in square footage from 505 m2 to 1,580 m2 on five floors, with a total area of 14,000 m2.

Green spaces and fountains will enable staff to take a break from work and enjoy the outdoors, while the spectacular entrance portal and lobby with a double floor height provide a notable effect.

The Green Escape project is most often presented as New Belgrade’s new business oasis. Can you give us some more information about the entire complex?

— Green Escape is a business complex located in New Belgrade, in block 51 (zone K), next to the M1 (E75) highway. It is in an excellent location, surrounded by greenery, on the edge of the urban zone, well connected by transport links to the city center, only 5.5 km away, and in the immediate vicinity of the airport – urban green environment.

Green Escape is a project that will become a synonym for a modern, contemporary, technologically advanced, but at the same time healthy, rational, sustainable work environment tailored to the modern man, which represents a step towards the future in the development of the business environment in our area – a “New, New Belgrade“.

The conceptual approach to the composition, landscaping and design of this space is reflected in the combination of greenery and natural organic materials, on the one hand, as well as the recognizable urban atmosphere of the Soho style, interpreted through the organization, form and materialization of open spaces and the facilities themselves that form this district – urban organic concept.

All three buildings in this complex are designed as modern, technologically advanced and functional business premises, which, within their capacities, can quite flexibly accommodate various program contents within the framework of commercial activities and meet all the specific requirements of future clients. In this way, the client gets a business premise tailored to his own needs – technology advanced tailor-made space.

What are the plans for the further development of the Green Escape project and what will the project ultimately offer when it is completed?

— Green Escape is made up of three plots that are

designed for business and commercial use, in which the construction of multifunctional business facilities is planned, and which are fully equipped with infrastructure for these needs. The entire complex is being developed as a new business center, which offers many benefits and additional values compared to the standard offer of office space in Belgrade. The arrangement of this space is conceived as a new city business zone – a business district – with a wide range of offered content, which in addition to the business space itself within the three buildings, offers compatible hotel facilities, business apartments, conference rooms, offices for rent, a spa center with a swimming pool and all

the accompanying facilities, sports facilities and fields, running tracks, babysitting services, shops and services, and more. The very ambiance and surroundings of this new business district represent a new city corner with a landscaped square, decorative greenery, water surfaces, fountains and lots of open and closed space for sitting, relaxing and informal business, which is in operation throughout the year – a new modern multifunctional business district.

After the K3 building is completed, we intend to complete the multifunctional K2 building in 2023. Within this building, we have plans for a four-star hotel, additional retail and catering spaces, and additional office space for rent. In the meantime, parallel negotiations are taking place with a reputable foreign company for the custom construction of a business building on plot K1.

Both residential and commercial projects that have been completed by IMEL Group make up an exceptional portfolio. Which of your examples of both constructions would you say is the most illustrative?

ALL THREE BUILDINGS IN THE GREEN ESCAPE COMPLEX ARE DESIGNED AS MODERN, TECHNOLOGICALLY ADVANCED AND FUNCTIONAL BUSINESS PREMISES THAT CAN MEET ALL THE SPECIFIC REQUIREMENTS OF CLIENTS

Green Escape, building K3: the authors of the conceptual design are Anja Ivana Milić and Miloš Petrović from Arhi.pro studio

— Given that we treat every project with the same dedication, it is a pretty tough question, but I believe that when it comes to residential space, we can single out the building at 48a Bulevar Zorana Djindjića, which still stands as a benchmark after 16 years. Our Head office building at 2a Bulevar Zorana Djindjića, which stands as a sort of memorial to the growth of this boulevard, which we launched in the early 1990s, takes the top spot among office buildings. The first section of the boulevard was then constructed at IMEL’s initiative and expense; it is now known as New Belgrade’s main street.

The building and outfitting of facilities to meet the requirements of the expanding domestic IT sector is a unique aspect of your portfolio. How important is it to you that a part of your company deals with IT technology and offers services for developing software solutions?

— Cooperation with colleagues from our company’s IT sector is of great importance, both in the planning of new facilities, and in the provision of high-quality service in the matter of renting office space and providing accompanying services – services in daily business, but also in constant expansion, additional equipment and reorganization of space. It is very interesting that more than 60% of our tenants are from the IT industry, which, through the very rapid development of new technologies, sets new standards in terms of built-in systems, modularity, the required scalability of energy capacities and technical characteristics for each new project.

It is interesting that you carried out almost all the projects in New Belgrade, especially at Bežanijska Kosa. Why? What is so special and attractive about

New Belgrade compared to the old part of the city?

— The answer to your question is defined by our favorite slogan, “New, New Belgrade“, which briefly describes the product of our work. From the very beginning, IMEL has been the initiator of new ideas for the development of the construction of New Belgrade. At the beginning of the 80s, we managed to convince the urban planners of the time to have the then imagined border - Tošin Bunar Street – be moved, when the first preliminary concept of the Bežanijska kosa settlement – “ Srem 51“ was developed. It was created by our experts, in cooperation with a large number of New Belgrade companies, which needed to solve the issue of quality housing for their employees. We are proud of the fact that we planned and designed the first phase of the realization of Bežanijska kosa, that is, some 2,000 units, which created the preconditions for further implementation, which began in the mid-80s and is still ongoing. Within the scope of this accomplishment, IMEL constructed several dozens of buildings, more than 150 residential units, two shopping malls and 18 business facilities at Bežanijska Kosa, according to the turnkey system. The Green Escape complex, within which we are opening the first completed building these days, represents the crown of development and the flagship of our rental portfolio.

The New Belgrade market gave us the chance to raise the standard through the planning and development of commercial and residential buildings in Block 21, which coincided with the completion of the Bežanijska kosa residential area and the business-commercial zone of Block 51. As a result, we left behind a number of reference buildings that are still significant landmarks in this area today. Realizing the need to improve the commercial supply in the area of New Belgrade, we initiat-

Office building built for the HQ of Societe Generale, now OTP Bank Residential and business building, 48a Bulevar Zorana Djindjića

ed the idea and built several mini-shopping centers in Block 45, Block 70, Block 30 and Block 3, as well as the Greek-Cypriot center in Block 24, Shopping Center Perper in Block 1, etc.

Few domestic companies have endured and grown into major players over the most difficult decades of our market’s transition, but IMEL Group has done so during the past 40 years. What is your formula for success, and how do you handle competitive foreign investors?

— Through our business, we work to ensure that our decades-old domestic business strategy is not jeopardized by the adoption of new business trends. At the same time, we constantly seek out fresh information and assist emerging young forces because the future is in their capable hands. We are proud of the fact that within the company we have several examples of employees who come from the same family but of different generations, and we look forward to

the third generation joining and bringing more new ideas and energy. We believe that it is necessary to maintain tradition and reputation, and we are proud of the fact that our name has been used as a synonym for quality construction for five decades. We respect our environment, and we especially respect our competition – foreign investors, we try to learn new knowledge from them through every project – theirs or ours.

Recent crises have had a significant impact on the construction and real estate markets. How did you manage this year’s supply and pricing of building materials?

— I believe that in order to solve these issues, careful planning, precise forecasting of requirements, quantities, and deadlines, as well as prompt procurement – which remained possible thanks to the network of subcontracting businesses we have successfully worked with for years – are essential.

How do you see the further development of the real estate market?

— We anticipate that the recent trend of improving the business climate for investors will continue on our market, and that Belgrade will continue to receive more projects of this quality.

WE ARE PROUD OF THE FACT THAT OUR NAME HAS BEEN USED AS A SYNONYM FOR QUALITY CONSTRUCTION FOR FIVE DECADES

Head office building of IMEL Group

DELTA HOUSE: BEAUTY, FUNCTIONALITY AND SUSTAINABILITY

Delta Real Estate is one of the largest investors in the region and a new member of the Serbia Green Building Council. Projects realized by Delta Real Estate combine beauty, functionality, and extremely high environmental sustainability, driving important changes in the construction industry

Text: JOVANA NIKOLIĆ

Photo: DELTA REAL ESTATE

DDelta House, one of the first office buildings in Serbia with LEED Gold certification, is a part of the Delta Real Estate portfolio. It is a class A office space, located within the central business zone in New Belgrade. During the construction of the office building, the investor insisted on adhering to contemporary trends of environmentally friendly construction, both

in the use of materials and in the implementation of highly efficient systems and the introduction of innovative technological solutions. The principles of green building and the continuous implementation of innovations required the observance of professional standards from planning, design, construction, and maintenance to the use of the building with a number of eco-friendly solutions.

•

LIGHTWEIGHT CONCRETE STRUCTURE

The UNIDOM plate system was applied for the first time in our market. It is a modern system of lightweight floor concrete structures based on the installation of balls made of 100% recycled plastic, which reduces the emission of CO2 into the air.

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BUILDING ENVELOPE

The facade system of the Delta House building was selected to ensure maximum thermal and sound insulation. Profiles with enhanced thermal characteristics, a typical glass package, filled with argon in between, as well as high-quality internal and external glass, make this facade assembly look very good.

•

GREENING OF THE BUILDING

Following the model of European capitals, green oases around the building and on the roof have given this building a strong sense of modernity and distinctiveness. The selection of plant species was made on the basis of the WUCOLS list, so that all selected species fall into the category of LC plants, i.e., plants that require minimum amounts of water. Water control is also possible through the “drop by drop” watering system of all green areas, which cover over 1,300 m2.

•

BIPOLAR IONIZERS FOR AIR CLEANING

High indoor air quality is made possible through a bipolar ionization solution. This solution restores and balances natural ion levels indoors while also leading to energy savings in the HVAC system.

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SOLAR PANELS

The level of environmental pollution, which has been increasing dramatically in recent decades, has largely contributed to the growth of the solar energy market. It is a renewable energy source that is expected to become number one in the field of green electricity generation technology by 2050. The partial needs of the office building of about 23,000 m2 are met by the installation of solar panels.

• NATURAL MATERIALS

Environmental awareness is also present in the interior design of this office building. The inspiring architectural design provides a very pleasant place to work, with excellent office space and views of the surrounding area. Natural materials, elements and furniture made of recycled materials were selected, creating a healthy microclimate in this space.

SOLAR PANELS TO BE INSTALLED ON THE SAVA CENTER

A comprehensive approach, the development of professional staff, as well as the continuous introduction of new technologies and environmental solutions, represent the basis of Delta Real Estate’s successful business. With every new project, the company pushes the boundaries and raises the bar on the construction scene. There are already clear indications that the last project started – the reconstruction of the Sava Center – will have solar panels installed upon completion of the works, as well as a number of other solutions in line with the international construction standards.

GTC X IS A NEW LANDMARK IN THE SERBIAN SILICON VALLEY

The new GTC office building is ready to impress its first tenants with its design, functionality, and up-to-date green standards. We spoke to Milica Nestorović, Leasing and Marketing Director at GTC, about the applied sustainable solutions and all the benefits they will provide the tenants

By: JOVANA NIKOLIĆ

As one of the market leaders in commercial, business, and residential real estate in Central and Eastern Europe and a pioneer in office design, GTC makes a breakthrough with each new project. We didn’t expect anything less with the latest one realized, the GTC X new office building, which again confirmed that GTC knows how to meet the new generation’s needs and strict corporate standards. In an interview for our magazine, Milica Nestorović, Leasing and Marketing Director at GTC, explains how innovative the building is and how comfortable and inspiring the work environment will be for its future tenants.

Just as it was planned and announced at the beginning of construction, the office building GTC X was completed in September this year, and it will welcome the first tenants already in October. How much of a challenge was it to meet the deadlines and realize such a demanding project in a year and a half, especially in the circumstances of the global crisis that hit the construction sector hard?

— When you have a product of high quality, spectacular design, and great functionality, the results can not be missed, especially if a renowned developer stands behind it. It was crucial to choose the right time to start the construction. Market condi-

tions weren’t so favorable for investors during the last two years, but experience, know-how, and dedication brought us to realization.

The new office space, with an area of 17,000 m2, features a contemporary and authentic design, with the idea of being an inspiring work environment for companies for which the work space is an important factor for the balance between work and creative breaks. With this, GTC X practically continues the tradition of your business

Photo: GTC

MILICA NESTOROVIĆ, Leasing and Marketing Director, GTC

facilities, which were nicknamed the Serbian Silicon Valley. What makes this building different?

— GTC has always been a pioneer in office design. Each new project was a complete innovation, not only in architecture but also in quality standards. We were able to recognize and meet the new generation’s needs and strict corporate standards. GTC X is a new landmark in the Serbian Silicon Valley. The curved, floor-to-ceiling glass façade gives the building a special feature that you need to have today. This double-height lobby area with a wall screen follows this futuristic design idea and still gives tenants a pleasant rest area. However, we wanted to make this future cozy. The building is surrounded by a retro brick sidewalk, which turned out to be a perfect match. Greenery and balconies have become a distinguishing feature of GTC projects, and we don’t give up on that on GTC X either. Another important factor for companies is a functional floor plate. In this X-shaped building with a 2.000 sqm floor plate, tenants have maximum use of space with natural light in all parts of the office and no unused space.

Like all previous projects of the GTC company, the GTC X facility was designed and built in line with the green standards of the LEED Gold certif-

icate, which promises maximum energy efficiency and state-of-the-art technology. What would you highlight as this facility’s most significant application of sustainable solutions and how essential is the sustainability aspect currently to building owners and tenants?

— Sustainability and ESG indicators have become crucial in office selection. The impact of construction on the use of natural resources and human health is key to the success of the project. GTC projects are focused on these aspects at every stage of their life cycle, from the beginning of design, construction, maintenance, and up to renovation. This is what green construction is all about.

Building structure, orientation, materials used in construction, construction methods, facade, rational use of water, heating, ventilation, lighting systems, all determine how efficiently a building consumes energy. Glass makes every project more attractive, but the wrong choice of glass can lead to very high heating of the rooms and, therefore, more significant use of air conditioning. On the other hand, having enough daylight reduces the need to use electricity during the day, and the use of LED lighting drastically reduces consumption. Maintenance costs and energy used are more rational, projects are more attrac-

The curved, floor-to-ceiling glass façade gives the GTC X building a special feature

Tenants

tive, and the high standards by which we are guided are becoming recognized by our tenants.

Last year, GTC sold 11 buildings within five business parks in Belgrade to the Hungarian investor Indotek Group, for 270 million euros, which is one of the largest real estate transactions in Central and Eastern Europe in recent years. You have just completed a new office building and are managing the Ada Mall shopping center. What are your future plans?

sustainability will remain our focus in Serbia.

GTC Group is one of the market leaders in commercial, business, and residential real estate in Central and Eastern Europe. When you compare the situation and trends in all the markets where you operate, how do you see the further development of these three real estate segments in Belgrade and Serbia?

— The sale of all our office portfolio came at the right moment. We have completed our development cycle in Serbia and started a new chapter in this market. Office buildings with the greatest emphasis on

— The blooming trend of the real estate market will continue in all three segments. We are witnessing historical growth in the residential market without any indicators of slowing down next year. The industrial and logistics sector, although still young, is one of the fastest growing real estate segments in Serbia and it is expected to increase even more due to global trends. Unlike the office segment, which is strong only in Belgrade, both the residential and industrial sectors are expanding equally fast in other cities. The office pipeline and projects under construction show us a bright future in this segment, as well.

