Real Estate EN Volume 22

ISSN 2812-7293

M A G A Z I N E | APRIL NO. BROJ 2217| JULY / AUG 2022.

2023 N R EE KA R E L T ENSI T N AE T, ED, I ZD AE JS NI G &N S&T I LL I FŽ EI V S T O YT L AE

EXPO 2027

A GREAT INVESTMENT AND DEVELOPMENT CHANCE FOR SERBIA AND BELGRADE THE REGION IS ON THE RADAR OF COMMERCIAL REAL ESTATE INVESTORS

SOLAR PANELS FOR SUSTAINABLE BUSINESS

A NEW WAVE OF GREEK INVESTMENTS IN SERBIA

CONTENT

THE PEAKS

08 MONTENEGRO'S FIRST GOLF RESIDENCES VILE ZUCE

12 THE PRIVILEGE OF LIVING IN NATURE RECONSTRUCTION OF NOVKABEL

16 THE HIGHEST STANDARDS OF ENERGY EFFICIENCY 18 CONSTRUCTION OF THE NEW FAIR COMPLEX HAS STARTED

54 RHODES: ISLAND OF THE SUN AND KNIGHTS BOR HOTEL BY KARISMA

MILOVAN NOVAKOVIĆ, COLLIERS MONTENEGRO

60 DESIGN THAT PUSHES 42 COMMERCIAL REAL BOUNDARIES ESTATE DEVELOPMENT AS A REGIONAL TREND INTERIOR CTP

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30 NEW WAVE OF GREEK INVESTMENTS IN SERBIA

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TRAVEL

62 OPEN CONCEPT LIVING ROOM ARCHITECTURE

68 FROM IDEA TO 3D VISUALIZATION

50 TOGETHER FOR THE FURNITURE DESIGN GREEN CITIES OF SERBIA 70 WHEN THE

MARIA LEVANTI, AMBASSADOR OF GREECE

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38 THE LEADER OF THE SUSTAINABLE HOTEL INDUSTRY

48 GREEN TRANSITION OF THE INDUSTRIAL SECTOR

EXPO 2027

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ZAFIRIS LAMPADARIDIS, HYATT REGENCY BELGRADE

INDUSTRIAL CHANDELIER COMES WITH A SOUL

STOP SHOP

52 PIONEERS OF GREEN BUILDING

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EDITORIAL

GREEN OPPORTUNITIES OF THE REGION

MAGAZINE NO 22 | JULY / AUG 2023 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 ART DIRECTOR

Ilija Petrović IndigoChild

indigochild.ilija@gmail.com

EDITORIAL OFFICE

Jovana Nikolić Petra Vasiljević Petar Dobrosavljević Ana Kralj PROOFREADING

Danica Grujić TRANSLATOR

Jovana Nikolić +381 11 4320 501

redakcija@realestate-magazine.rs

PRINTING

Zlatna Knjiga Jagodina Bagrdanski put bb, Jagodina PUBLISHER

West Media World Baba Višnjina 38 Vračar, Belgrade Publisher is not responsible for the content of published advertisments.

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CIP - Каталогизација у публикацији Народна библиотека Србије, Београд 659 REAL Estate magazine : real estate, design and lifestyle / editor-in-chief Gordana Knežević Monašević. - [English ed.]. 2021, no. 15- . - Belgrade : West Media World, 2016- (Jagodina : Zlatna knjiga). - 28 cm Tromesečno. - Preuzima numeraciju srpskog izd. Ima izdanje na drugom jeziku: Real Estate magazin (Srpsko izd.) = ISSN 2466-4170 ISSN 2812-7293 = Real Estate magazine (English ed.)

COBISS.SR-ID 53491721

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he green transition of the real estate industry is no longer a wishful phrase, an imagined goal, or some future. It is already happening to us now and here. If you carefully take a look inside this summer issue of the magazine, in which we visited a large part of the region, you will notice that all the investors and companies we presented think, do business, and build green. Although we did not choose them according to that criterion, when we arranged the pages, it turned out that there is no current project, be it residential or commercial, that is not green in the true sense of the word—energy efficient, sustainable, with the least possible harmful impact on the environment and maximum benefits for the community in its immediate environment.

The high green awareness of investors and developers in the region is even more encouraging when we consider that we are talking about a part of Europe where green construction and sustainable business are not yet precisely regulated by laws and binding, but they are clearly the right path that will bring us closer to the advanced and developed world. Or, even better, they are the path that will bring that world to us. And this is an opportunity that the region should take advantage of right now.

The sector that definitely currently has the greenest perspective in the region and the greatest chance for new investments and further development is the commercial real estate sector, especially when it comes to industrial and hotel facilities. Large international developers are paying close attention to this perspective and are developing projects in the region that, with their high quality and sustainable standards, will attract the largest and most advanced companies and brands for whom only green is good enough. With all the advantages we have as a region—geographically, infrastructurally, and in terms of human resources—we will not be attractive if we do not develop green projects. The world’s best companies are looking for the best conditions for their business and

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their employees, and only certified green facilities can provide that. This logic is best seen in the example of the expansion of CTP Group’s operations in Serbia, which, precisely thanks to the consistent application of the green strategy in the construction and management of its industrial-logistics parks, will in the coming period double its capacities in our country and be ready to meet even the most stringent requirements of its future tenants.

The greater presence of large international companies contributes to a much more dynamic business life and a greater variety of visits in the entire region, which in turn inevitably revives other sectors of the real estate industry, especially the hotel industry, which, in global terms, has already advanced far in the application of green and sustainable standards. Wellknown international hotel brands, just like large developers of industrial and commercial real estate, are adapting to a new generation of clients who are looking for only the best, and this cannot be achieved without a green agenda in the full sense of the word. Many well-known hotel brands have already come to the region, and the fact that, in addition to the Hyatt Regency Belgrade hotel, which was the only Hyatt hotel in the region for more than 30 years, this renowned brand and leader in the sustainable hotel industry will soon have as many as four hotels in the region, of which two are in Serbia, best speaks of the perspective and potential of the Western Balkans.

