RETROSPECTIVE 2011 - Investments in field of REAL ESTATE that drew greatest attention of eKapija's users in 2011

eKapija`s investment team has recently done an analysis and formed the rank list of investments and investment ideas that drew the greatest attention of eKapija`s users in 2011. The results are very interesting, some are expected, but there is a plenty of surprises, so that we`ve decided to share this information with you.

Projects are classified into 12 categories and this time we are presenting the most interesting investments in the category of REAL ESTATE.

Apparently, the economic crisis is the reason why there were no new, grandiose projects in 2011, but the commencement of construction of earlier announced facilities still gives hope that the Serbian construction industry will stand on its feet again.

It is most likely that New Belgrade and Block 65 will soon become the new center of the capital, since PSP Farman started the construction of WEST 65 complex in June 2011.

Some "new investors" appeared in their neighborhood. Former owners of Marbo, which were first mentioned as interested potential buyers of Jat, drew the attention of eKapija's readers with their announcement of the construction of a residential and business center in the in the vicinity of Belville residential complex.

Mass construction, initiated by the state, is still in the focus, but it seems that our readers found the announcement of construction of a complex in New Belgrade's settlement Dr Ivan Ribar more interesting than the already commenced construction of Stepa Stepanovic complex, which should receive its first tenants as early as in spring 2012.

As our research over the last few years has already showed, investors are still interested the most in Belgrade. The only exception is the U.S. company Clean Earth Capital, which bought the land lot formerly occupied by Bubanjski Heroji barracks in Nis, on which it plans to build hotels, a shopping mall, an university and residential buildings.

(WEST 65)

The first-ranked investment on our list is last year's runner up - the WEST 65 Project. The first phase of construction of this residential and business complex in New Belgrade's Block 65, in which the Serbian-Russian company PSP Farman plans to invest over EUR 160 million, kicked off in June.

The complex named WEST 65 will look like a new, small town in New Belgrade. According to the architectural design of Fletcher Priest studio from London, this 152,437-square-meter complex will comprise a business section with 100 outlets and suites, spanning a total of 37,058 square meters, in addition to residential buildings, which will be situated on the opposite side of the block from Omladinskih Brigada street. The complex will be dominated by a 39-storey business tower 146 meters high.

The second place belongs to Dr Ivan Ribar residential complex. The state is going to open another big building site in Belgrade. A residential complex comprising 6 identical buildings, with a total of 768 apartments (128 apartments per building), will be built in Dr Ivana Ribara Street in New Belgrade. All works are expected to be finished until 2013.

(Dr Ivan Ribar residential complex)

The total value of this project is estimated at EUR 46 million, and the author of the preliminary design is Belgrade-based RAUM.

As we already mentioned, unlike others, the US company Clean Earth Capital decided to invest in a project in southern Serbia. The third-ranked story on our list is the announced construction of a complex in the location of former Bubanjski Heroji barracks in Nis.

The US company bought the land for about EUR 1.5 million. According to the announcement by CEO and co-owner Phillip Harold Bay, the company plans to build hotels, a shopping mall, an university and residential buildings on a 15-hectare area, and it will take between 8 and 10 years to finish the construction of the entire complex, which is expected to start in six to eight months.

(complex in Block 67a)

The fourth on this list is a project that can be compared to a mirage. Namely, the media once wrote about an idea of former owners of Marbo Produkt, Andrej Jovanovic and Bojan Milovanovic, to invest in a complex that would be a competitor to Belville, and that one-off announcement was enough to attract our readers' attention.

According to earlier announcements, Jovanovic and Milovanovic decided to invest the money from the sale of the salty snacks producer Marbo Produkt in the construction of a residential and business complex in Block 67a. On a land spanning 3.6 hectares, between streets Jurija Gagarina and Omladinskih Brigada, a hotel, a shopping center, apartments and office space are planned to be built.

Last year's winner, the Stepa Stepanovic project, ranks fifth on the list for 2011.

(Stepa Stepanovic complex)

The investor is the Serbian Construction Directorate, and the first tenants should be able to move into the complex in spring 2012. The first 1,450 apartments are expected to be finished until then, while all 4,578 apartments should be completed until the year's end.

About EUR 250 million will be invested in this project, which should provide jobs for about 30,000 people. The Army of Serbia will get about 1,000 apartments in exchange for the land formerly occupied by 4. juli barracks, on which this complex is now being built.