OFFICE BUILDINGS WITH THE GREATEST EMPHASIS ON SUSTAINABILITY WILL REMAIN OUR FOCUS IN SERBIA

BECOME

NEW MINEL FOR A NICER AND EASIER LIFE IN AN URBAN ENVIRONMENT

The New Minel Residence&Office complex in New Belgrade is only one of the ten currently active Galens Invest projects, which are being realised in Novi Sad, Belgrade, Zlatibor and Jahorina, and which, according to CEO Radoljub Golubović, confirm that the constant growth in the number of Galens projects follows ever higher quality

Photo: GALENS INVEST By: PETRA VASILJEVIĆ

The people of Novi Sad were the first to recognize the quality and innovation of Galens Invest’s residential projects and gained trust in this company as a reliable and strong investor. The good reputation quickly became known in the country and the region and had an impact on the progressive expansion of the investment portfolio of the company, which is currently building 400,000 square meters on ten projects at the same time. The end of this year and next year will be marked by the largest projects in Belgrade, and in addition to Belgrade and Novi Sad, there are Zlatibor, Jahorina and a joint project in Innsbruck, with a partner from Austria, announced Radoljub Golubović, CEO of Galens Invest, in an interview for our magazine.

Galens Invest has close to 60 completed projects, with a total area of more than 200,000 square meters. It is interesting that you currently have twice as many square

RADOLJUB GOLUBOVIĆ, CEO, Galens Invest

meters under construction on ten projects at the same time. With what ambitions and resources did you embark on this, we can safely say, construction offensive?

— After 18 full years of successful work by our group and 60 completed projects, Galens Invest is currently simultaneously building over 400,000 m2 on ten different projects. Our acquired knowledge, experience, current position in the real estate market, trust of satisfied customers, and constant progress and improvement from project to project are important and necessary, but not completely sufficient for such ambitions. In addition to our knowledge, energy and successful team, we had to get the help of banks, through project financing and support. Hence, I use this opportunity to thank Unicredit bank, NLB Komercijalna banka, Intesa, OTP banka, AIK banka, ALTA banka and other banks , which successfully accompanied us in our development as our partners.

Also, without the main contractor, our related company

Galens Inženjering and its subcontractors, and other participants in our projects, such rapid development and progress of us as an investor would not be possible. From project to project, we progressed together, improved, used increasingly modern and carefully selected materials and tools, and followed world construction trends, which enabled us to build faster and with better quality. Our aspiration, all these years, is that by constantly increasing the quantity, we will also raise the quality of our projects.

You realized your first projects in “your” city, Novi Sad, which is still your largest construction site today. How do the people of Novi Sad recognize your buildings, and what is the quality that Galens contributes to the contemporary identity of this city?

— In the beginning, the people of Novi Sad recognized the innovation and quality, good locations, and modern construction concepts that the condominium brings with it, because in addition to high-quality and well-used apartments, tenants have at their disposal parking spaces, parks, shops, playgrounds for children, permanent video surveillance, security, and, in some complexes, a fitness center, and all that at an acceptable price. Also, the fact that all our projects are in line with urban planning parameters and permits, and that we have not completed any project through legalization, is of great importance.

After several years of construction, the people of Novi Sad gained trust in us because they realized that Galens Invest is not an investor that will realize and sell two or three projects and disappear, but will constantly grow and develop and remain a stable, reliable, and strong company, which with its credibility guarantees quality for many years. After such trust and experience of our customers in Novi Sad, we were quickly heard about, so we continued the development and growth of the company in other cities in the country and region.

Next year and the end of this year will be marked by the largest projects in Belgrade, and in addition to Belgrade and Novi Sad, there are Zlatibor, Jahorina and a joint project in Innsbruck, with a partner from Austria. New projects in other European cities await us soon.

Pupinova Palata is one of your most famous projects in Novi Sad, recognizable by its modern architecture integrated into the old city center. To what extent did this residential and business complex meet the expectations of buyers and tenants, and what will Pupinova Palata in New Belgrade offer to its users?

— The business-residential complex, Pupinova Palata, is located in the very center of Novi Sad. Maybe we are subjective by thinking that our building made this part of the city even more beautiful, but we are sure that, despite all the difficulties we had during the construction of such a building in this location, we managed to build one of the most modern, functional, and beautiful business-residential complexes in the country.

Designed to meet all the needs of a modern way of living and working, Pupinova Palata in New Belgrade represents an ideal combination of premium quality materialization and state-of-the-art technology. An ideal business environment, which includes proximity to some of the largest business parks, proximity to the highway and excellent connections with other parts of the city, makes Pupinova Palata in New Belgrade the optimal choice for business premises. In addition to its great business potential, Pupinova Palata in New Belgrade offers a comfortable and functional living space for all those who strive for a meaningful and quality life in an attractive and dynamic part of the capital.

In an extremely attractive location in New Belgrade, a large residential and business complex, New Minel Residence&Office, designed according to the highest stand-

ards of sustainability, is currently being built. What innovative solutions have you implemented and what level of comfort and accompanying amenities can the future tenants expect?

— Apart from being at a good location, the New Minel Residence&Office complex can also boast the most modern and high-quality materialization, which ensures the necessary comfort and safety. Innovative solutions and modern technology, which raise the quality of housing to an even higher level, are used for the construction of apartments of different structures and orientations. The New Minel Residence&Office is conceived as a semi-closed unit with all the elements that life in an urban environment makes nicer and easier. One of those elements is definitely the tenant park—the atrium, which is filled with greenery and

the-art resort on Jahorina is underway. How would you describe this increasingly popular trend from an investor’s point of view?

— Aparthotels are becoming more and more popular because, in addition to high-quality apartments at attractive sites, customers use the entire hotel facilities and have the option of renting and maintaining their apartments through the hotel’s employees, so it is also a good investment.

contains a children’s playground, a space for socializing and sports, smart benches, and other facilities intended for the tenants’ entertainment and leisure. In addition to the outdoor facilities and parking spaces provided by an underground garage, the safety of the tenants is also taken into account, so the complex has 24-hour security and controlled access.

In addition to building apartments in the most attractive locations in Belgrade and Novi Sad, you have also expanded your apartment building to attractive mountain locations; the construction of an apartment complex on Zlatibor and a state-of-

The Zlatibor Mountain Resort&Spa is one of the most modern mountain resorts in the region, which officially started operating at the beginning of the year. It is located in the very center of Zlatibor and, as an exclusive 5* hotel, it offers its users luxurious facilities, of which we especially highlight the Magnesium Wellness&Spa center, on an area of as much as 4,000 m2. In addition to the spa center, the guests also have at their disposal a large selection of luxuriously furnished rooms and apartments, restaurants with excellent cuisine, as well as various facilities for entertainment: a bowling alley, a billiard hall, a children’s playroom. We are extremely proud of the fact that the Zlatibor Mountain Resort&Spa hotel was built in line with the most modern architectural and construction standards, while we paid special attention to interior design and decoration, energy efficiency, safety of guests and employees, and a high degree of automation of business processes with the application of the highest standards.

In two years, Galens Invest will celebrate two decades of business. What is your bigger ambition until then - to increase the number of square meters under construction to a record again or maybe to expand your business in the region?

— Our goal is, above all, to maintain the quality of construction, functionality, and good facilities content of our complexes, as well as to maintain the trust of our customers and partners. Also, we wish to be recognized as an innovative but stable and reliable investor. After that, we also aim to expand our business in the region.

Pupinova Palata in Novi Sad

Zlatibor Mountain Resort&Spa

FROM PROJECT TO PROJECT, WE IMPROVED, USED INCREASINGLY MODERN MATERIALS AND TOOLS, FOLLOWED WORLD CONSTRUCTION TRENDS, WHICH ENABLED US TO BUILD FASTER AND WITH BETTER QUALITY

GREEN BUILDING

SOLARNA DOLINA: URBAN COMFORT AND HEALTHY LIFE

The modern eco-project Solarna Dolina is a unique residential oasis located in an extensive green area close to Novi Sad, offering its residents all the advantages of a healthy urban life – from top-class equipment, energy efficiency and smart home systems, to the maximum sense of freedom in harmony with nature

By: PETRA VASILJEVIĆ

Photo: SOLARNA DOLINA

Living in a modern apartment equipped with smart home systems and feeling at the same time like being on a vacation in a luxurious villa with a beautifully arranged private yard and surrounded by lush greenery, which gives you a sense of freedom and helps you regain your energy balance, all that within reach of a city and urban amenities – all this makes up a modern living concept of the Solarna Dolina project. This one-of-a-kind residential area, designed to meet the demands of modern life, is situated in an exclusive location, on the slopes of Fruška Gora, just five minutes’ drive from the Novi Sad centre (University, Štrand, TC Promenada, Liman…).

Solarna Dolina is a unique garden of urban living, situated on 4.3 hectares of green area, a large part of which consists of privately owned cultivated areas. The comfort of this, primarily family-neighborhood, lies in its very low population density, low-rise buildings, and large open spaces. This green oasis encloses 100 residential units, which all have their own private yards. All buildings are made of cutting-edge and high-quality materials and are equipped with firstclass furnishings. One thing that sets this first condominium with houses in Novi Sad apart is the fact that the green area accounts for almost 50% of this complex, which allows for a healthy lifestyle and outdoor activities. In addition to the advantages of liv-

ing in a condominium, which imply maximum security and effective running of the facilities, Solarna Dolina also boasts a modern energy efficiency system, providing its residents with optimal comfort and a lower cost of living.

ENERGY OASIS

All buildings in Solarna Dolina are in the B energy class. The new ones are being built with the same heating technical characteristics. The new units, apart from the air conditioning blocks, will have stone wool insulation under the façade brick tiles. Apart from the thermal insulation, additional acoustic insulation is installed between the residential units. Each residence has its own heat pump, which provides the energy for air heating and cooling, as well as water heating. Underfloor heating, top-quality wood design ceramic tiles, and luxurious interior carpentry are some of the additional features of the residences. Each room has its own air conditioning unit, connected to the central cooling system. The smart home system allows control of lighting, heating and cooling, and blinds. Safety sensors—smoke detectors and silent alarm systems—are included. Each residence has its own water meter.

All houses in Solarna Dolina are equipped to allow the installation of the solar power plants on the roof and swift connection to the system whenever the owner opts for this solution. This allows the users to produce almost all the electrical energy they consume during the year, with the idea of this complex becoming the very first net zero-energy residential area.

GREEN OASIS

Solarna Dolina’s residential units each have their own private green oasis in the form of private yards and green

roofs with low vegetation on top of the garages. The common green areas consist of bio-gardens with quality humus soil and carefully selected vegetation, the finest spices and other plants, which are watered by the “drop by drop” system. There are also available bio-gardens for residents who wish to grow their own food. Professional companies will be in charge of the maintenance of the green areas and the technical systems in all facilities.

Common areas provide numerous healthy outdoor activities: a network of walking and cycling paths throughout the neighborhood, trim tracks, playgrounds for children, parks, open air gyms… Streets and the common area are covered by carefully selected, energy-efficient LED lighting.

Solarna Dolina provides its residents with the sense of freedom, harmony, and increased life energy

The residences come with underfloor heating, top quality wood effect ceramic tiles and luxurious interior carpentry

GREEN ENERGY

MASS SOLARIZATION OF SERBIA IS UNDERWAY

The specter of the energy crisis, the fear of restrictions and price increases, and the return to coal, have not stopped the European countries on their road to carbon neutrality, so neither should they stop us, believes Danijela Isailović, Manager of the RES Serbia Association, who points out that right now is the moment to use as much as possible wind energy and additionally encourage mass solarization of houses and factories

Photo: RES SERBIA Text: JOVANA NIKOLIĆ

DANIJELA ISAILOVIĆ, Manager of RES Serbia

Before the global crisis, Serbia started drafting a key framework – the Integrated National Energy and Climate Plan. It is a strategically important document that should define the state’s policy and goals in the RES for the period through 2030, with projections by 2040 and 2050. On how we deal with energy challenges in the meantime and whether the energy crisis will slow down the energy transition that has begun, we talk with Danijela Isailović, Manager of the RES Serbia Association, whose founders are the largest producers of green energy in Serbia.

RES Serbia is a young but very influential association. What would you single out as the biggest achievements in these less than two years since its establishment?

— The Association Renewable Energy Sources of Serbia was founded in February 2021, with the support of the European Bank for Reconstruction and Development. The success lies in the fact that we were founded at the time of the worst pandemic, when many businesses were shutting down. Our founders are the largest operational wind farms in Serbia (Čibuk1, Kovačica and Alibunar), and our members are the largest producers of solar energy, the largest prosumers, wind farms under development, biogas power plants, contractors, lawyers and consultants.

Our member is also the Public Enterprise Electric Power Industry of Serbia (JP EPS), which indicates that our members are also the owners of the largest hydroelectric power plants in Serbia. The slogan of our Association is Synergy of Green Energy and is reflected in the unity and mutual respect of the members. We are the first WindEurope member from Serbia and one of the few from the region. There is a signed Agreement on Cooperation with the Ministry of Mining and Energy, and we have good cooperation and communication with JSC Elektromreža Srbije (EMS AD). We are happily seen as panelists and moderators at the most important domestic and regional events.

You already held the second RES SERBIA Conference, which once again gathered a large number of prominent participants from the country and the region. What were the topics of this year’s Conference?

— The RES SERBIA 2021 Conference was the best conference in Serbia and the region in 2021, because due to the pandemic, the business and political elite from the energy sector of the region gathered at one live event, supported by the leaders of WindEurope, the Energy Community and the EBRD. The Conference took place in a very optimistic tone, with announcements of auctions and new investments, in the spirit of the recently adopted Law on the Use of Renewable Energy Sources, while this year’s conference was an opportunity to see what announcements and promises have come true, and how we will proceed further on. Namely, the implementation of the Law on the Use of Renewable Energy Sources failed, no auctions took place, but there was a great misunderstanding between the most important energy factors regarding the future of RES, the speed and manner of integration of RES into the power system. Of course, investors and bankers are not as optimistic and euphoric as last year, uncertainty causes nervousness and there is no time to wait.

How quickly and efficiently is Serbia developing in the direction of the EU and the Energy Community set targets regarding the production of energy from RES? And what is the biggest obstacle on our way – legal frameworks or investors’ interest?

— According to official Eurostat data, Serbia reached a share of 26.3 percent of RES in the energy mix, which is very close to the target of 27 percent, in 2020. This is an excellent result, but we must not forget that large hydropower plants that are half a century old are re-

sponsible for this, and that wind farms which, due to the investment boom and good legislation, built in the period from 2016 to 2019, represent a small percentage. The calculation of biomass contributed singificantly to this result, while the share of solar, biogas and other technologies is minor.