A great green opportunity for Serbia, Belgrade, and the entire region is the construction of a new fair complex in Surčin, for the needs of the specialized exhibition EXPO 2027, which already, in the preparation phase, attracts a large number of foreign companies. It only depends on us whether we will keep them.

Your...

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NEWS

BELGRADE WATERFRONT SOLD ITS 6,000TH APARTMENT

he most modern neighborhood in the capital, Belgrade Waterfront, located in the city center on the banks of the Sava, revealed that the complex’s milestone 6,000th apartment has been sold. The fact that on average more than 110 apartments are sold per month in this Belgrade neighborhood speaks volumes about the customers’ trust in this company and the quality of construction. It is a settlement that is built according to the highest standards and provides tenants with amenities that they will not find in other places in Belgrade.

The superior quality of the apartments and the fantastic location also influenced the decision of the 6,000th buyer to choose an apartment right at Belgrade Waterfront. It is Dragana Bošković, and her choice fell on the BW Nika building. The Bošković family can’t wait to receive the keys to their new apartment with large windows and a terrace, where they will enjoy the most beautiful view. This family of four was additionally attracted by the fact that BW Nika, like all other buildings in Belgrade Waterfront, has a lobby with a reception and security at the entrance. However, Dragana singles out the proximity of the most modern sports center, BW Apollo, as the biggest advantage, which ideally fits into her family’s lifestyle.

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DOLCE VITA RESIDENCE: A UNIQUE CONCEPT OF LIVING IN A BUILDING WITH A HOTEL t an exceptional location in New Belgrade, at the intersection of Tošin Bunar and Milutin Milanković Boulevard, Dolce Vita Residence, a high-end residential and commercial complex with a hotel, is being built, offering its future tenants a completely new level of luxury and comfort. In the heart of the New Belgrade modern business zone, perfectly connected to all parts of the city and yet perfectly tucked into the hill below Bežanijska Kosa, Dolce Vita Residence will provide its tenants with peace, quiet, and enjoyment on the spacious terraces due to its location.

Within the complex, designed on eight floors with a hotel in the front part of the building, there are three- and four-room apartments with large square footage, from 92 m2 and up, as well as two penthouses and three duplexes. The complex has a three-level garage with 105 parking spaces, chargers for electric vehicles, storage rooms, and a room for bicycles. Swimming pool, spa center with sauna, gym, tennis court with US open surface, playroom and children’s park, and restaurant are just some of the hotel amenities that will enrich and facilitate the daily lives of the tenants and qualitatively push the boundaries of the housing concept.

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PROJECTS

MONTENEGRO’S T FIRST GOLF RESIDENCES The Peaks neighborhood - the synonym of quiet luxury trend Text and photo: LUŠTICA BAY

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he first golf residences in Montenegro have been presented this summer in Luštica Bay, a modern and vibrant town that is developing on the Adriatic coast. These residences are situated next to a future 18-hole professional golf course, giving the destination a prestigious status and adding a new lifestyle dimension to life on the Montenegrin coast. This outstanding residential complex under construction in Luštica Bay offers an unparalleled inve-

stment opportunity and is already generating interest in the global real estate market. Given that the construction of the complex has just begun, the first golf residences tenants will receive their keys as early as next year.

The Peaks, with an elegant residential collection next to the future golf course, is the third settlement within the current phase of development of the Luštica Bay project and represents a kind of crown for this integrated coastal town. The first neighbourhood available on the market, Botanika, embodies the vision of the integrity of The Peaks neighborhood. The Botanika project design, inspired by the traditional stone house of Montene-

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THE SCENT OF SALT IN THE SEA BREEZE AND A SPECTACULAR VIEW OF THE EXPANSIVE SEA MAKE STAYING IN THIS COMPLEX TRULY DELIGHTFUL gro, is a collaboration between the renowned Greek architectural studio Block 722 and the locally based design firm NRA Atelier. The spacious apartments, townhouses, and villas offer a view of the Adriatic and the gentle terrain where the future first holes of the Gary Player signature golf course will be. The construction of Botanika features natural materials, such as local stone, on the facades, borders,

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and backyards. The stone wall is also a feature of some interior spaces, while wooden elements are the main feature of the refined, comfortable, and spacious interior.

Botanika’s residential portfolio includes seven villas, 12 townhouses, and 39 apartments. The most exclusive part of Botanika consists of modern villas, ranging in size from 357 m2 to 435 m2, on a plot that covers approximately 1,000 square meters. The architects prioritized outdoor living, designing large terraces with a summer kitchen and dining area, an outdoor shower, an elegant infinity pool, and a fire pit.

Refined, contemporary interior design of spacious villas “frames” the view of the Adriatic through high windows and double doors that give the space abundant natural light, air flow, and a feeling of airy lightness. The stone wall, along with the fireplace, is the main feature of the living room. The

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bathroom is a haven of relaxation with its stone accent wall, high-quality porcelain wall tiles, exquisite ceramic floor tiles, and luxurious bathroom fittings and sanitary ware. The convenience of a garage, internal storage spaces, audio intercom security access, and electric underfloor heating throughout the villa further elevate the comfort of living.

The townhouses, each covering 215 m2, feature three spacious, cozy, and tastefully decorated rooms. The houses are equipped with modern, high-quality furniture and all modern comforts for an extended stay and life in this destination.

These facilities embody the “quiet luxury” trend, featuring a private pool, terrace with outdoor dining, outdoor kitchen and shower. Each house comes complete with the added convenience of a covered parking space.