When we talk about obstacles, the biggest problem currently is the uncompleted legislation and the disagreement of the state authorities regarding the issue of balancing. Of course, there is also the low price of EUR 56 per MWh for electricity produced from wind, which is unsustainable in the era of rising prices for equipment, transport and the fact that the price of electricity on the stock market is several hundred euros. At that price, the state of Serbia also imports electricity because the current production does not cover our needs. Of course, there is also the problem of the double auction premium, which reduces the possibility for competitiveness and achieving a lower price.

There is no problem with a lack of investors, on the contrary, we have a problem with the hyperproduction of investors and projects. Such a false

ANYONE WHO HAS THE OPPORTUNITY TO USE THE SOLAR POTENTIAL OF THEIR ROOF SHOULD DO SO

Solar projects are currently experiencing an investment boom

picture reflected in 14 GW, in requests for connection to the transmission system caused a collapse and fear with the transmission system operator that the system will crash, which practically blocked the realization of RES projects. In order to relieve the Electric Power of Serbia (EPS), a selection of projects should be carried out in some way and make an assessment of the projects that have a high probability of being built and see who are solvent investors. This can be done by introducing bank guarantees or some other mechanisms, as has happened in other countries of the region. If the current practice continues, that anyone, without any financial deposit or guarantee, can apply for connection, we will remain blocked and will not have new green kilowatts on the network for a long time.

If we exclude the hydro potential, from which we get 80 percent of electricity from RES, what are the other renewable sources where we are seeing the greatest expansion in exploitation currently in Serbia?

— In the period from 2015 to 2020, seven wind farms with a total power of 398 MW were built and these are power plants in operation. Due to the uncompleted legislation, there are no new wind farms. The fact that JP EPS has finally started the construction of the Wind Farm Kostolac, with a power of 66M W, is pleasing. It is great news for all of us.

If we are talking about expansion at the current moment, then it is definitely solar energy in the form of small solar power plants on the roofs of houses and larger solar power plants on the roofs of industrial plants.

Due to the expected increase in the price of electricity, especially for the economy, as well as due to the uncertainty of whether there will be electricity at all, citizens, and especially industrial giants, decide to become prosumers, that is, to build solar power plants for their own needs. Mass solarization of Serbia is underway and this trend will not stop, thus everyone who has the opportunity to use the solar potential of their roof should do so. Of course, there are complaints about the efficiency of the distribution system operator, but I believe that there is no malicious intent, but rather the run-in of a new procedure.

Are there any big projects planned as part of this investment boom in the solar field?

— Prosumers are not necessarily small projects. For example, one of our members is building an 8.4 MW solar power plant for the needs of an industrial giant that has production in Vojvodina. The investment in a solar power plant of EUR 12 million is not small. When it comes to large solar projects, EMS AD is overwhelmed with requests. According to some of our estimates, only a small number of projects have the potential to be built. I am not sure that large solar projects in Vojvodina or other parts of the country that are planned on fertile agricultural land have a perspective and that someone will allow food to be converted into energy, unless they are agricultural solar power plants. Of course, there are also the aspects of environmental protection, and we will see who and how will provide land for large solar projects. I think that we will have to wait for some time for the construction of large solar power plants.

Solar energy could be an efficient long-term solution for supplying energy to cities, given that the prosumer regulation has been passed. How much do we use this possibility?

— We currently have more than 100 individuals in the register of prosumers, that is, more than 100 roofs above our heads that produce electricity from the Sun. I believe that there are several thousands more in preparation. I am happy to know that a social protection institution from Sremska Mitrovica, the Social Welfare Center Sava, became one of the first prosumers and built a 5 kW power plant. Our members built two solar power plants for the needs of monasteries and churches in Niš and Kraljevo, even before the introduction of the prosumer concept, which indicates that the Church recognized the importance of green energy.

Unfortunately, no residential community has yet registered in the Register of Prosumers. It is a great pity that buildings do not use their flat roofs for solar energy production. However, knowing how tenant assem-

Wind Farm Kovačica

blies cannot often agree even on the repair of elevators, I do not expect solar panels on buildings to spring up soon, unless local self-governments and the state provide some significant incentives. Apart from money, I think the problem is insufficient awareness of citizens about the benefits of green energy. I believe that new buildings in the future will include solar panels on the roofs during the design process.

In addition to incentives from the state and local self-government, I believe that banks could also provide more favorable loans for such green construction. There are already EBRD programs and credit lines implemented by commercial banks in Serbia, specifically for the implementation of projects in the field of energy efficiency and the construction of solar projects.

I believe that the legal obligation to install solar power plants on new buildings would be stimulating. Such a possibility is foreseen by RePower EU, as the EU plan for accelerating the energy transition, which was presented in May this year. That plan envisages installing solar panels on all public buildings where possible by 2026 at the latest, i.e. on all new buildings from 2029. Of course, the EU has allocated as much as EUR 300 billion for the implementation of the RePower EU Plan. I am sure that we can also use the solar potential of our public institutions and install solar power plants at schools, hospitals, and city administration buildings.

The current energy crisis caused by the war in Ukraine has made even the most developed countries take several steps back on the road to carbon neutrality, as many will be forced to revert to coalfired power generation. How do you foresee the further development of the energy situation in Europe and Serbia?

Energy and security crises have disrupted the entire world. It is logical that everyone is making crisis plans and that going back to coal is part of the crisis scenarios. I don’t believe that anyone under the slogan of decarbonization will leave their citizens without electric-

CROATIA AS AN EXAMPLE

ity and heating, but it is clear that the decision and the act of firing up coal burning furnace are being waited until the last moment. What I see is that the leading European countries are working intensively on the construction of wind farms and solar projects even without the RePower Plan.

Germany, which is Serbia’s economic role model, generates most of its electricity from wind energy. Only in the second quarter of this year, the delivery of equipment for wind farms with a total capacity of more than 900 MW was agreed for the needs of investors in Germany. The most powerful countries rely largely on independent sources of electricity supply. As for Serbia, I believe that the country is behaving responsibly and I believe that the winter will pass without restrictions. However, no one knows how long the war will last and what the consequences will be for years

REGARDLESS OF THE CRISIS SCENARIOS, THE LEADING EUROPEAN COUNTRIES ARE WORKING INTENSIVELY ON THE CONSTRUCTION OF WIND FARMS AND SOLAR PROJECTS

to come. That’s why I think we should follow Germany and use the wind energy potential we have, and build new projects as soon as possible. Mass solarization of houses and factories should be further encouraged. Of course, there are also hydro potentials that provide us with at least a third of the electricity we need. It is good that intensive work is being done on the development of the Pumped Storage Hydropower Plant Bistrica and HPP Potpeć and that the construction is planned. Of course, the dominant energy source is coal, which we are running out of, so we rely on imports, which in security-challenging and politically complex times is not just a commercial business, but is neither easy nor safe, no matter how hard those responsible in the state try.

Croatia is a good example to learn from. Auctions for RES projects were recently held in Croatia. Only three investors applied for 300 MW of wind with projects with a total power of 113 MW, while only two projects with a power of 78 MW were successful at the auctions. The maximum defined price was 61 euros per MWh plus inflation indexation and certain extras for balancing costs, which are far better conditions than the specified maximum price in Serbia. The premium model is also double-sided as it is here.

However, we must admit that the auctions failed. Will something like that happen here? Quite probably. In order for this not to happen, while we still have time, it would be necessary to change the methodology for calculating the maximum auction price, and then the decision itself, as well as to return the initially foreseen one-sided premium model. And of course, reach an agreement on the method and costs of balancing.

IVANA PETRONIJEVIĆ Alumil’s architect consultant

ALUMIL SYSTEMS GUARANTEE ENERGY SAVINGS

The Alumil company has been developing innovative aluminium systems for years now, and with the new Cradle to Cradle certification, we are opening new pathways for participation in projects of sustainable building and bioclimatic architecture, says Ivana Petronijević, Alumil’s architect consultant

By: JOVANA NIKOLIĆ

When a company is dedicated to preserving the sustainability of its operational processes and takes care of the environment, it is an additional reference on top of the numerous green certificates they already possess. One such company is Alumil, whose aluminium systems follow the green building standards while ensuring optimal energy savings in all types of facilities. We talked to Ivana Petronijević, Alumil’s architect consultant, about the advantages of innovative sustainable aluminium solutions that fit into the concept of sustainability.

Green culture has been inherent in Alumil Group’s system of corporate values from the very beginning. This year you have been awarded “The Most Sustainable Company in Greece”. How do you strive to achieve the sustainability of your operational processes?

— One of the main principles of our operational processes is the circular economy model, which allows us to have a positive impact on our living environment by reducing waste and saving energy. Furthermore, an experienced team of engineers working in our research and development department continuously monitors the latest advances in innovation in standards and technologies, which are then applied by Alumil in designing new aluminum system solutions. Us-

Photo: ALUMIL

ing our aluminum systems, you may conserve up to 40% of the energy consumed for heating and cooling residential and commercial buildings.

Among Alumil’s products which are in line with green energy are aluminium profiles for solar system construction. The Pure Aluminium Tracker is an innovative system designed by Alumil Solar in collaboration with Greenfields Company that allows the panels to track the movement of the sun, thus ensuring a minimum of a 25% increase in the energy efficiency in comparison to the fixed solar systems.

What is it in your portfolio of innovative products that has long been considered a safe green investment?

— The expansion of the construction market created an increased demand for aluminium systems. Alumil can respond even to the highest demands of the market with its innovative products in line with green building and energy efficiency. Our curtain wall, tilt & turn systems, and sliding system aluminum profiles have an Environmental Product Declaration (EPD). These systems provide the buildings with optimal energy efficiency and the possibility of getting a LEED green certification. The Alumil aluminum systems are designed in such a way that, when combined with the appropriate glass-packages in the constructive assembly, they

enable maximum functionality, energy savings for heating or cooling, and thus reduce the emission of harmful gases.

You made some significant investments in the production of recycled aluminium. What was your experience with these projects?

— By investing in the most up-to-date foundry equipped with a metal segregation system, we became capable of recycling aluminium and producing aluminium logs by using just 5 % of energy. As a result of this investment, 60% of our products are made of recycled aluminium, which has a positive impact on the preservation of the environment, reduction of waste, and energy savings. Thanks to the innovative production process applied, it is possible to obtain the Green Billet Certificate for aluminium, which will be used in the next production phase of our green architectural products.

Furthermore, Alumil Company has ISO 14001 certification on environmental compliance concerning carbon emissions and energy consumption. Our investments in cutting-edge technical equipment have reduced the use of fossil fuels and energy consumption and replaced it with natural gas and electricity with low or even zero emissions. By investing in our chemical treatment processes, we eliminated heavy metals, thus neutralizing the wastewater.

Alumil has recently obtained the Cradle to Cradle (C2C) international certificate for the sustainability of its products. What does this certificate stand for?

— Cradle to Cradle is a global standard for products that are safe, adhere to circular economy principles, and are produced responsibly. Categories covered by this certificate are material health, product circularity, air and water protection, wastewater management, and social responsibility. Thirty-four of our aluminium systems have the Cradle to Cradle certificate, including the curtain wall systems, tilt&turn systems, sliding

doors and windows, as well as the folding doors system. With the Cradle to Cradle certificate, Alumil has opened up new perspectives for participating in projects following the principles of sustainable construction and bioclimatic architecture.

As a member of the Serbia Green Building Council, you actively contribute to the implementation of sustainable standards in construction. Would you say that our local real estate industry, and even individual customers, have been increasingly following this trend?

— Contemporary architecture prioritize innovations and projects with low carbon emissions. This trend is noticeable in the Serbian and regional markets, too. As a member of the Serbia Green Building Council, we indirectly contribute to raising public awareness about sustainable and energy-efficient building solutions. An example of our relations with individual customers is applying for the GEFF technological registry within the European Bank for Reconstruction and Development (EBRD) programme, which allows the clients to receive loans and also return some funds if they choose to opt for energy efficient solutions.

We also collaborate with architectural designers by attending numerous green building conferences and providing consultations on profile selections for their buildings, technical details, and information on the energy efficiency and sustainability performance of our products.

Thermally insulated folding door Alumil

WHEN TALKING TO OUR CLIENTS, WE ALWAYS PUT AN EMPHASIS ON THE FACT THAT OUR SUSTAINABLE ALUMINIUM DOORS AND WINDOWS SYSTEMS ARE NOT ABOUT MAJOR INVESTMENTS, BUT A SMART CHOICE

LELA ALEMPIJEVIĆ, Partner and CEO, Zabriskie

SUSTAINABILITY IS NOT RENUNCIATION

If the question is what is the biggest challenge for architects in green architecture, I think it is still a change of approach in understanding of the concept of sustainability by all actors, says Lela Alempijević, Partner and CEO of Zabriskie Studio

Text: PETAR DOBROSAVLJEVIĆ

ZABRISKE STUDIO

The demands of the real estate market have been changing rapidly in recent decades, posing new and increasingly complex challenges to today’s architects, one of which is designing according to green building standards. We spoke with Lela Alempijević, Partner and CEO of Zabriskie Studio, which signs some of the most representative domestic examples of contemporary architecture, about what green architecture looks like in practice in Serbia, how architects and investors complement each other in green visions, and how important state incentives are in affirming the importance of green standards.

There would be no green buildings without green architectural designs. How much have green building standards been implemented in architectural practice during the last few years and what do they most often imply? — It is true that green projects are necessary for green building. However, there is no green building without a business plan that recognizes it as an investment. Together with our clients, we create products that meet their wishes and needs, with the awareness that by fine-pushing the boundaries, we create new customers every time. It seems that those boundaries have been pushed in our market as well, but not yet

Photo: Nemanja Ćurčić

Photo:

enough to call it a trend. My impression, from our practice, is that if the investment remains in the possession of the client, the more often the business plan includes long-term consideration of savings through sustainable energy systems (heating, cooling, insulating properties, water consumption, etc., as well as efficient facility maintenance systems through its life cycle) regardless of whether it is commercial real estate for rent, and all the more so, if it is an investment in living spaces.

Is designing a green building a bigger challenge for architects than a classic design, if such a thing even exists anymore?

— The century we live in requires architects and offices to specialize in certain niches more than ever before, because no matter how dedicated, hardworking, and talented you are as an individual or a company, today you can no longer be an expert on all topics in architecture. The requirements of the real estate market have been changing rapidly in recent decades: new technologies, the influence of marketing and branding, the legality of sales, cost management, etc. And because the challenges faced by humanity globally are of an environmental nature, sustainability is thus a topic for the survival of the planet. It is necessary, more than ever, to think systematically, to create automation processes, and to use modern technologies and software so that the results in this century are visionary, as were some architectural aspirations during the 20th century.

On whom does it depend more whether a building will comply with green standards – the architects who design it or the investors – given that this area is not legally regulated in our country?

— Customers are the primary focus of investors and architects, and solutions are developed with their consideration. The state must not be left out, as a client that finances and builds public facilities, but also as a legislator and controller of laws. First, politics, and then the state, is the initiator, and most often also the implementer of planning and implementation of green standards or standards in general. I think that the biggest problem in Belgrade is not inadequate city development and planning but uncontrolled execution and implementation, so the reality is often worse than the worst plan.

On the other hand, if the state gave incentives through minimum tax relief, at least for large developers, regarding the use of green materials, technologies, or the implementation of sustainable energy systems, it would significantly contribute to creating awareness of the importance of green standards. Unfortunately, there is no such thing in our environment yet.

Over time, the so often used term “sustainability“ has become detached from its meaning in such a way that in its subtext there is an expectation of making some kind of sacrifice for the sake of the future, both on the part of politicians and the state, as well as developers. Sustainability does not mean renunciation, and it is not an irreversible investment of money in the future, but above all, it means long-term reflection, planning, and budget management. If the question is what is the biggest challenge for architects in green architecture, I think it is still a change of approach in the understanding of the concept of sustainability by all actors.

The Granit Invest office building Mia Dorćol, designed by your studio, is a multi-award winning example of modern green building. Its attractiveness, among other things, is reflected in the recycled facade brick...

Photo: Relja Ivanić

Mia Dorćol: facade made of recycled bricks

Revolucija office building: visual connection with the park

— No matter how perfectly thought out the house is, if there is no client, it will not happen, and I would add that a house without a client cannot be perfectly thought out. Our projects are therefore a confirmation of this thesis, and Mia Dorćol is the best example.

The initial idea was for the facade to be made of brick in a natural color, and the client accepted it right on. We moved on to market research, import possibilities, keeping in mind a certain budget for the facade.

driving force behind this design. One of Belgrade’s most beautiful parks, Ćirilo i Metodije, which lies across the street, brings the experience closer to the users and, in a way, integrates with the workspace thanks to the transparent facade. Because of this, the curtain wall has been pulled back from the main facade, leaving room for small green gardens that are high enough for employees to enjoy a view. This will be one of the most modernly equipped class A office spaces currently available in Belgrade, but what essentially makes it luxurious is the visual connection with the park and the integration of greenery and plants both on the facade and in the interior.

As for Mia Dorćol 2, the project is being developed, so many decisions are not final. Granit Invest is a company that, throughout its decades of existence, has set a high level of general quality as its standard, striving for innovation in every facility and we are excited and grateful to be participating in another such project. For now, we can announce the use of a material that is new to our market. The facility will be interesting and unusual, and completely different from the first building.

Two ongoing residential and commercial construction projects with your signature are Kennedy Residence and Merin Hill. What are their main qualities?

The process resulted in the decision that the facade should be made of already used bricks. This facade met all the requirements, from the lower cost of the materials to fitting into the industrial heritage; the reused bricks created an identity based on the feeling of belonging to the community. Above all, the most important long-term environmental benefit was realized: a reduction of the CO2 footprint by 12 tons was achieved on the facade of this building alone. Therefore, seemingly small decisions can have a big impact on the environment.

There are high expectations for the new Revolucija office building, which you also designed for Granit Invest, and there is a lot of talk about the Mia Dorćol 2 project. What new will these two projects bring?

— With the Revolucija building’s architecture, it was intended to infuse the spirit of the present into one of Belgrade’s oldest streets. The users were the main

— Both projects represent unique, tailor-made solutions in our market, in which we participated from the first sketches and ideas to the contractor projects. In addition to the numerous requirements regarding efficiency and utilization of space, as well as the standards required by sales, there was also a request from the client to achieve a unique designAt Merin Hill, a special roof design was developed in an effort to find a solution that would enhance the appeal of the attic as a living area. This design subtly interacts with a highly diverse environment. Together with the client, we demonstrated at both buildings that careful planning, good design, and effective branding can greatly increase the price per square meter set by the location.

This year, you worked on a project to expand the School of Electrical Engineering, and it received a lot of attention because it was a unique challenge with cutting-edge solutions…

— It is a public facility, so we recognized this as an opportunity for innovation that has the potential to be realized. On the one hand, we located the challenges of modern academic institutions in the context of general public interests. We have offered a compre-

THE CENTURY WE LIVE IN REQUIRES ARCHITECTS AND OFFICES TO SPECIALIZE IN CERTAIN NICHES MORE THAN EVER BEFORE, TODAY YOU CAN NO LONGER BE AN EXPERT ON ALL TOPICS IN ARCHITECTURE

Expanding the School of Electrical Engineering: an environmental concept that reduces CO2

hensiveness in understanding of customer needs through a talent retention strategy and an environmental concept that reduces CO2, the implementation of digital tools at work, we have created a solution that is more than a campus, a new platform, so to speak. That platform respects heritage both spatially and meaningfully. A green training ground for new ideas has been designed on the roof, and the entire building has been structurally very rationally thought out, with the introduction of CLT wooden construction for the above-ground floors. Throughout the construction and life cycle of the facility, this solution foresees an energy saving of 75%. Also, the noble character of the wood contributes to the overall recognition of the building and to the creation of its identity, with which the community is easily associated. This is one of our most proud projects because it is truly oriented toward a more beautiful, sustainable, and feasible future.

Zabriskie Studio is signing two current domestic projects with British colleagues – Ložionica within Belgrade Waterfront and the future building of the Belgrade Philharmonic Hall. What does it look like when local and world architectural brands cross? — The conceptual layout for Ložionica was developed with the London office Egret West, with whom we easily agreed in the approach that truly innovative spaces should emerge from a narrative rooted in the environment. Cooperation with the London-based Amanda Levete Architects office, with whom we participated as local partners and won the international competition for the building of the Belgrade Philharmonic Hall, is probably the most significant thing that has happened to us in our practice so far. For me personally, it is the best illustration that overnight success requires 20 years of work and a little luck. I consider it our success that we have the opportunity to be part of an international team that carries out such a serious, significant and inspiring project from start to completion. We are focused on gaining new knowledge through this experience and imple-

menting it in our work processes and methodology. Apart from the fact that we understood each other very quickly with AL_A, because we speak the same language of architecture, it helped us to see how domestic and foreign architectural firms differ. Our conclusion is that opportunities for references make the biggest difference, since there has not been such a significant and complex project in our community in the last fifty years.

Zabriskie Studio is one of Serbia’s leading design-consulting companies when it comes to contemporary architecture. What makes your product special and recognizable?

— Two elements of our approach, in my opinion, have been key to our up to date success. One is “don’t dream of success, but train“, and the other is to use every opportunity to overcome challenges by creating innovative optimal solutions within the given time and budget frames. Our product is not only the final architecture and project, our service includes the full process of working with the client. Our facilities are the product of a conscious investment in research to identify our customers’ needs as well as the needs of end users, through a true understanding of all the economic and social mechanisms that have an impact on those needs.

BIG, as a major world architectural brand, has in many ways globally changed the understanding of the role of architecture. The architect is no longer a visionary, as in the novel La Source Vive by Ayn Rand, whose vision was to save the world through the struggle with clients and capital, but the architect is a “problem-solver,” who enthusiastically and without fear leaves the field of his current expertise, ready to learn quickly and to understand new social mechanisms in order to solve problems. I think that Bjarke Ingles, communicating in this way the role of architects in the new age in a simple pop language, not only through his branding, but also through his projects, has done a lot for architecture and for the global community. He has created a new platform that we will all reach. It’s just a matter of how long that journey will take.

ARCHITECT AS A “PROBLEMSOLVER“

Merin Hill: unique roof design

Photo: Relja Ivanić

IGOR MARSENIĆ, Executive Manager, ASAP

ARCHITECTS ARE AN IMPORTANT FACTOR IN THE NATIONAL ECONOMY

In order to define the position of Serbian architecture in relation to regional and global trends, we should first determine and strengthen its status within our society, says Igor Marsenić, Executive Manager of ASAP, the first business association in Serbia that gathers reference firms in the field of contemporary architecture

When people from the profession connect across generations, they easily recognize common goals and the power of association. This is exactly how the Association of Serbian Architectural Practices (ASAP) was recently created, a business association of studios that foster contemporary architectural practice, with the idea of connecting all factors of the architectural ecosystem and exerting greater influence on the market, regulation and the industry itself. We spoke with Igor Marsenić, Executive Manager of ASAP, on how to reach the ultimate goal – building and promoting the brand of Serbian architecture.

What was the basic idea behind the formation of ASAP and how does this association differ from others in your profession?

— ASAP is the theme of a generation that has created its own architectural firms in a very complex business environment, a generation that has become aware of its capabilities and abilities, aware of the fact that the success of each individual firm is, in fact, the success of the entire ecosystem, that each individual successful project moves the border in perception of architecture with the general public and encourages investors. ASAP was formed by a generation of architectural entrepreneurs who followed the development of entrepreneurs generation close to them in the field of film production and gaming industry and came up with a thought, if they can do it, so can we. This is a generation that understands wider contexts, the power of community and connection, does not think in a particularized way and wants to take the place that belongs to them in Serbian society, just as their generational counterparts from the film and IT industry did. This generation knows that it is an important factor in the national economy and believes that it can make a key contribution to changing the perception of Serbia in the world.

Photo: ASAP Text:

PETRA VASILJEVIĆ

We are first and foremost a business association that is dedicated to protecting the business interests of its members. We do not want to define ourselves through the prism of differentiation in relation to some other association. Rather, I would say that we want to open a dialogue regarding the multitude of challenges faced by all the entities that make up that truly large and colorful ecosystem of architecture in Serbia. We believe that in such culturally and economically reduced societies, and eventually, in a big world that is redefining its values and patterns, the disappearance of anyone from the scene is tantamo -

unt to tragedy. We stand on the shoulders of all those who created architecture and fought for its place in Serbian society for the last 150 years. In this sense, we believe that all organizations and associations are equally important to the architectural ecosystem.

What is the response like, what are the criteria for someone to become your member and what does such an association mean to architectural studios?

— The response is truly amazing and we are faced with membership requests almost every day. It is absolutely clear that the existence of such a business entity was much needed. At the time of our registration, at the end of March this year, the Association consisted of 13 companies from four cities, while at the time of our conversation, ASAP consists of 32 companies from seven cities in the Republic of Serbia, and we rightfully like to talk about ourselves as a national organization. ASAP can be accessed by companies that are registered in Serbia to carry out architectural activities and, more importantly, those that share the values contained in our Statute. We believe that the benefits for our members are numerous. ASAP is also a platform for exchanging knowledge and experience. Thanks to ASAP membership you have access to new information on methodologies, software, taxes, insurance, increased visibility through the association’s communication channels and joint marketing. It is also important because of networking and the possibility of direct business cooperation between member companies.

How many architects are there in Serbia, and how many studios? And what would most of your colleagues say: what are the biggest challenges you face in practice?

— I believe that no one currently owns the information you are looking for. Among other things, this is also due to the fact that architectural entrepreneurship is an extremely young form of business. For the purposes of drafting the National Architectural Strategy, the Ministry of Construction, Transport and Infrastructure surveyed 156 architectural firms/bureaus from the territory of Serbia, and this way it was found that more than 70% of the firms/bureaus were founded after 2005, i.e. recently. The intention of our Association is to start elaborating the analysis of the architectural ecosystem in Serbia in the near future and to obtain real data.

As for the challenges faced by colleagues in their daily practice, most of them have their roots in inadequate legislation, regardless of whether it is business or value culture. For example, it is beyond belief that there is not a single show on architecture on any nationally broadcast media or public service. And the generation of architectural entrepreneurs who founded ASAP grew with Ranko Radović’s shows. That is why we believe that the National Architectural Strategy, as an extremely important document in the field of public policies, will point out neuralgic places and offer solutions. We want to be

an active participant and partner of the Ministry in its preparation. The Draft Strategy itself is a high-quality document and we as an Association gave our constructive contribution by submitting comments, suggestions as well as a list of activities for the Action Plan.

We have talked a lot about the business side of architecture, but I would not like to neglect its creative side as well. Because it is the one that actually defines the majority of our colleagues and determines them to, regardless of the circumstances and context, nevertheless engage in this work.

One of your goals is to promote Serbian architecture so that it is more recognized in the world. Can the status of modern Serbian architecture be defined in relation to current global trends?

— The goal of ASAP is to influence the formation of the architectural community and the greater competitiveness of Serbian architecture on the regional market through the exchange of ideas, experiences and knowledge, and to promote the projects of domestic architects on the global stage. This sentence contains the Association’s short-term, medium-term and longterm goals. In order to define the position of Serbian architecture in relation to regional and global trends, we should first determine and strengthen its status within our own society.

What are your priority tasks?

— Our current focus is on community building and strengthening internal organization through the formation of working groups. We created the ASAP TALKS meet-up format, which consists of introductory presentations by a guest or members of the Association and a discussion that develops later. We have held three such events so far and have seen the beneficial effect of the exchange of knowledge, experiences and conversations. Knowing about someone or their business operations through an Instagram profile or LinkedIn is not the same as when you really know them and realize that, regardless of the city you operate in, market niche or the size of the company, you are exposed to similar challenges and problems. I believe that we will soon come out with a plan of activities for September-December of this year and slowly start planning activities for the next one. The organization is growing rapidly and we want to include all members in the daily life of the Association. They deal operationally with topics of tactical importance for the organization. That is why working groups are very important for our actions, further development and achievement of our goals.

IT IS BEYOND BELIEF THAT THERE IS NOT A SINGLE SHOW ON ARCHITECTURE ON ANY NATIONALLY BROADCAST MEDIA OR PUBLIC SERVICE

WE GET INSPIRED BY AMBITIOUS PROJECTS

The largest retail chain in Serbia has recently opened ten new Maxi supermarkets in one single day. We asked Milica Golubović, the Vice President of Delhaize Serbia’s Executive Committee, when to expect the 500th store milestone and how to become a favourite with your customers

By: PETAR DOBROSAVLJEVIĆ

Photo: DELEZ SRBIJA

The company Delhaize Serbia not only has the largest network of stores and supermarkets, but also their brand Maxi has been selected as a favourite with the customers. The Maxi brand’s top quality, easy accessability of their stores, its recognizable design, and their future corporate plans are some of the topics we discussed with Milica Golubović, the new Vice President of Delhaize Serbia Executive Committee and head of the marketing, format, property portfolio, and business expansion sectors.

Continuous retail network expansion is a strategic business model of Delhaize Serbia, which is evident in the fact that your retail chain is the largest one in the country. Nonetheless, delighting your customers by opening ten new supermarkets in nine cities in one single day last June must have been a challenge even for you?

— It has undoubtably been a very ambitious decision, but those are the kinds of projects that inspire and motivate us to be much better. I believe this is something that is expected from a leader. Of course, such a huge project implies teamwork and coordination among everyone involved. We were able to open stores in nine different locations at the same time because of such coordination. We are proud to be able to offer the identical premium quality of the Maxi brand to

all our citizens, from the north to the south of Serbia. Still, the opening of the supermarket in Zrenjanin had an additional emotional dimension because our colleagues from Zrenjanin made a decision for the company to donate half a million dinars to the local hospital.

You are approaching a milestone of 500 stores. What are your ambitions, plans and deadlines when it comes to achieving this important record within the shortest possible timeframe?