Botanika neighbourhood features apartments, ranging

REFINED, CONTEMPORARY INTERIOR DESIGN OF SPACIOUS VILLAS, ‘FRAMES’ THE ADRIATIC VIEW THROUGH HIGH WINDOWS AND BIFOLDING DOORS, CREATING ABUNDANT NATURAL LIGHT, AIR FLOW, AND A SENSE OF AIRY LIGHTNESS from one to three bedroom, sized between 100 - 170 m2. Each apartment has a balcony and a terrace that frame the harmonious appearance of these residen-

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tial units, with a view of the Adriatic Sea and the entire Luštica peninsula. The swimming pool is located just a few steps from the residence.

Botanika sets new standards of excellence, harmoniously valorizing local architectural heritage and the spirit of past times that integrate with refined, timeless interior design.

Blending local heritage and modern trends, we honour Luštica Bay’s authenticity & lifestyle, drawing global travelers, realty experts & investors to Montenegro. Proudly, Botanika’s property purchase is a sound investment due to prime golf course location, exclusive owner benefits, and proven capital appreciation within our integrated town’s ongoing growth,” declared Luštica Bay’s management.

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Photo: www. vilezuce.rs

NEWS

VILE ZUCE: A PRIVILEGE OF LIVING IN NATURE

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ocated in an ideal place for living, surrounded by nature and lush greenery, and at an optimal distance from all important city points and highways, between Avala and the IKEA shopping center, the residential complex VILE ZUCE is being built. The complex features six identical luxury villas, with the ground and first floor.

The complete new infrastructure of the complex includes an asphalt approach, city water supply, sewage system, electricity and optical network.

Modern villas offer their residents unique design, first-class furnishing, and top comfort with high ceiling, French balconies, spacious terraces with luxurious greenery, providing shade and privacy, and completely decorated fenced yard with private pool. A new home will give residents much-needed peace and refuge from the noisy and stuffy city. Each villa consists of a spacious living room with kitchen and dining room, five bedrooms, three bathrooms, an open terrace on the first floor, a covered garage with two comfortable parking spaces on the ground floor, a laundry room, and a storage room.

Completion of the complex is expected at the beginning of next year.

If you decide to buy your new family home in the early stage of construction, you will have the freedom to influence the interior layout, finishing of the interior, pool dimensions, as well as additional yard decoration.

Experience magical mornings in nature, breathe in the fresh air with your lungs fully! Let untouched nature wake you up instead of city noise!

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Photo: Nebojša Tatomirov

NEWS

Photo: Nebojša Tatomirov

A UNIQUE TOURIST COMPLEX IN CROATIA, PETRAM RESORT & RESIDENCES, OPENED IN SAVUDRIJA

Mihailo Janković, CEO, MK Group

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n the presence of a large number of dignitaries from social and public life, Petram Resort & Residences, a distinctive hotel-residence complex with integrated premium amenities and services that provide a five-star vacation experience, was recently opened in Savurdija. The Petram Resort & Residences represents MK Group’s investment in Croatian tourism, which has a value of more than 100 million euros and was carried out in partnership with Aleksandar Group.

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The complex covers almost 85,000 m2 and consists of 55 villas and 197 apartments of modern design, built according to the highest standards of green construction. In addition to the accommodation facilities available for rent or purchase, the resort offers guests three restaurants, two swimming pools, a beach, wellness and sports facilities, as well as property management with 24-hour support. Petram’s trademark is the longest infinity rooftop pool in Europe, 105 meters long.

On behalf of investors MK Group and Aleksandar Group, Mihailo Janković, general director of MK Group, addressed the gathered guests. “This project is a synergy of the rich experience that Aleksandar Group has in construction, with over two million square meters built, and the expertise of MK Group, which has been operating in the luxury hotel industry for 15 years. We entered this project believing in the potential of Savudrija, and Petram has become a symbol of the new, cosmopolitan Istria for us. The development of this destination while preserving its values is one of the promises that MK Group makes in the year of the great jubilee, when we celebrate 40 years of creation,” said Janković.

“This kind of investment in Croatian tourism contributes to the quality and diversification of the destination, and I believe that they will further enrich the tourist offer of Istria. I am glad that this premium tourism project respects all the principles of sustainability because it is the main strategic direction for the development of Croatian tourism. The Government of the Republic of Croatia will continue to create an encouraging and safe investment environment in tourism,” said Nikolina Brnjac, Minister of Tourism and Sports of the Republic of Croatia.

The official opening of Petram Resort & Residences was attended by Vili Bassanese, the mayor of Umag. “The benefits that Petram Resort brings—the impact on employment, the use of top indigenous products, the impact on gourmet and sports tourism—are the benefits of the entire community. I am glad that another valuable investment was realized in the area of Umag, and I thank everyone who participated in the realization of this project”, said the mayor of Umag.

More than 100 construction companies, over 60 suppliers of various equipment, and more than 1,700 workers participated in the Petram Resort construction project over the past two years. This is MK Group’s second major investment in the area of Savudrija, where the Kempinski Adriatic hotel, which is owned by this company, is already successfully operating.

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IT CENTER INGRID OPENED IN THE RECONSTRUCTED NOVKABEL HALL n June, Schneider Electric opened its new IT center called InGrid in the reconstructed hall of Novkabel in Novi Sad. A modern open office space with a lot of light and greenery, covering 14,500 m2, is located in a renovated and redesigned factory of a former industrial giant, where the first personal computers in the former Yugoslavia were made in the late 70s and early 80s.