— As you have already mentioned, the strategic goal of our company is to continue with the expansion of our retail network, and in this sense, we have proven to be able to achieve what others considered to be almost impossible. For this reason, we do not intend to stop now, and we certainly have no shortage of ambition or clear goals. In the next few months, we will be opening our 500th store, which is an important milestone because we want our stores to be easily accessible to everyone throughout Serbia, no matter where they live.

Where do the customers prefer to do their shopping: in shopping malls, retail parks, or in the neighborhood? Is the Serbian market following global trends when it comes to the retail industry in this respect?

MILICA GOLUBOVIĆ, Vice President of the Executive Committee, Delhaize Serbia

— Our team responsible for business expansion spends time in the field every day. We often say that there is no neighborhood in Serbia where we are not acquainted with the locals and their habits. That is why you can find our supermarkets in the nearest neighbourhood, the most popular shopping malls or retail parks, but also in unpopulated parts of town, which are appropriate locations for large hypermarkets. Delhaize Serbia has a significant advantage in terms of location, terrain, and even store space. We always seek partners when opening a store, and one thing all our stores have in common is the amiability of our staff, who are doing their best to always greet their neighbors with a smile.

In our market, you can find a supermarket practically in every street, which is not typical for the global retail market.

It is evident that you continuously invest in the renovation of your existing stores and in the modern equipping of new ones. How important are interior design and the functionality of a supermarket?

— The times when the price and the selection of goods were the only important facotrs wnhe going shopping aare long gone. In our stores, a wide range of products and a diverse assortment come as default. Today’s customers also expect excellent service and an atmosphere that will make them feel comfortable and welcome.

Our supermarkets have a recognizable design which our customers appreciate, and they respond to it with their loyalty. From our side, we equally care for our customers who have been shopping in the same stores for years and for the new ones who will get a new Maxi store in their neighborhood for the very first time.

The Maxi brand won “Customer’s Favorite” in the “retail” category of this year’s “Best of Serbia” campaign. What is it about the customers’ demand that you successfully recognized?

— The award we were given is the result of our good strategy that our field team is responsible for. Amiable, friendly service, a variety of products, and affordable prices have always been the factors influencing our consumers to opt for our supermarkets. It is a great honor to be chosen as a favorite store, and I am sure it is our colleagues working in the stores who are truly deserving of this award. Their smiles and “good mornings” are often key factors in emotional bonding with the brand.

Interestingly, in addition to expanding its retail network, Delhaize Serbia is also a leader in online sales. What are your estimates and plans regarding the further development of your online store?

— Our company closely monitors all changes in the market, and it’s a fact that technology development changes the customers’ habits in such a way that they are increasingly opting for the online model. We recognized this need back in 2008 and launched an online Maxi shop, which kept growing and developing for the last ten years, as we carefully followed the habits, needs, and global trends. We are proud to say that the number of our customers keeps growing daily, while we keep upgrading options and benefits of our online service. We will open soon a logistic hub (dark store) which will be completely adapted to this modern shopping model.

IN THE NEXT FEW MONTHS, WE WILL BE OPENING OUR 500TH MILESTONE STORE, BECAUSE WE WANT OUR STORES TO BE EASILY ACCESSIBLE TO EVERYONE THROUGHOUT SERBIA, NO MATTER WHERE THEY LIVE

DAWSON,

COLLIERS EXPECTS

TREMENDOUS GROWTH OF BUSINESS IN SERBIA

"When you look at what our aim is here for Serbia, I would never say we want to be number one or number two within a year or two. Our aim is always to make sure that we have a great business with great clients," says Luke Dawson, Managing Director for EMEA Cross-Border Capital Markets at Colliers, after reopening the Belgrade office with a new affiliate, West Properties

Photo: COLLIERS By: GORDANA KNEŽEVIĆ MONAŠEVIĆ

With revenue of over 4 billion US dollars, more than 17,000 professionals in 62 countries and over 25 acquisitions in Europe alone over the past decade, Colliers has been the fastest growing real estate company in the world over the past five years. One of the “big four”, Colliers was the first global real esta-

te provider to enter the Serbian market in November 2000. After a short break last year, Colliers Serbia has been back in business since July 1, with a new affiliate, West Properties. “Serbia has always been an important market. We’ve always felt that the Serbian market offers, first of all, a lot of potential to real estate investors and developers, but also, stra-

LUKE

Managing Director for EMEA CrossBorder Capital Markets, Colliers

tegically, it’s very important from a regional and even from a European perspective what it offers in terms of its location, logistics, outsourcing and the office sector. And we’ve always felt that it’s an important country that we need to have a presence in,” says Luke Dawson, Managing Director for EMEA Cross-Border Capital Markets at Colliers in the interview for our magazine.

In recent years, the real estate and construction industries have experienced significant growth in Belgrade and Serbia. How does Serbia’s real estate market compare to those of other countries in the region?

— I first started coming to Serbia in 2008, and I actually had the privilege of living here in 2012 and 2013 and the amount of development that’s taken place during that time has been phenomenal. Even compared to the neighboring countries in the region, Belgrade in particular has developed on a much faster pace than almost any city in Europe, frankly, over the past 10 years. When you look at the amount of new offices, new residential, new shopping centers, versus where this market was six, seven years ago, it’s absolutely incredible. And that trend seems to be continuing. A lot of investors have realized that there’s a lot of value in this market. When you look at the cost of construction versus other neighboring markets, when you look at the rental growth, when you look at the growth of the younger population, there’s a lot of strong arguments in terms of why you should be in Belgrade.

Colliers offers a wide range of professional services for buyers, tenants, and investors, but some of them are getting better year after year. What are the services that

have had the most growth recently?

— We’re seeing a large amount of change in the real estate service provider industry. What’s happening is that the traditional services of office leasing, retail leasing, industrial leasing, valuations, etc., are still there, but clients are expecting more. Certain new service lines start to emerge, whether it’s design and build architecture, engineering firms, project management, corporate finance, debt services. All of these additional elements are becoming larger parts of our business. And there are things that clients are starting to expect from their real estate service provider. So for us as a company, it’s very important that not only do we continue to be strong in the traditional services that we provide, we need to keep adapting towards what clients want. The most significant growth that we’ve seen is probably actually in the project management side of the business. And project management can range from fitting out a small office or retail center up to the construction of office buildings and big logistics centers. Colliers has made a strategic investment in this area across Europe.

In terms of offices, countries, and employees, Colliers is also notably getting bigger globally every year. What do the numbers demonstrate?

— Colliers has been the fastest growing real estate company in the world over the past five years, in terms of revenue, our acquisition plans and our growth, in terms of headcount. We now have over 17,000 professionals in 62 countries around the world. Our revenue is in excess of 4 billion US dollars. And we’ve been on a large growth plan of both hiring organically, but also acquisitions. In Europe alone we’ve done over 25 acquisitions over the past decade. We have several more that

Photo: Stevan Aksentijević, Pixabay

we’re working on right now. And what we like to do is to both grow through the natural growth process that we have in a normal country but we also strategically like to acquire companies that allow us to take a large step forward. So we do this both on a country basis and also on a service line basis.

When Colliers is brought up, it is usually mentioned that it is part of the “big three” or “big four” in real estate business. The balance of power changes, of course, from year to year. What is it like right now? And what, apart from numbers, makes Colliers stand out from CBRE, JLL, or Cushman & Wakefield?

— I would say those are the “big four”. If you’re looking at the market capitalization of the company, we would be the third largest real estate service provider in the world. But our focus is always more around the company and the culture and how we deal with clients. It’s not our ultimate aim to be the largest. Our view is that we want to be the best. I think all of our competitors do a lot of things very well, but Colliers has always tried to do things a little bit differently. We try and be more entrepreneurial, and we also try and spend a lot of time focusing on understanding our client’s business. So not just their real estate needs, but what is it that they’re looking to do for their overall business. Real estate usually is just the platform for a company to operate. And for us as a real estate provider, it’s really important that we understand what they do every single day, so that we make sure that we give them the real estate that matches their needs going forward. So our aim is always to adapt to the client.

How satisfied are you with the results of the office in Zagreb, which covers Croatia, Slovenia, and Bosnia and Herzegovina, and where do you see your position in the Serbian market in a year?

— We have a fantastic business in Croatia, they’ve just recently opened up an office in Ljubljana. They’ve done a great job in terms of building up, not only kind of their local business, but also with international investors. That business is really a great example of the Colliers flexibility and being able to be more entrepreneurial. When you look at what our aim is here for Serbia, I would never say we want to be number one or number two within a year or two. Our aim is always to make sure that we have a great business with great clients. And I think what we’ll see over the next year or two is that we’ll be able to take the skills and expertise from West Properties and now add the platform that Colliers provides in terms of client relationships, marketing, wider access to capital and knowledge and experience that exists throughout Europe. So you’ll see this business here in Serbia grow tremendously over the next year or two, and develop into new product types, and also hire several more people.

Where do you see the potential for the greatest business growth in the Serbian market—in retail, office, logistics, industrial, residential, or maybe hospitality?

— I think that the logistics sector is the one with the most potential for growth, if you look at the number of square meters of logistics stock that exists in this country versus what you see in other neighbo -

Colliers is the fastest growing real estate company in the world, with revenue of over 4 billion US dollars

ring countries. The logistics sector in Serbia only started developing four or five years ago, significantly behind several other countries. So I think the logistics has the most potential to grow. We’ve seen tremendous growth here already in terms of the office market and residential market, with several new shopping centers opening the past five, six years. It will continue, but I don’t think it will be as high growth. I also think that retail parks still have more room for further expansion across the country.

You have been carefully selecting a new partner in Serbia for more than a year, and you have finally decided on the well-known local real estate provider West Properties, which has been doing business as Colliers since July 1. What led you to make this decision and what do you expect to get out of this partnership?

— We interviewed over 20 companies, and carried out one of the largest processes we’ve ever done in terms of trying to find a new partner. We wanted to find not only a company that had great professionals and good relationships with clients, but a company that we could trust and a company that we felt had the same culture that we do. West Properties not only did have the skills, we really felt that they wanted to grow the business the same way that we wanted to grow in Colliers. So I think for us it was a great fit. What Colliers would want out of a business here in Serbia is that, yes, we want to have a successful business, but more importantly, we want to make sure that in this market we have a company that can service our large international clients, whether that’s a Microsoft or whoever else that are active in this region. The most important thing for us is when clients are coming to Serbia that we trust our partner here in the country to make sure that they get the same level of service that they would get anywhere else in the world. And with West Properties, we knew we could do that.

You have been working for Colliers since 2003, left the company in 2014, but returned in 2017. Sounds like - once with Colliers always with Colliers. Does this also apply to clients?

— I would say so. We’re fortunate enough to have clients that have been with us almost as long as I’ve been with the company. One of the great things about Colliers is that a lot of the people have been with our company for a long time. I’ve been with the company for nearly 20 years, my father has been with the company for close to 40 years. And that naturally then builds relationships with clients that reflect the same thing. The clients want stability. They want to know when they call us that it’s not a different person doing the office leasing or investment valuations every six months. So we’re fortunate enough that we do have clients that are being loyal to Colliers for 10, 15, 20 years. That’s really important for us.

You are a Canadian, based in London, and an expert for investment sales business across Central, Eastern and South East Europe. How did you manage to combine all those cultural and geographical differences into such a successful career?

— My mother’s family is from Ukraine, so I have roots to the kind of wider region here. For me, coming from Canada over to Central and Eastern and Southeast Europe, was in some regards very different, but in other respects, it didn’t feel that foreign to me, maybe because of my family history, or maybe because I grew up in Canada where you’re used to different cultures and different people. Ending up in London was probably more business driven than anything. It was the opportunity to do what I’m doing now, taking what I learned in Central and Southeast Europe and seeing what we could do with that on a European basis.

THE LOGISTICS SECTOR HAS THE MOST POTENTIAL TO GROW IN THE SERBIAN MARKET. I ALSO THINK THAT RETAIL PARKS STILL HAVE MORE ROOM FOR FURTHER EXPANSION ACROSS THE COUNTRY

Photo: Stevan Aksentijević, Pixabay

PRIVATE COMFORT IN EXCLUSIVE LOCATIONS

Apartments featuring modern design, high quality and maximum comfort, tucked away in the quiet surroundings of the most prestigious locations, are the signature of the Homes&Villas brand. The company plans to complete four residential buildings in Neimar and Dedinje by the end of next year

By: PETAR DOBROSAVLJEVIĆ

Photo: HOMES&VILLAS

Project in Lamartinova street

Luxurious apartments in exclusive locations in Belgrade are always in demand and highly valued, mostly because there are few of them in the market, especially those offering cutting-edge solutions while providing private comfort in quiet surroundings. Recognising the existing gap in the market and the need for quality apartments in exclusive locations, Homes& Villas’ team of experts designed four residential buildings in some of the most attractive locations in Vračar and Dedinje. We talked to Dejan Racić, the founder and one of the partners of Homes&Villas, about what makes these projects special and the quality of life they will provide to their owners.

Homes&Villas is a new brand in our real estate market that will make its debut with four residential projects in prestigeous city locations— Vračar and Dedinje. What do these projects have

in common, and what is it that makes them different from other similar projects?

— The Homes &Villas brand is oriented towards higher segments of the real estate market, primarily characterized by exclusive locations, high quality and comfort of living in spacious and delicately designed apartments in small residential buildings with up to 10-12 units. We identified the lack of apartments in attractive locations offering quality and comfort levels in line with the demand of modern customers.

Why did you opt for Vračar and Dedinje as the most appropriate locations for this type of buildings and what are the advantages of the microlocations of these construction sites?

— The residents of Belgrade believe that Neimar and Dedinje represent the most beautiful and exclusive city areas. The residents of these areas find

DEJAN RACIĆ, Founder and partner, Homes&Villas

OUR BUILDING IN LAMARTINOVA STREET, WHICH IS UNDER CONSTRUCTION, IS OF EXCEPTIONAL EXTERIOR ARCHITECTURAL DESIGN, AND I AM SURE IT WILL BECOME A LANDMARK OF THAT LOCATION IN VRAČAR

them quiet, pleasant, and comfortable. We selected these locations for our projects on purpose since we are focused on smaller projects featuring privacy and comfort, which are quite different from the typical features of large settlements.

All four buildings are designed and constructed according to the highest standards — from the heating and cooling systems to the facades. What are some of the innovative solutions you applied that contribute to the sustainability of the building ?

— First of all, we use the highest quality materials – three-layer wood flooring, Italian ceramic tiles and bathroom sanitary appliances, top-class aluminium external carpentry, quality facade material and security entrance doors. When it comes to the heating and cooling systems, we have opted for the heat pump systems, under-floor heating, and fancoil systems. These systems provide maximum comfort during both the winter and summer months while consuming a considerably lower amount of energy than the classic heating and cooling systems.

All four facilities are designed as “smart buildings”. What does that imply exactly?

— The “smart house” allows you to control the heating and cooling systems, shading systems, room darkening, multimedia and other installed systems from one single place. Our

customers are also offered the option to upgrade the system by enhancing the remote control preferences.

What are the most outstanding features of each of the four buildings?

— Our building in Lamartinova street, which is under construction at the moment, is of exceptional exterior architectural design, and I am sure it will become a landmark of that location in Vračar. This building includes two penthouses that represent the ultimate in modern luxury living. The building in Omladinska street in Dedinje, whose construction has just begun, consists of large-sized units for family living and provides exceptional calm and comfort in line with this city area. The building at Hadži Milentijeva street is also of very interesting and dynamic external architectural design. It offers the advantages of living in Neimar, being placed at the intersection of two quiet streets. It will be surrounded by greenery and offer apartments of various sizes to meet the demands of different types of customers—families, but also individuals or couples looking for privacy and exclusivity. Our project in Moravska Street is similar in that sense, positioned in probably the most beautiful location in our portfolio and representing high style and modernity.

All four buildings are being constructed simultaneously, which is a true challenge, especially at this moment of global crisis. Have you prepared yourselves for potential risks and when the completion of work is scheduled? — The first of the four projects is scheduled for completion in the first quarter of next year, while the other three will be completed by the end of next year. We predict that the market niche we targeted will remain unaffected by any potential large-scale global crises. Considering the exclusiveness of the location and the high quality of work, we are, of course, counting on higher costs. However, this particular market segment is limited, so we think we will manage to be competitive in any case.

The JAI Development&Consulting team of experts, with extensive experience in real estate development, stands behind the Homes&Villas brand. It is an important guarantee of both the quality and the timeliness of the construction work. Which projects have you already completed together?

— The JAI team consists of people who gained their knowledge and experience working in a corporation engaged in primarily large-scale commercial and residential real estate development. Following an extensive period of engagement in this industry segment, in 2012 we turned our attention to smaller, mostly residential projects. Recently, we resumed our involvement in large scale projects, such as the Artklasa commercial building and gastro-park Gastrošor.

WE IDENTIFIED THE LACK OF APARTMENTS IN ATTRACTIVE LOCATIONS OFFERING QUALITY AND COMFORT LEVELS IN LINE WITH THE DEMAND OF MODERN CUSTOMERS

MONTENEGRO IN THE COMPANY OF THE MOST LUXURIOUS TRAVEL DESTINATIONS

Montenegro Sotheby’s International Realty has celebrated two years in business showing that life on the Montenegro’s coast has gained a new dimension

NIKOLA NOVOVIĆ

Photo:

In the past few years, Montenegro has become an increasingly popular investment destination. It has been recognized as such by Sotheby’s International Realty, a global leader in the luxurious real estate market, which opened its office in Tivat two years ago, amid the coronavirus pandemic. And this is where, in August, in the heart of the luxurious Porto Montenegro, where it all began, the company representatives hosted their friends and partners from as many as fourteen countries.

During the three-day get-together, Sotheby’s representatives from all over the world were given the opportunity to make themselves familiar with Montenegro’s potential. The crowning event took place in the alluring atmosphere of the Buddha-Bar, with a fabulous view of the bay. Despite the pandemics, political instability, and glob -

al happenings, the Montenegro office turned out to be remarkably successful and has become a synonym for an offer of luxurious properties in Montenegro in a very short time. According to Niko Laković, Montenegro Sotheby’s Realty Group Executive Director and one of the partners, who takes credit for bringing this prestigious brand to the country, they will continue to promote the best of what Montenegro has to offer.

“To have today, just two years later, Sotheby’s representatives from 14 countries familiarizing themselves with Montenegro and the luxurious projects here makes me proud and gives us additional motivation to work even harder on promoting all that we have here. If we manage to reach all seventy-eight countries covered by the Sotheby’s Group, we can say we have done a good job,” said Laković, in his greeting speech to the guests of the Porto Montenegro event.

Niko Laković, the host, and Hunter Milborne, the legend of Sotheby’s

Laković’s acquaintanceship with Hunter Milborne, a true Sotheby’s legend who has been responsible for billions of dollars’ worth of real estate sales, played an important part in bringing this brand to the country.

“When I first came to Montenegro, I sensed an excellent investment energy, met some serious developers, and recognized the huge potential of this place. My business partner, Mr. Laković, has already had a well-developed real property business, and together we initiated the development of Sotheby’s offices in Montenegro. So here we are today, with tangible results and an office at an excellent location – Porto Montenegro, our strategic partner, “said Milborne.

Porto Montenegro, Portonovi and the first One & Only resort in Europe, the Luštica Bay resort, Huma Kotor Bay and Nikki Beach Resort have proven to the

Montenegro Sotheby’s guests that Montenegro is justifiably on the list of luxurious tourist destinations.

Boka Kotorska, one of the most beautiful bays in the world, as well as charming palaces from the 17th and 18th century with values of up to ten million euros, are evidence that this market is not lagging behind Greece, Spain or other similar destinations.

“We are impressed by the positioning of Montenegro among the luxurious destinations, the projects developed here, and some fascinating brands present in the market. What is particularly impressive is that our office has become one of the leaders in Montenegro’s exclusive real estate market in a very short time. We are seeing here a mini get-together of our European offices in a fantastic environment, “says Natalie Mik, Global Vice President, Sotheby’s Realty Group.

The presence of the leading global brands has significantly affected the value of Montenegro’s real estate market. The arrival of Sotheby’s has also redefined the value of the Montenegro market and increased the attractiveness of the destination. By developing Porto Montenegro and other seaside resorts, Montenegro is gradually becoming a year-round destination. Life in the Mediterranean by the sea, with all the amenities offered by these complexes, is being increasingly regarded as a lifestyle instead of a vacation.

The event, marking two exceptionally successful business years of Montenegro Sotheby’s Realty, brought together several prestigious global real estate companies. Apart from the representatives of Sotheby’s Group from fourteen countries and Sotheby’s Concierge, which has lately been conducting highpriced real estate auctions, brand developers from

Abu Dhabi and Dubai—Emaar and Aldar—were present, as well as a partner company from Abu Dhabi, Al Mira Real Estate. Among the guests were representatives of the Porto Montenegro, Luštica Bay, Portonovi, Dukley Gardens, Nikki Beach, Huma Resort & Villas, and Belgrade Waterfront management, as well as global brokers CBRE, JLL and Savills.

Simultaneously with the above activities, a program „The Most Expensive Houses of Europe” was filmed in cooperation with Sotheby’s London office and British Channel 4, showing the 17th century palaces and the One & Only signature villas just off the coast, the very first ones in Europe.

The three-day get-together was an opportunity to get familiar with the market and its potential, to network but also to enjoy the beauties of Montenegro and the tastes of the finest Mediterranean cuisine.

A DREAM VACATION IN THE TURQUOISE PARADISE OF THE MALDIVES

A crystal-clear lagoon, a beach of fine white sand, and a magnificent view of the ocean from a bungalow on your own island — yes, that’s exactly what a vacation in the Maldives looks like. It's one of the favorite exotic destinations to escape from civilization, stress, and gloomy autumn. That’s why it is the right time to choose your piece of this tropical paradise, with the help of our guide to the Maldivian Islands

Photo: TRAVEL BOUTIQUE Text: ANA KRALJ

AIf you’ve always wanted to visit the Maldives for a holiday, a family vacation, a honeymoon, or, why not, for your own dream wedding, you’ve come to the right place. We have created a guide to this turquoise tropical paradise thanks to the rich experience of the Travel Boutique Agency, which will additionally help you choose one of the already existing arrangements or tailor a trip to your liking.

WHERE ARE THE MALDIVES

The Maldives is an Asian archipelagic state situated in the Indian Ocean. It consists of 1,200 islands on 26 atolls and is crossed by the equatorial line. The Maldives are located south of India and Sri Lanka, and their shape resembles a pearl necklace amid the ocean. An atoll is a coral island formed by a volcanic eruption in ancient times. Imagine a pillar rising from the depths of the ocean to the surface of the sea, and on the pillar rim there is a coral reef with exciting underwater life. A perfectly clean, turquoise lagoon stretches from the rim to the interior of the atoll, while islands form in the middle of the atoll. The coral reef that surrounds the atoll does not allow large animals to enter the lagoon, so you are completely protected inside the turquoise paradise.

RESORT ISLANDS

About 200 islands are inhabited by the local population, while about 100 of them have been turned into private resorts. The Maldivian islands are fascinating, with white sandy beaches and clear, bright seawater in lagoons amidst the deep blue of the ocean. Almost all islands have at least part of their beach with fine sand. Resorts are mostly built on islands that have quality beaches and a rich underwater world.

The capital of the Maldives is Malé. It is located in the central part of the pearl necklace. Malé itself is an island with an area of about six square kilometers, where almost half of the population of the Maldives lives. It is an administrative center without the beaches and heaven scenes we expect, so most travelers visit Malé to pass the time at the airport.

The main international airport is Velana International Airport, also known as Malé Airport. It is located on a separate island right next to the capital, just a 10-minute boat ride

away. You can also take a taxi from the airport to Malé via the newly built bridge. By the way, the Malé Airport is the destination for all international flights from Europe, and from there, a transfer is provided to the chosen hotel.

CLIMATE

If you’re wondering when the best time to visit the Maldives is because of rain, sunny days, and sea temperature, the answer is any time of year. You can enjoy the Maldives in winter, spring, summer, and autumn. The ocean water is equally warm throughout the year. The air temperature is stable, up to 30 degrees during the day every month. What is variable are clouds and rain. Almost always, the weather forecast for the Maldives will be rain, because at some point it will surely rain on some of the islands. What you need to keep in mind is that the weather in the Maldives is changeable and clouds, brief rain, and sunny intervals are constantly alternating throughout the day. When it rains in the Maldives, it is not the boring November rain but rain that pours down and then clears up. The clouds come and go constantly, so you will definitely have both sunny and cloudy days.

HOW TO GET TO THE MALDIVES

This enchanting destination has never been closer and more achievable to us, among other things, due to cheap air tickets and increasing competition among hotels that attract guests with discounts and promotions. Also, tourists do not need a visa for a stay of up to 30 days. The Maldives can be reached by plane. The distance between Belgrade and the Maldives is 7,000 km, and all flights from Europe have at least one stopover. From Belgrade, depending on the airline, the journey can last from 13 to 18 hours. The airlines you can use to get to the Maldives from Belgrade are: Qatar Airways, Turkish Airlines, Fly Dubai, and Emirates.

TRANSFERS

You will land by plane at the main Velana International Airport, from where the transfer to your hotel can be by: fast boat (for hotels close to Malé), local flight and boat (for hotels far from the capital and located close to local airports), or hydroplane. Landing at the resort by hydroplane is an adventure in itself due to the impressive view of the azure atolls and islands.

HOTELS

There are two types of hotel accommodation in the Maldives: hotels on islands inhabited by locals and resorts on private islands, where the entire island is actually a hotel.

If you want to get to know the local customs and daily life of the locals, a hotel on a populated island is ideal for you. If, on the other hand, you want a vacation in paradise on earth, as we see in the pictures of the Maldives that “pop up” on the Internet, then you should choose a resort on a private island.

portant to you, choose larger islands. The islands have bungalows and villas scattered along the beach or built over the water, as well as hotel restaurants and bars. These hotels are characterized by their perfect nature, privacy, and quality service. Here you can enjoy the complete intimacy of your villa, walking around the island barefoot and in your bathing suit. You will have the impression that you are a modern-day Robinson Crusoe, only now surrounded by luxury.

The resort islands are of different sizes: some are circular with a diameter of 200–300 m, some are 400–500 m long and 200 m wide, and some are 800-1,200 m long and 300–400 m wide. The largest islands are 1,600–3,000 m long and 200–400 m wide. If having more content is im-

Each resort has its own target group, and you should ask about the additional activities and services they offer. If it is a hotel aimed more at adults, count on more nighttime entertainment. If you want to snorkel and enjoy watching the exciting underwater world, check if the house reef (the reef closest to the island) is close enough to swim to. If you are a fan of an impeccably clean ocean, a view of an endless turquoise lagoon and fine powdery sand in the water, then find a resort that is far from the house reef and that has no coral in the shallows.

VACATION WITH CHILDREN

There is much that makes the Maldives ideal for families, from warm, calm seas and year-round sunshine,

powdery sand, to a shallow and clean lagoon, ideal for carefree frolicking for both the youngest and the parents. Most hotels offer clubs for the youngest and babysitters on request. The hotels also offer a wide range of activities: snorkeling, diving, kayaking, water skiing, windsurfing, boating and watching the underwater world on the House Reef. Hotels have also included in their offer playgrounds for children, trampolines, animators and children’s parties.

HONEYMOON AND WEDDING

Is there a better destination to celebrate your love than the Maldives? No, there isn’t. Imagine a villa on the water, hidden from view, palm trees in the distance, a sparkling blue ocean, a warm turquoise lagoon, exquisite exotic food and a room strewn with rose petals. That is what a honeymoon on the Maldives looks like, a memory that will bring a smile on your face for life. To make your honeymoon even more magical, some hotels will prepare for you a romantic dinner on the beach with candles and the sound of the sea, and somewhere you will get a massage with aromatic oils or an excursion of your choice.

If you have always dreamed of getting married in

an exotic destination, the Maldives is the ideal place to hold a symbolic ceremony and thus immortalize a magical moment of love. The hotel team will make sure that the ceremony goes off in perfect harmony, to your liking. After the solemn oath of love on the beach, with the sunset, flowers and the sound of the waves, a romantic dinner awaits you, with music and candlelight, as well as excellent food prepared just for you.

CONTACT: Travel Boutique Molerova 3, Belgrade +381 11 344 00 44 +381 60 440 90 48 www.travelboutique.rs office@travelboutique.rs

THE MALDIVES IS ONE OF THE MOST POPULAR EXOTIC DESTINATIONS, SO DUE TO HIGH DEMAND, IT IS IMPORTANT TO BOOK YOUR TRIP IN TIME

INCREASING INVESTMENTS IN VACATION HOUSES AND APARTMENTS

According to the data of the Republic Geodetic Authority (RGA), vacation homes in Fruška Gora are by far the most sold, those in Kopaonik and Zlatibor are the most expensive, while Zlatibor has the highest number of purchases of mountain apartments

Photo: MILOŠ NIKOLIĆ Text: JOVANA NIKOLIĆ

The sale of vacation houses in Serbia has seen great growth during the last four years, and despite a slight decline in the first half of this year, there is still a high demand for houses in the mountains, next to rivers, in spas, and close to large cities. This inevitably had an impact on the increase in the prices of this type of property as well as the emergence of some new trends in this segment of the real estate market. According to the data of the RGA on the sale of vacation houses and apartments in residential complexes in mountains, as well as the sale of building land in municipalities where vacation houses and apartments are sold the most, the trend of increased investment in this type of real estate can be expected to continue in the coming period.