The extensive reconstruction and conversion of the former industrial hall lasted three years. The author of the reconstruction project is the Belgrade architectural studio Zabriskie, while the project management was entrusted to the company Novaston. The complete works were carried out by the Novi Sad-based company Best Izgradnja, while the engineering and supervision were entrusted to Axis from Novi Sad. The reconstructed building was designed with the aim of being carbon neutral. It is interesting that during its reconstruction, every tree was preserved. Along the facade itself, a three-meter-wide green ring with a variety of plants has been formed. The entire functional organization resulted from the idea to integrate greenery, transparency, and light as much as possible into the work space while at the same time providing the highest standards in terms of energy efficiency and all aspects of the comfort of a modern work space for more than 700 employees.

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Photo: Miloš Martinović

NEWS

The building will have a LEED Gold certificate by the end of the year and is considered carbon neutral, given the fact that it will use electricity exclusively from renewable sources for heating, cooling, and ventilation purposes. The facility is supplied with green energy from its own production. 1,500 m2 of solar panels have been installed on the roof, while the rest of the energy with a green certificate will be compensated by purchasing it from the grid. It is estimated that around 20% of the total annual energy consumption will be obtained from own production.

Within the building, employees have 1,000 m2 at their disposal for two rooms where servers are located, an additional 500 m2 of auxiliary rooms in the data center, an amphitheater with 200 seats, four atriums of 700 m2 with greenery, 11 kitchens, 54 meeting rooms, 28 soundproof rooms, four training rooms, a gym with showers, a prayer room, 3 secure rooms, 350 parking spaces with 10 electrical chargers, and 4 elevators.

For the reconstruction and revitalization of the old building, all dismantled material from the construction site was used, which is one of the initial principles of sustainability. A big benefit for the location, resulting from the LEED certification, is the renewed bicycle and pedestrian paths to and within the complex, and the bus line that used to run there will be reactivated.

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IN FOCUS

CONSTRUCTION OF THE EXPO 2027 COMPLEX HAS STARTED Preparatory works for the construction of a number of fair halls, pavilions, accommodations, and commercial facilities in Surčin for the needs of the specialized exhibition EXPO 2027 started back in May, and currently the clearing of the terrain and the construction of several roads are underway. Here is what will be built in the next five years and what benefits this project worth 300 million euros will bring to Serbia By: JOVANA NIKOLIĆ

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Photo: GRAD BEOGRAD

ince the works on the construction of the new fair complex in Surčin, where EXPO 2027 will be held, have already begun and the enormous work that lies ahead should be completed before the deadline in less than five years, it is no longer news that Serbia has been officially chosen as the host of the international exhibition EXPO 2027, but it is worth mentioning once again that in June we won in all four rounds of voting at the Bureau International des Expositions (BIE) General Assembly in Paris.

In all four rounds, Serbia received the most votes, and Spain was its only opponent in the final round.

Along with the USA, Thailand, Spain, and Argentina, Serbia was one of the five competitors for this exhibition. With 81 votes, BIE members selected Serbia as the host nation, defeating Spain’s 70 votes.

Serbia was the only country from Southeast Europe that applied to be the host country of this prestigious exhibition.

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EXPO 2027 WILL BE HELD IN BELGRADE FROM MAY 15 TO AUGUST 15, 2027, WITH THE THEME “PLAY FOR HUMANITY: SPORT AND MUSIC FOR ALL” Serbia will have a great opportunity and a flywheel for development as the host of EXPO 2027, especially in the construction and tourism industries, as a whole complex with supporting infrastructure should be built for the exhibition’s purposes in addition to the National Stadium, which is anticipated to welcome about three million visitors during the exhibition itself.

FAIR COMPLEX IN SURČIN AMONG THE LARGEST IN EUROPE “Right now, we may not even be aware of how important this is. It’s about thousands of new jobs, JULY/AUGUST 2023

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THE EXPO 2027 COMPLEX INCLUDES SEVEN BUILDINGS ON APPROXIMATELY 70,000 SQUARE METERS. THE INITIAL PROJECT IS SIGNED BY THE SPANISH ARCHITECTURAL STUDIO FENWICK IRIBARREN ARCHITECTS, WHICH WAS ALSO THE AUTHOR OF THE RECONSTRUCTION OF SAVSKI TRG IN BELGRADE a unique opportunity to attract hundreds of thousands of people who have never been to our city, to create new jobs for our companies,” said Marko Čadež, president of the Serbian Chamber of Commerce and Industry (CCIS), who stated earlier that the net value of the investment necessary for the realization of EXPO 2027 amounts to 300 million euros.

According to him, the specialized exhibition EXPO 2027 will bring ten times greater benefit to Serbia than the income itself because, in addition to the employed construction operatives and tourist capacities, foreign investors and future business partners of domestic companies will come.

“The real value of this event is the companies that will come and invest in Serbia and our com-

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panies that will create new businesses; that opportunity is priceless. It is something that will remain forever,” said Čadež, stating that numerous international companies are already announcing their arrival at EXPO 2027.

As the president of the Serbian Chamber of Commerce pointed out, many domestic workers will be employed in the organization and infrastructural equipment of this world exhibition.

“The new fair complex in Surčin will be among several of the largest fairs in Europe, and we must take advantage of that. After that, people will recognize Belgrade as the place where the biggest fairs will be organized. This is what remains when it comes to infrastructure. But much more remains. Companies that will come during the preparation of the EXPO and during the exhibition have great potential. To bring them to Serbia, to bring new investments, and to already see how Belgrade is developing. Some of them want to move their centers to Belgrade”, said Čadež.

CONSTRUCTION OF TRAFFIC INFRASTRUCTURE EXPO 2027 will be held in Belgrade from May 15 to August 15, 2027, with the theme “Play for Humanity: Sport and Music for All”. For the purposes of www.realestate-magazine.rs

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the exhibition, it is planned to build a number of fair halls, pavilions, accommodations, and commercial facilities next to the National Stadium in Surčin.

The EXPO 2027 complex will cover approximately 167 ha. 113 ha are planned for the construction of the EXPO 2027 complex: 83.1 ha for the exhibition space, 6.9 ha for the accompanying accommodation facilities, and 22.9 ha for the accompanying commercial facilities.

This makes up almost 70% of the planned 167 ha. The rest refers to traffic areas, water areas, green areas, and infrastructure areas.

Work on the construction of the EXPO 2027 complex, which is located south of the National Stadium, between the Belgrade ring road and the Miloš Veliki highway, has already begun, confirmed Marko Stojčić, the city’s chief architect.

More precisely, the terrain was cleared, and the construction of the traffic infrastructure began.

“Some access roads have already been built; some are under construction. Basically, it’s a fiveyear job. What follows is further clearing and filling of the ground, since the level on which the facilities will be built, that is, the National Stadium complex, the future fair space, and the area where the EXPO will be held, needs to be raised,” explained Stojčić.

The city’s chief urban planner pointed out that it is of the utmost importance that this space be as well connected to the city as possible.

“This is something that we proved during our candidacy, in front of the authorities that awarded us this EXPO. We proved that the location is well connected with the city, and above all, we will be able to complete the work by the deadline. This is a very big event, and we can’t play around with whether we will make it or not. So, compared to other competitors, we were at an advantage because we had already started the work,” said Stojčić.

As for the traffic network, it will consist of several different types of traffic. It is planned to connect with the existing Vojvodjanska street and make connections to the section of the E-75 road, the Belgrade ring road, as well as the Novi Beograd-Surčin section as part of the E-763 highway.

The spatial plan also plans to connect this area with the Nikola Tesla airport via the route of line 4 of the BG train, and the possibility of connecting with the center of Belgrade via water transport is also open.

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The EXPO complex includes seven facilities totaling about 70,000 m2

EXPO 2027 IN BELGRADE IS EXPECTED TO BE VISITED

BY AROUND THREE MILLION PEOPLE. THE TOTAL ESTIMATED ECONOMIC EFFECT OF EXPO 2027 IS 1.1 BILLION EUROS ENERGY-EFFICIENT AND SUSTAINABLE BUILDINGS As part of the EXPO 2027 complex, the construction of seven buildings on approximately 70,000 square meters is planned. The initial project is signed by the Spanish architectural studio Fenwick Iribarren Architects, which was also the author of the reconstruction of Savski Trg in Belgrade. What follows is the further development of the project and possible changes in accordance with the received suggestions.

“Now we will beautify the architecture a bit to work out the projects for each of the buildings.

There are seven of them, and each of them has an area between 9,000 and 11,000 square meters. That’s a total of about 70,000 square meters of fair space, where EXPO 2027 will be held.

We expect the participation of about 100 countries that will have their own exhibition spaces

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within those facilities. At the end of the complex, there will be four pavilions related to the theme itself and the central Serbian pavilion, which will, of course, deal with that theme,” said Stojčić.

Between all these buildings, there will be a large promenade with cafes, restaurants, and installations, which will be located in that outer space and all of which should later serve as perhaps the most important fair space in the Balkans.

According to Stojčić, the buildings are planned to be energy-efficient and sustainable and to be used even after the big event, since it happens that such complexes lose their functions after the exhibition. In essence, the EXPO 2027 complex is planned as a multifunctional space that, after the exhibition, should grow into an important economic and tourist center for the city of Belgrade and the Republic of Serbia.

At the World Congress of Chambers in Geneva, Marko Čadež spoke with the new president of the Dubai Chamber of Commerce, Ali Rashid Lutah, about support for the organization of EXPO 2027.

“We made an agreement based on which they will provide us with professional and technical support for the organization of new services of

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The EXPO complex will be located next to the National stadium

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the Serbian Chamber of Commerce and Industry for this exhibition. Given the extensive experience and the role of the Dubai Chamber in the organization of EXPO 2020 Dubai, we will try to learn as much as possible,” said Čadež.

EXPO 2027 in Belgrade is expected to be visited by around three million people. The total estimated economic effect of EXPO 2027 is 1.1 billion euros (estimated direct economic effect is 600 million euros, estimated indirect economic effect is 500 million euros, and estimated net profit is 9.82 million euros).

“We expect more than 100 participating countries, a dozen international organizations, and five to ten corporate pavilions. Also, we expect that around three million people will visit Belgrade and Serbia during that period. We all know that the geographical position of our country is very favorable. We are in close proximity to a huge market of 460 million people. Or, divided into two segments: the regional market of 66 million people within a radius of 500 kilometers, i.e., a maximum of six hours’ drive, and the international market of 400 million people within a radius of 1,250 kilometers, i.e., a twohour flight by plane”, said Siniša Mali, Minister of Finance and President of the Working Group for the preparation and submission of a candidacy for the organization of the International Specialized Exhibition EXPO 2027.

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“THE EXPO MEANS GREATER ECONOMIC GROWTH AND AN EVEN STRONGER ECONOMY BECAUSE OUR COUNTRY WILL BE IN THE FOCUS OF THE WORLD PUBLIC DURING THIS SPECIALIZED EXHIBITION. WE WILL SEND A POSITIVE IMAGE OF BELGRADE TO THE WORLD; WE WILL SHOW THAT WE ARE A CITY AND A COUNTRY OF OPPORTUNITIES” (SINIŠA MALI, MINISTER OF FINANCE) THE FIRST EXPO IN SOUTHEAST EUROPE AFTER 30 YEARS According to the minister, we have enough time, but we will not waste it, because the realization of this big project, which will bring our country an influx of money, investments, further development of tourism, catering, and new jobs for our economy, has started immediately.