“The COVID-19 pandemic initiated a huge demand for vacation homes, which led to a significant increase in sales, but also in the prices of vacation homes in Serbia during 2020 and 2021, when their sales were at a record level. During 2021, 1,450 vacation houses were traded, which is at the same level as in 2020 and 64% more compared to 2018 and 2019. Although a slight slowdown in this growth trend compared to the previous year was noticeable in the first half of this year, being around 10% at the level of the whole of Serbia, the sale of vacation houses is still very high. The Belgrade area, where Kosmaj, Avala, and Grocka are located, as very popular locations for vacation homes, even recorded a 15% increase in their sales,“ says Ivana Štrbac, Head of Real Estate Valuation Department, RGA.

IVANA ŠTRBAC, Head of Real Estate Valuation Department, RGA

Speaking of the regions, the undisputed leader in terms of the number of vacation homes traded is Vojvodina, where there has been the largest increase in the sale of this type of property in the last four years. The municipality with the highest turnover of vacation homes in Serbia is Inđija, followed by Novi Sad, Beočin and Sremski Karlovci. “For several years now, Fruška Gora has been the most attractive location for vacation homes in Vojvodina, among other things, because it is close to Belgrade and Novi Sad. Stražilovo, close to Sremski Karlovci, the area of Iriški Venac and Vrdnik, as well as Čortanovci, Krčedin and Stari Slankamen in the Danube area, are also among top locations,” says Ivana Štrbac, adding that a higher turnover of vacation homes in Vojvodina was also recorded in the municipalities of Zrenjanin, Subotica and Sremska Mitrovica, while Kovin, Vršac and Alibunar are increasingly interesting destinations.

The fifth municipality in Serbia with the highest sales of vacation homes and the first outside the Vojvodina region is Grocka, about 30 kilometers away from Belgrade. According to RGA data, Sopot in Kosmaj, Barajevo, and Mladenovac were also popular with buyers of vacation homes in the past period. In the Kosmaj and Avala areas, close to Belgrade, there is an increasing sale of apartments since there is intensive construction of residential complexes in these locations.

According to purchase and sale contracts, the pri-

ces of vacation homes in Serbia range from several thousand to several hundred thousand euros per house. According to the RGA data, last year and this year, the largest price range was recorded in Kopaonik, where the cheapest vacation house cost 6,000 euros, and the most expensive 600,000 euros. In Sremska Kamenica, the prices range from 5,000 to 410,000 euros; in Kosmaj from 2,000 to 205,000 euros; in Divčibare from 9,500 to 130,000 euros; and in Fruška Gora from 2,000 to 130,000 euros. On ave -

rage, the most expensive are the vacation homes on Zlatibor, since the cheapest was sold for 21,500 euros and the most expensive for 275,000 euros. In addition, this year and last year, roughly twice as many vacation homes were traded in the cadastral municipality of Čajetina, to which Zlatibor belongs, as in Kopaonik and Divčibare.

“The price of a vacation house depends on several factors: the location, the area, the size of the plot, construction period, equipment, infrastructure, etc. The most expensive vacation homes are sold in Zlati-

Modern vacation home in Fruška Gora: the municipality with the highest turnover of vacation homes in Serbia is Inđija

Photo: Modelart Arhtekti

bor and Kopaonik, while the cheapest are sold in Zrenjanin, Šabac, Šid, Beočin, and Bečej, where you could have bought a house for 1,000 euros. What we can notice as a trend is that in 2022, compared to previous years, the percentage of more expensive vacation houses that were sold at a price above 50,000 euros increased significantly. Last year, the most expensive vacation home was sold for 600,000 euros in Kopaonik, which is a record price in the last five years, while in the first half of this year, the most expensive vacation home was sold for 410,000 euros in Sremska Kamenica, municipality of Novi Sad,“ says Ivana Štrbac.

bor was 1,583 euros, which is higher than the average price of newly built apartments on other mountains. 209 apartments were sold in Kopaonik at an average price of 1,355 euros per square meter in new construction (the minimum was 567, and the maximum was 4,450 euros), while 106 apartments were sold in Divčibare at an average price of 1,438 euros per square meter in new construction (ranging from 395 to 2,142 euros).

In addition to vacation homes, in certain tourist destinations there is also a significant sale of apartments within newly built complexes, which are increasingly being built on popular mountains. In this segment of the market, Zlatibor leads the way, both in terms of capacity and prices. According to RGA data, 782 apartments were sold in the municipality of Čajetina in the first half of this year, with prices ranging from 600 to 2,677 euros per square meter in new buildings. The average price per square meter in a new residential building in Zlati-

Whether the trend of building apartment complexes in popular tourist destinations in Serbia will continue, we will see from the apartments sale in the coming period. The data from the RGA, which show that in the last two years there has been a significant increase in the sale of building land in certain municipalities that are attractive for the purchase of vacation homes and apartments, however, could indicate that there will be more mountain apartments and luxurious vacation homes on offer. For example, in Sopot, the number of building land sales increased from 182 in 2019 to 683 in 2021, in Grocka from 321 to 567, in Inđija from 246 to 509, in Čajetina from 185 to 453, and in Bajina Bašta from 107 to 356. Last year, the highest price per are was paid for building land in Čajetina - 51,418 euros. In Sopot, the most expensive building land was paid for at 3,200 euros per are, and in Inđija – 16,547 euros per are.

“In 2021, the total sale of building land increased by 40% compared to 2020, while in the first half of 2022, a slight decrease of 8% was recorded compared to the same period last year, which is still at a significantly higher level than in 2019 and 2020,“ says Ivana Štrbac.

THE AVERAGE PRICE OF NEWLY BUILT APARTMENTS IN ZLATIBOR IS 1,583 EUROS PER SQUARE METER, WHICH IS HIGHER THAN THE AVERAGE PRICE IN KOPAONIK AND DIVČIBARE

Photo: Pixabay

SEAPOD: FLOATING HOUSE OF THE FUTURE T

he idea of building homes on water is not new: in fact, there are at least a dozen startups that suggest this type of residences. What SeaPod brings new to the table is the promise of a luxurious, smart home that will also be affordable. The model proposed by Panama-based company Ocean Builders and designed by Koen Olthuis, the “world’s first aquatect,” and his team at Waterstudio, is billed as the first eco-restorative float house in the world, with multiple functionality. It uses over 1,688 cubic feet of air-filled steel tubes to float 2.2 meters above the waves, with the entire section underwater becoming, in time, an ecosystem for marine life.

The SeaPod will feature panoramic windows for 360-degree view. One unit will offer 73 square meters of living space spread across three and a half levels. The interior layout is simple. You have a living room; a kitchen with breakfast bar; a bedroom and a spa bathroom with jacuzzi and a climbing wall that takes you to the roof. There’s also a terrace and the possibility to add a “water patio”. The pod can accommodate two people on a permanent basis and two overnight guests.

The goal is to make the SeaPods self-sufficient at one point, but in an initial phase, they will probably rely on energy from the grid. The SeaPods will be smart homes, too. Pre-orders started in September, with prices ranging between $295,000 and $1.5 million for one unit.

SPACE TOURISM IN THE FIRST MOON RESORT

Yes, it is time for it. Yet, the first Moon resort will actually be open – on land. Designers Sandra Matthews and Michael Henderson have created a concept for a 224-metre-high spherical resort that would include a moon-like experience. Named Moon, the resort would consist of a spherical steel structure enclosing a hotel and the moon-surface attraction built on two of a three-storey circular podium. It will be a luxurious destination resort enabling guests to walk on the lunar surface while exploring an authentic lunar colony – space tourism for all! The authors of the project expect that the resort will also serve for astronaut training and for global corporations and space agencies to showcase their technology. The idea is to open four resorts: in North America, Europe, the Middle East and Asia. The first resort will probably be built in Dubai. The authors estimate that each resort will cost $5 billion to construct and would attract 10 million visitors a year.

THE WORLD’S TALLEST APARTMENT IS HITTING THE MARKET

Hitting the market for $250,000,000, the property sits at the top of the tallest residential building in the world, Central Park Tower. Developers are confident they can sell the penthouse triplex (spanning floors 129-131) at that rate. The home includes seven bedrooms, eight bathrooms, three powder rooms, two kitchens, a private terrace, and multiple living and entertainment spaces. A grand staircase connects the three levels, and floorto-ceiling windows across the residence provide panoramic views of New York’s skyline below. Central Park Tower is 1,550 feet tall. While standing at the top floor of the apartment, the earth’s curvature is visible to the naked eye.

VACATION HOME AS AN OASIS OF FREEDOM

Prefabricated or built, your vacation home should be a place offering you a sense of calm and contentment. Here we give you some suggestions on how to upgrade your living space in a natural environment and achieve a sense of ultimate freedom

By: DEJAN MITOV

Photo: MODELART ARHITEKTI

For many of us, a fast-paced lifestyle and the burden of everyday obligations can be extremely stressful. Getting out of our typical environment and going somewhere where we can experience some new feelings is a way to relax. Vacation houses are more than simply status symbols or trends; they are a necessity. It doesn’t matter if the home is owned or rented; its main purpose is to provoke pleasant feelings and create a sense of wellbeing. Neither its size nor its facilities are necessary for completing its function: to trigger positive emotions.

Dejan Mitov, architect, Modelart Arhitekti

LOCATION VIEW

The location of the vacation home is one of the decisive features when it comes to the sense of wellbeing it is expected to provide. Even distance, poor accessibility, and lack of infrastructure will be disregarded as long as the location is interesting and incites positive feelings. The vicinity of a lake or a river, the top of a hill, a rocky cliff, or a smooth meadow are some of the location features that will attract a poten-

tial vacation home owner by inducing positive vibrations. Prefab houses are usually limited in space, but they are not limited when it comes to location choices in natural settings. They are also ecologically acceptable because they can be removed without harming the environment.

Brvnara 27 is a mobile cottage which easily fits into different surroundings while responding to the basic requirements of dwelling in nature.

Views of the urban landscape in densely populated cities are usually uninspiring and may even evoke uneasiness due to the overcrowding of people. A getaway to a holiday cottage helps to foster the sense of independence that comes with wideopen landscapes. When the house is locat-

ed at an elevated location, it may provide a breathtaking long distance view of surrounding hills, a lake, or a river. However, even when a long-distance view is missing, a view of an old walnut tree, a small orchard, or two grape vines can still create a strong impression and give us a sense of freedom.

Brvnara 27, outside and inside

House on Fruška Gora (left), House in Rakovac

GLASS PORTALS

Glass portals are indispensable elements of a vacation home which serve to provide a connection between the interior of the house and the yard, or its immediate surroundings. In the vacation house, our daily activities take place both in the interior and the exterior, with frequent migra-

tions from the closed space into the open air and vice versa. Glass portals create an uninterrupted connectivity between outside and inside activities. Thanks to them, the sense of freedom does not cease inside the house and the view of the surrounding area is available from the interior.

STONE, WOOD AND TERRACOTTA

There is a wide choice of materials for the interior finishes of the vacation houses that can meet the needs of all customers. The most popular materials for the vacation house interior are usually stone, wood, and terracotta. These materials create a feeling of connectedness with the natural surroundings and traditional architecture, but they also contribute to the sense of ease which continues to live

through them. Sometimes, even an imperfect treatment of this material will not spoil the impression and sense of comfort its texture creates. On the other hand, the use of concrete, epoxied floors, various ceramics, and similar materials, fits very well in interiors of this kind. The simplicity of basic surfaces serves to emphasize the existing pieces of furniture but also to simplify the exploitation of the space.

House in Rakovac, House in Alibunar, House in Petrovaradin (from left to right)

House in Alibunar, House in Petrovaradin, House in Smliovci (from left to right)

FIREPLACE

A wood-burning fireplace is an inevitable element of the vacation home interior, even if it may not be the only source of heating in the house. Although the house may be equipped with a heating system, it often has a fireplace occupying the central space in the sitting room, the one that traditionally be -

longed to the hearth. Fire crackling, the smell of wood, the dance of the flame, and the light coming from the fireplace add to the sense of ease, the main reason why we come to our vacation home. The fireplace certainly enhances the atmosphere overall, and its absence would be noticed as lacking.

SAUNA

In Finland, regardless of its size or furnishings, every vacation home includes a sauna as one of its facilities. Even if they are more widely utilized and more widely accepted, saunas are still seen as a status symbol in our society. In addition to the standard types of indoor saunas, there are also outdoor saunas that

can be put in the backyard. Apart from its health benefits, the sauna is another component that enhances the sense of freedom in the context of a vacation house. Even if we only spend there 10 or 15 minutes, it is time we spend with ourselves, getting away from the crowd at least for a moment.

House in Rakovac (left), House in Fruška Gora

Kung saunas

IKEA AND SWEDISH HOUSE MAFIA COLLABORATION

IKEA and electronic music artists Swedish House Mafia set to explore music and creativity at home and make everyday life easier for those who produce, perform, play, or listen to music. The result of the collaboration is OBEGRÄNSAD, a limited collection, with more than 20 products, which will be launched globally in October. The OBEGRÄNSAD collection, which means unlimited in Swedish, consists of clever home furnishing solutions for producing and performing music in the home setup – as well as solutions for listening to music and creating a relaxed atmosphere. The collection includes a record player, LED work, wall and floor lamps, a clock; laptop, tablet, speaker, and record stands; a desk, two options of shelving units, an armchair, four options of bags, including an accessory, a record and a laptop bag, rug, and sleepers in two sizes, a throw and a cushion cover.

HOLOGRAPHIC FIREPLACE

French fireplace brand Focus has extended its collection of Ergofocus fireplaces to include a design that produces holographic flames. Named Ergofocus Holographik, the fireplace features ceramic logs that appear to create a “virtual fire”, which is powered by electricity. “This model breaks new ground with an astoundingly realistic holographic fire that marries sensory pleasure, technological innovation and the timeless style of Focus fireplaces,” said the brand. Created to provide the visual appeal of a fireplace without safety concerns, Ergofocus Holographik’s hearth rotates 80 degrees so it can be viewed at multiple angles. The flue can be adjusted to any ceiling height and is purely decorative, meaning there are no installation constraints.

ZARA HOME +

BY VINCENT VAN DUYSEN

Spanish brand has launched this summer Zara Home + by Vincent Van Duysen collection, featuring furniture and home accessories in the distinctive sophisticated style of the Belgian architect. The first of a series of collaborative pieces (part of an ongoing collection scheduled to be updated with new designs twice a year) focus on the living room, with sofas, armchairs, tables, desks and consoles, as well as lighting, ceramics and textiles. This will be the first time that Van Duysen’s exclusive designs are made more accessible. Some subtle, distinctive motifs define the collection: purity of lines, geometries, natural materials including wood, stone and linen, and a palette of neutral colours (bone, midnight blue, dark green) that give a peaceful and meditative tone to the environments.

LAMPS MADE FROM ORANGE PEELS

Ohmie the Orange Lamp comes from Krill Design, a Milan-based studio that aims to turn waste into useable products. Each lamp is made from 100% natural and compostable materials—in this case, discarded orange peels from a food producer in Sicily. The peels are dried, ground and combined with vegetable starch to create the biopolymer base used by the 3D printer. Once printed, the lamp functions like a typical lamp, with a power cord, lightbulb and on/off switch with a dimmer. It stands just over 23 centimeters tall, so it’s a good option for your desk or as a reading light. It also smells faintly of oranges, which is an added bonus.