“The EXPO means greater economic growth and an even stronger economy because our country will be in the focus of the world public during this specialized exhibition. We will send a positive image of Belgrade to the world; we will show that we are a city and a country of opportunities that are developing, progressing, and unstoppably moving forward. This is important news for the entire region, considering

The capacity of the National stadium should be around 55,000 seats

that we are bringing the EXPO to the region of Southeastern Europe after more than three decades”, stressed the Minister of Finance.

The last specialized EXPO of this type was held in Astana, Kazakhstan, in 2017, and it significantly changed the image of that city in the world, which thus positioned itself as an important world metropolis and where many world leaders stayed. Previous hosts of such exhibitions were Zaragoza, Lisbon, Vancouver, Brisbane, New Orleans, Berlin, Munich, Rome, Paris, Helsinki, and Stockholm, which is another confirmation of the importance of this manifestation.

Given that the last exhibition of this type in the region of Southeast Europe was held in 1991 in Plovdiv, Belgrade is bringing EXPO to the region after more than three decades.

It will also be the first organization of such a manifestation on the territory of the Western Balkans.

Along the central promenade, there will be supporting facilities and facilities on the first floor (meeting rooms, etc.), which will be connected by bridges across the central promenade. All halls will be serviced from the rear via the service ring, with small warehouses and workshops.

THE PROMENADE AND CENTRAL SQUARE The seven main buildings of the fairgrounds will be located next to each other along the central promenade. The planned width of the promenade is 40 m, and it widens to 60 m to create a central square in front of the main entrance building. The promenade is planned to be decorated with greenery, and

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The National Pavilion of the Republic of Serbia, which will be the focal point, will be located at the end of the central promenade. The main thematic pavilions and other independent international pavilions will be located in the side areas. a water channel will flow through it. Rest areas and pop-up kiosks will also be planned, which will facilitate movement between the halls.

The halls will be connected by a 30-meter-wide corridor at the back, which enables communication between them. Between the halls and next to the main promenade, there will be smaller, more intimate outdoor landscaped squares that provide pleasant, terraced areas for food and drink offerings.

A landscaped and covered circular path will frame the main pavilion and the central lake immediately in front of the central outdoor amphitheater, where a whole range of sports, music, and entertainment activities will be held.

Suitable externally decorated and adapted spaces are planned around the circular path for the organization of a wide range of activities and events that will further direct visitors to the external pavilions.

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Photo: Delta Real Estate

NEWS

DELTA REAL ESTATE APPLIED INNOVATIVE MEMORY STEEL TECHNOLOGY IN THE RECONSTRUCTION OF THE SAVA CENTER elta Real Estate implemented another innovative technological solution within the Sava Center reconstruction project that has not been implemented in Serbia or in this part of Europe until now. We are talking about the Memory Steel technology, which has been used in only a few countries so far: Switzerland, Austria, the Netherlands, the Czech Republic, and now here in Serbia.

In cooperation with Fiber Plus, the designer and specialized contractor of the strengthening project, and the Sika company, the leader in the production of special materials in the construction industry, the aforementioned technology was officially used for the first time on Thursday, July 13, at the rehabilitation of the beam at the Sava Center construction site.

“During the construction of the Sava Center, almost 50 years ago, the latest innovative technological methods were applied. The

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criteria set for the building are in accordance with our business policy, and a particularly innovative approach in the repair of beams is for us to respect the cultural monument that we are working on restoring. The key factor was certainly the preservation of the interior of the Sava Center. Memory Steel technology, as the newest and most efficient on the market, was the only logical solution for all our requirements,” said Dušan Filipović, manager of design and construction at Delta Real Estate.

The Sika Memory®-Steel System is a technology for active strengthening of structures based on so-called alloys with shape memory. Such an alloy remembers its original shape and changes the atomic structure of the crystal lattice when it is prestressed in the longitudinal direction. During activation (the heating process at the construction site), deformation occurs back to the original and more stable structure of the crystal lattice. If this deformation is prevented by adequate anchoring for the concrete structure, prestressing of the structure occurs without loss of force due to friction in the memory steel.

Delta Real Estate is a group that has been operating for more than 20 years, with built more than 600,000 m2 and and total investment of 800 million euros. Due to continuous innovations, it takes the place of a pioneer in many business segments. The Sava Center project, currently the most important project of the company, requires a high degree of innovation, precisely for the reason of preserving the perfect balance between the quality of construction and the history of the cultural monument.

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EXCLUSIVE

Her Excellency

MARIA LEVANTI

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UNITED IN EFFORTS FOR THE PROSPERITY OF THE ENTIRE REGION Several new significant Greek investments realized in recent years, the emerging of many new Greek SMEs, as well as the expansion plans of Greek companies already existing in the Serbian market, are clear indicators that Greece's interest in investments in Serbia is reviving strongly, says Her Excellency Maria Levanti, Ambassador of Greece to Serbia, in an interview for our magazine By: GORDANA KNEŽEVIĆ MONAŠEVIĆ

Photo: DARIO KONSTANTINOVIĆ

uring the holiday season, when about a million of our citizens go south and enjoy with all their senses the charms of vacationing in Greece, the Ambassador of Greece to Serbia, Her Excellency Maria Levanti, spends her working day at the place where we all seek salvation in the summer—in the very center of Belgrade, in the building where the Greek embassy has been located for almost a century. She welcomes us there, admitting at the beginning of the conversation that she not only likes her workplace but also feels at home in Belgrade. Even though she knew a lot about Serbia before being named ambassador at the end of last year, she was nonetheless fascinated by how similar and close we are as people. We start the conversation with Belgrade; diplomatically reciprocal, we end with the Cyclades; and in between, we talk about everything that connects our two countries—from strategic partnership and intensive cooperation at all levels to significant investments in the Serbian economy and joint efforts to develop energy and transport connections, which are pillars of the prosperity and security of the entire region.

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Although you have rich diplomatic experience, this is your first ambassadorial mission, which, by chance, you are carrying out in a place with a history of almost a century since the Greek embassy in Belgrade was located in this building in Francuska Street even before the Second World War. Can you tell us more about the embassy building itself and how you like your workplace in the very center of Belgrade?

THE GREEK AND SERBIAN PEOPLES ARE INDEED VERY CLOSE; THEY SHARE STRONG HISTORICAL AND CULTURAL TIES, AND THEIR RELATIONS HAVE REMAINED EXCELLENT THROUGHOUT TIME — The Greek Embassy in Belgrade is located at the corner of Francuska 33 and Strahinjića Bana 76, in one of the most central areas of the historical center of Belgrade. The building was constructed in 1924 according to the standards of 19th-century aca-

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The embassy building was constructed in 1924 according to the standards of 19th-century academicism

demicism, and the first tenant of the originally two-storey mansion was Milivoje Pavlović, General Director of the Shipbuilders’ Union of the then Kingdom of Yugoslavia. The Greek Embassy was established there before the Second World War, and the building was radically renovated and modernized during the period 1997–2000. The location of the Embassy, in the very center of the city, is ideal for my work, first and foremost thanks to its proximity to most administrative buildings and to other work-related places of interest.

The Greek and Serbian peoples are bound by deep, friendly relations and fruitful cooperation in many areas. How much did you know about Serbia before you came to Belgrade at the end of last year, and what made the biggest impression on you during the seven months you have been living with us?

— The Greek and Serbian peoples are indeed very close; they share strong historical and cultural ties, and their relations have remained ex-

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THE BIGGEST SERBIAN INVESTMENTS IN GREECE AT THE MOMENT HAVE BEEN REALIZED IN THE RETAIL SECTOR AND INCLUDE THE COMPANIES LILLY DROGERIE AND SPORT VISION cellent throughout time. Because of my interest in the Balkan region, I had read quite a bit about Serbian history long before settling in Belgrade. At the same time, I was very fond of Serbian music, and whenever I had the chance, I watched Serbian movies, which were particularly popular in Greece in the 1990s. During these months that I have been living in the country, I would say that what has struck me the most is the realization of how similar we are as peoples. We are both outgoing and hospitable; we appreciate good food, and we enjoy life. Needless to say, I didn’t need time to adjust to my new life in Belgrade. Everything was somehow familiar to me.

According to official data, Greece is one of the largest foreign investors in Serbia. Total direct Greek investments are estimated at 1.5 billion euros, and with indirect investments, the value exceeds 2.5 billion euros. What significant investments were made in the last two or three years?

— Greece has been one of the most important and first investors in Serbia since the late 1990s.

Although there was a withdrawal of Greek economic activities abroad due to the hard years

GREECE HAS BEEN ONE OF THE MOST IMPORTANT AND FIRST INVESTORS IN SERBIA SINCE THE LATE 1990S. ALTHOUGH THERE WAS A WITHDRAWAL OF GREEK ECONOMIC ACTIVITIES ABROAD DUE TO THE ECONOMIC CRISIS, I AM GLAD TO NOTICE THAT GREEK INTEREST IN INVESTING IN SERBIA IS REVIVING STRONGLY

of the economic crisis, I am glad to notice that Greek interest in investing in Serbia is reviving strongly, already concluding with some new significant investments conducted in the last years, i.e., the new SuperVero-Jumbo hypermarket in Novi Sad, the Athens Stock Exchange acquisition of 10,24% of shares of the Belgrade Stock Exchange, as well as the emerging of many new Greek SMEs. To these I have to add the expansion plans of Greek companies already existing in the Serbian markets, mainly in industrial goods production, like the recently announced Alumil production unit expansion.

It is estimated that around 200 Greek companies are operating in Serbia, employing around 20,000 people. Which sectors are most attractive to Greek investors, and which companies stand out in terms of volume of business?

— Greek-owned companies in Serbia are involved in various business segments, from real estate to construction and infrastructure (high-

The building was radically renovated and modernized during the period 1997–2000

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panies have also invested in real estate. There is a strong interest, also among new investors, in new real estate investments, not only in buildings but also in land, in order to further develop and diversify their activities in Serbia.

ways or airports), the food and beverage industry and supplying chains, trade, banking, distribution of fuel and oil, hospitality, telecommunication, transport, aluminum profile, cement production, logistics, renewable energy sources, recycling, waste water treatment, etc. Their size varies accordingly, ranging from Sole Proprietorships and SMEs to large corporations and groups. We see a rising interest in the energy sector, primarily solar energy production and waste management.

Greek companies are the owners of several exclusive hotels and retail chains in Serbia, and Alumil is one of the leaders in the building materials industry. Are there any indications of fresh investment in Serbian real estate?

— As you mentioned, most of the existing com-

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Speaking of the real estate industry, how far has Greece advanced in the application of green and sustainable building? Are there green regulations that are binding on both the private and public sectors for the construction of new buildings and for improving the energy efficiency of existing buildings? Is there noticeable mass solarization in your country as well as in Serbia, that is, the installation of solar panels on both residential and commercial buildings?

— Over the last decade, Greece has made huge steps towards the application of green and sustainable building, as the demand for green buildings in Greece seems to be rising exponentially.

There is a change in the building construction rules towards strengthening energy efficiency in new constructions, either private or public (i.e., obligatory external isolation, pre-installation of smart home elements, and electric car chargers). Also, as far as already existing buildings are concerned, some of the measures taken include the introduction of the mandatory issuance of an energy certificate for all real es-

€1.3 billion in the energy-efficient renovation of more than 100,000 residences, including low-income households. The first subsidy programs for the installation of solar panels on residential and commercial buildings have also started being implemented, and they already seem to be a huge success.