INNOVATIVE SYSTEMS FOR PERFECT LIGHTING

The wide assortment of the BB Link sales chain offers more than 2,000 products in the category of lighting, LED lighting, ventilation and electrical materials, including the exquisite Lumé and Dawn brands, whose models are on display in the newly opened Lumé showroom, at SC West 65

Sophisticated and innovative, the Lumé brand’s models exude elegance and represent modern interior lighting solutions that will contribute to a unique aesthetic and fit perfectly into the lifestyle of each client. In addition to impeccable Italian design and artistic expression, Lumé has paid special attention to materials as well as lighting technology. The models are made of the finest materials and are of premium quality.

Text and photo: BB LINK

LIGHTING

Lumé showroom, SC West 65

More information about the exclusive Lumé brand and new collections can be found at www.lume.rs, or in the Lumé showroom, located at SC West 65, on the first floor, where a professional team of architects and designers will help you find the ideal Lumé lighting solution for your space, give useful advice, and help with project planning.

The Dawn Light brand offers a variety of industrial and commercial lighting models in its wide portfolio of products. The focus is on lighting that, in the first place, provides lasting quality light and whose performance provides safety and saves electricity. Dawn Light modular systems represent modern modular magnetic lighting that provides the possibility of modulating innovative line systems as well as the installation of several different types of lights. Modular systems are made of high-quality aluminum, featuring a modern and luxurious design. More information about the brand and models can be found at www.dawnlight.rs.

PININFARINA BATTISTA VS. RIMAC NEVERA

Both cars are among the fastest and most luxurious electric vehicles in the world, and both went into production this summer. What's the difference between two models worth 2.2 milion euros each and are they truly rivals?

By: ANA KRALJ

German luxury electric vehicle manufacturer Automobili Pininfarina, which can trace its heritage back to Italian car design firm and coachbuilder Pininfarina, and Croatian car manufacturer Rimac both announced last summer that their respective electric hypercars had entered production. And the timing is likely no coincidence, considering that the Battista from Automobili Pininfarina is built on the powertrain of the Rimac Nevera and powered by batteries from Rimac.

Producing more than 1,874 horsepower and 2,340Nm of torque, the Battista hyper GT offers a top speed of 350km/h and can accelerate from zero to 100km/h

Pininfarina Battista

in under 2 seconds – faster than a current Formula 1 car. Boasting 500 kilometres of range on a single charge thanks to a 120kWh battery that powers the four electric motors, one at each wheel, the Battista can be recharged from 20% to 80% in under 25 minutes.

Since Automobili Pininfarina is famous for its attention to detail, it takes up to 1,340 hours of hand-crafting, led by the customer’s preferred choices for their car. Given this, it is not surprising that only 150 Battistas will be produced at Automobili Pininfarina’s design, engineering, and development hub in Cambiano, Italy.

According to Rimac, the Nevera has undergone five years of develop -

ment and testing, three generations of powertrain technology, 18 prototypes, 45 physical crash tests, and more than 1.6 million collective hours of research and development. With 1,914 horsepower, 2,360Nm of torque, and total power output of 1,427kWh thanks to four motors, one for each wheel, powered by a 120kWh lithium-manganese-nickel battery, the Rimac Nevera can reach top speeds of 412km/h with an acceleration of

0-100km/h in 1.97 seconds.

The Rimac Nevera also promises a WLTP range of 550 kilometres and fast charging options from 250kW, from zero to 80 percent in as little as 19 minutes.

Rimac only promises to make 50 hand-built Neveras each year, over three years, for a total limited run of 150. Unsurprisingly, then, the first year of production is already sold out. The Nevera is being produced in Zagreb.

RIMAC ONLY PROMISES TO MAKE 50 HANDBUILT NEVERAS EACH YEAR, OVER THREE YEARS, FOR A TOTAL LIMITED RUN OF 150

Rimac Nevera

CHARGE&GO EXPANDS ITS CHARGING NETWORK

The Charge&Go network of fast and ultrafast chargers for electric vehicles already covers more than 40 locations across Serbia, with a plan to provide as many as 100 charging points by the end of the year. An application with the same name makes it simple to identify their locations and availability

Photo: IDOOK MEDIA By: MILICA RADIČEVIĆ

The Charge&GO has been promoting electromobility and installing chargers in our country for the past four years. So far, they have installed EV chargers with a power range of 22 to 180 kW in over 40 locations along the roads and highways throughout Serbia. By the end of the year, this network will be covering 100 charging points with an ever increasing number of ultrafast and more powerful chargers.

THE MOST POWERFUL CHARGERS AT OMV GAS STATIONS IN MARTINCI AND BAČKA TOPOLA

At the beginning of July, Charge&GO launched the most powerful charger for e-vehicles at the OMV gas station in Martinci 1, on the way to Belgrade. The charger’s output power is 180 kW, and its maximum power is 300 kW. The idea is to gradually increase this power to reach its optimum by simply adding power

modules. At the end of August, the users of electric cars were given an opportunity to use another ultrafast charger of 180 kW of power at the OMV gas station in Bačka Topola. Both Kostad Siemens Unity 180 chargers have two CCS connections and operate in the temperature range of -30° to +55° C.

Charge&GO chargers are availble at another three OMV gas stations: in Doljevac, the Niš-Vranje highway station where an ultrafast charger of 150 kW was installed (the second most powerful electrocharger at the OMV stations), in Gradina, a border crossing near Dimitrovgrad (90 kW), while the OMV station in Lapovo had a 120 kW charger installed at the beginning of the year.

NEW STOP SHOP CHARGING POINTS

Along with the strategic development of its ultrafast charger network on the highways, Charge&GO teams have been installing chargers at the Stop Shop retail parks. As of the beginning of August, drivers of electric vehicles can stop by the Stop Shop in Sremska Mitrovica, Lazarevac and Požarevac to charge their batteries. Siemens Kostad chargers of 24 kW power are available at these points. A more powerful Siemens Kostad charger of 120 kW was launched in mid September at the Stop Shop in Vršac. Chargers with power ranging from 24 to 120 kW are about to be installed at the Stop Shop locations throughout Serbia.

100 CHARGING POINTS BY THE END OF THE YEAR

Charge&Go has been continuously expanding its electric charger network in Serbia. Currently, there are more than 40 charging stops across the country, and it is foreseen to reach a total of 100 charging points by the end of the year. As for now, drivers of electric cars can charge their batteries with fast and ultrafast chargers installed at GAZPROM and OMV gas stations, and with fast chargers at the highway toll booth locations near Vrčin, Horgoš and Trupale-Niš. The residents of Novi Sad and Kragujevac and their guests can charge their e-vehicles in the

BY USING THE CHARGE&GO APPLICATION YOU WILL BE AUTOMATICALLY CHARGED A LOWER PRICE, PROVIDED WITH GPS NAVIGATION AND ACCESS TO AN INCREDIBLY BROAD NETWORK OF AS MANY AS 170,000 CHARGERS IN 30 COUNTRIES ACROSS EUROPE

shopping malls, Promenada and Big Fashion. The Charge&GO network is also the first choice of the automotive industry representatives in Serbia, such as British Motors, AK Kompresor, and Hit Auto.

+381 11 715 85 99 +381 66 803 1 700 podrska@chargego.rs www.chargego.rs

The Charge&GO digital platform and application allows the drivers of electric vehicles to easily locate the nearest charging points where they can quickly and easily charge their cars. The platform provides the drivers with an efficient charging and payment service and also allows companies to control their network of chargers remotely. This covers a number of services, such as charging control, charger monitoring, pricing, restriction of use, and charging session data overview.

The Charge&GO application is the easiest way to get information on the locations and accessibilities of chargers in the network. Although chargers can be accessed in several ways (with QR code or the charger number), by using the application you will be automatically charged a lower price, provided with GPS navigation and access to an incredibly broad network of as many as 170,000 chargers in 30 countries across Europe.

BEYONCÉ, THE ULTIMATE TIFFANY WOMAN

The American singer Beyoncé shot in September a new campaign for the prestigious jewelry brand Tiffany& Co., called “Lose Yourself in Love”. “Lose Yourself in Love embodies the beauty of self love and empowered elegance. Beyoncé is an inspiration to so many because she embodies these qualities,“ stated the brand. Beyoncé has been a Tiffany brand ambassador for years, and in this campaign she wears pieces from iconic Tiffany collections, such as Tiffany T, Tiffany HardWear, Tiffany Knot and the new Tiffany Lock collection.

LOUIS VUITTON TWIST BAGS FOR CHIC WINTER

Since its debut during the 2015 runway show, the Twist has been embraced as an iconic Louis Vuitton bag. A modern, sophisticated design, defined by a signature transforming LV lock and a graphic shape in Epi leather, perfectly articulates the Maison’s authentic style. For Winter 2022/23, Louis Vuitton puts a fresh spin on the Twist with several new animations. The original LV Twist lock, a jewel-like feature that enhances the bag’s classic design, is reinterpreted in four variations: colourful strass, enamel, an engraved Monogram, and engraved metal that echoes the signature Epi leather. The iconic Twist also features in its signature camel, black and white versions.

GUCCI CAMPAIGN AS AN HOMAGE TO STANLEY KUBRICK

Gucci and its creative director, Alessandro Michele, recently presented the new campaign, “Gucci Exquisite“, as an homage to cinematography and one of its most famous masters, Stanley Kubrick. In the one-minute fashion film, Gucci takes us on a journey through Kubrick’s most significant scenes from iconic films such as ”2001: Space Odyssey“, ”A Clockwork Orange“, ”Barry Lyndon“, ”The Shining“, ”Eyes Wide Shut“ and more. The replicas of the scenes are extremely faithful, and in addition to replicas of the original costumes, there are pieces from the Gucci Fall/Winter 2022 collection, as well as fashion pieces created by Gucci in collaboration with Adidas. If we choose Gucci, autumn will definitely mean pleated skirts, lovely evening dresses and sporty glamour, and our favorite fashion accessories will be spike-studded mini bags, knee-high boots and statement earrings.

BELGRADE NIGHT LIFE AT A CLICK

We all know that Belgrade abounds with fantastic places to go out, but you may not have yet heard of a new app, GoOut:Events in Belgrade, which provides information on all the happenings in the city. You just need to find an event that interests you and make a reservation. And here is how

Photo: GOOUT By: ANA KRALJ

WHAT IS GOOUT: EVENTS IN BELGRADE?

GoOut is an app that keeps you upto-date on all current cultural and entertainment events in Belgrade with a single click! Whether you are a Belgrade resident or a first-time visitor, the GoOut application is the fastest and easiest way to help you decide where to go out with your friends and to find out what great events Belgrade has to offer.

HOW DOES THE APP WORK?

GoOut app makes it easy for you to search for events that interest you. Events can be filtered by. Venue type:

Search option: You can search for events based on the name or the participant by using the Search option.

Belgrade map

WHAT KIND OF

EVENTS

CAN I FIND WITH THIS APP? 1. Belgrade’s night life (floating clubs, nightclubs, bars, restaurants...)

Concerts, festivals, bazaars, and fairs

Cinema, open-air cinema, openair performances, theaters

Pub quizzes, social games, sports matches, tournaments

Dancing, literary events, art workshops

Stand-up comedies, meet-up events.

(anything not falling into the first four categories) Date:

Starting soon (within next 2 hours)

(events taking place the following Friday)

(events taking place the following Saturday)

a day (any future date)

containing at least

On the Belgrade map, all events are shown as pins. If you click on a pin, a small window will open, giving you the basic information about that event. By clicking on this window, you will get the complete information. A detailed overview will give you all you need to know about the event’s concept and what to expect there. For those who are not keen on reading, there are tags highlighting only the main facts. Tags may be related to the name of the venue, participants, type of music, event

concept (open-air, pool party, festival...), special offers (promotion, giveaway, free entry...).

WHAT ARE TAGS FOR?

Apart from serving to quickly provide the basic information about the event concept, each tag can also be followed. This means that the event page will be organised in such a way as to first show you events containing tags you are following. If the event contains more than one tag you are following, it will be shown before other events. This allows you to have the event list sorted to your liking.

The search option for tags allows you to find a specific tag you are looking for. By clicking on this tag, you will be shown all events containing this tag. You can see all the tags you are following at any given moment (Followed).

HOW CAN I FIND OUT IN ADVANCE ABOUT FUTURE EVENTS?

Another attractive feature when it comes to tags is that by following them, you will be provided with regular notifications on all new events containing that tag! This means that the GoOut app will make sure you no longer have to worry about missing your favourite fun event.

If you do not want to be bothered by notifications, you can turn them off. However, in that case, you will not be informed about the cancellation or date change of the event, nor about current special offers or gifts.

WHAT ARE ADDITIONAL ADVANTAGES OF THE APP?

Once you identify an event you are looking for by using the available search options, the GoOut app will provide you with all the necessary information about it: the time, the address of the venue, its location on the Belgrade map, a phone number

to book reservations, as well as the follow option allowing you to receive timely commencement or cancellation alerts.

WHY IS IT USEFUL TO FOLLOW THE APP ON INSTAGRAM?

On the @go.out.in.belgrade Instagram profile, you can find videos and live streams of parties and other happenings as a reminder of what’s on offer that day. On Instagram you can also find information about free tickets and gifts, and finally, it is the right place to be in direct communication with other users of the app, as well as organisers and participants of events.

WHERE CAN I DOWNLOAD THE APP?

You can install the GoOut application by clicking on the link www.goout.rs/promo, which will take you directly to Google Play or the App Store (depending on whether you have an Android or an iPhone device). GoOut is 100% free and it doesn’t even require for you to log in.

GERANIUM: BOTH MICHELIN STARS AND THE RESTAURANT OF THE YEAR AWARD

f your trip takes you to Copenhagen, and if you can enjoy the food without meat, visit Geranium, officially the best restaurant in the world this year. This summer, Rasmus Kofoed’s restaurant received a prestigious award from its colleagues at The World’s 50 Best Restaurants Awards, held in London.

I

The Geranium restaurant is located in Copenhagen’s Parken, the football stadium that’s home to the Danish national football team. It’s more picturesque than it sounds—set on the eighth floor, the dining room is all light woods and creamy walls, and is flooded with light from the huge windows. In 2022, Kofoed and the team decided to revamp the restaurant and the menu they served here. The chefs no longer use meat in their dishes, although seafood is still a star player.

Meals are made up of 22 tasting-style dishes and change with the seasons. The menu might include artfully contorted salted herring with algae and dill stems or pretty winter greens with flowering Brussels sprouts and leeks. The menu costs about EUR415, and there are options to add a range of wine pairings or non-alcoholic drink pairings too.

Geranium’s first entry on the World’s 50 Best list came in 2013, the same year it was awarded two Michelin stars. The team earned a third Michelin star in 2016, making it the first Danish restaurant to achieve the maximum number of stars.

Photo: geranium.dk