ACCORDING TO THE DATA OF THE NATIONAL BANK OF GREECE, THE NET SERBIAN DIRECT INVESTMENTS IN THE REAL ESTATE SECTOR IN GREECE REACHED UP TO 7,5 MILLION EUROS IN 2021 AND 15 MILLION EUROS IN 2022

tate transactions and the introduction of a variety of incentives for the energy efficient upgrade of the buildings under the Energy Refurbishment Programs, which include subsidies and/or interest-free loans for the energy efficiency upgrade of old buildings. Greece’s Recovery and Resilience Plan includes investments of

It is no secret that Serbs are in love with Greece and its beautiful beaches and islands, that they are great friends with Greek hosts, and that it is their number one tourist destination every summer, but Greece is increasingly attractive to our citizens for buying real estate, not only for their own vacation but also as an investment. Do you have data on how many of our citizens own real estate in Greece so far, and what is the percentage, for example, compared to other foreigners?

— It is a pleasure for us to see that, among other countries, our Serbian friends have also start-

The Greek Embassy was established in this originally two-storey mansion before the Second World War

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ed investing in the Greek real estate market.

Even though the numbers are relatively small, there is a significant upward trend. According to the data of the National Bank of Greece, the Net Serbian Direct Investments in the real estate sector in Greece reached up to 7,5 million euros in 2021 and 15 million euros in 2022, up from almost zero in 2012–2013.

In what sectors is Greece most attractive to Serbian companies for investment, and where is there room for a larger volume of business?

— As far as I know, the biggest Serbian investments in Greece at the moment have been realized in the retail sector and include the companies Lilly Drogerie and Sport Vision. The visitor in the region of Northern Greece will surely notice that there are many small restaurants offering Serbian cuisine. Of course there are numerous other fields of common interest including agriculture, food and beverage, pharmaceutical industry, information and communication technologies, IT sector, tourism, trade, etc.

Serbia and Greece are facing an important energy and infrastructure connection via the Bulgaria-Greece gas interconnector and the

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Piraeus-Thessaloniki-Skopje-Belgrade railway. To what extent do our two countries cooperate not only in the fields of energy and infrastructure but also in the increasingly important green transition, innovation, science, and the IT sector?

GREECE IS READY TO SUPPORT SERBIA’S ENERGY DIVERSIFICATION BY ALL MEANS, THROUGH THE INTERCONNECTIONS BULGARIA-SERBIA AND NORTH MACEDONIASERBIA, ITS CONNECTION WITH TAP, AND THE LNG TERMINAL IN ALEXANDROUPOLIS — Energy diversification and transport connectivity are the major pillars of achieving prosperity and security in the region. Serbia, through the commencement of the construction of the Serbia-Bulgaria interconnection, has made a major step in this direction. In the same spirit, we also endorse and support the realization of the Serbia-North Macedonia gas interconnector project. The completion of the Piraeus-Thessaloniki-Skopje-Belgrade railway is

also of great importance, as it will facilitate not only trade and transport but also communication in the region.

Greece is ready to support Serbia’s energy diversification by all means, through the interconnections Bulgaria-Serbia and North Macedonia-Serbia, its connection with TAP, and the LNG terminal in Alexandroupolis.

Of course, it is also undeniable that there is plenty of room for our bilateral cooperation to be strengthened and improved. The Joint Declaration for the Establishment of a Strategic Partnership between Greece and Serbia, signed in December 2019, highlights this potential, as its provisions expand in all fields, including economy, energy, technology, and connectivity. Since 2019, the COVID-19 crisis, the Ukraine war, and their impact on the global economy and energy market have slowed down the process, but now is a good time to join forces again in order to improve the prosperity of our two countries. Greece is ready to support Serbia, not only by encouraging investments in the aforementioned sectors but also by contributing to its development by sharing knowledge and experience gained from its own green transition path and technological advancement.

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“I didn’t need time to adjust to my new life in Belgrade.

Everything was somehow familiar to me,” says Her Excellency

Most of our citizens, as we have already mentioned, will go to Greece this summer. What are your favorite places in Greece for vacation, and which places would you recommend to your friends from Greece to visit in Serbia and Belgrade?

— It is true that Greece, especially its northern part, is one of the favorite summer destinations for Serbs. Last year alone, we had the pleasure of hosting around one million people from Serbia in the country. I personally have several favorite areas in Greece. If I had to choose one place to spend my holidays, I would definitively choose the Cyclades. This cluster of islands in the Aegean Sea, with its wild beauty, its crystal-clear waters, and its unique architecture and cuisine, is for me the epitome of the summer holidays.

To my friends from Greece visiting Serbia, I would definitely tell them to spend a few days exploring Belgrade, walking in its beautiful parks and along the banks of the Sava and the Danube, visiting the city’s museums, especially the Museum of Yugoslavia and the Tesla Museum, and definitely tasting the city’s excellent restaurants.

I would then advise them to take a road trip to both the north and south of the country so they can discover Serbia’s unique natural beauty and the country’s excellent wineries.

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INTERVIEW

THE LEADER IN THE SUSTAINABLE HOTEL INDUSTRY Hyatt's strong brand identity, as a synonym for luxury and sophistication, instills trust and loyalty among travelers and obliges it to play a leading role in the hotel industry, which is moving in the direction of a sustainable future with the new generation of guests and their new habits, says Zafiris Lampadaridis, general manager of Hyatt Regency Belgrade hotel, in an interview for our magazine By: GORDANA KNEŽEVIĆ MONAŠEVIĆ

Photo: HYATT REGENCY BEOGRAD

s the first and only Hyatt hotel in the region for more than three decades, the Hyatt Regency Belgrade has become an iconic landmark of Belgrade, renowned for its exceptional service and creating memorable guest experiences. We asked Zafiris Lampadaridis, general manager of Hyatt Regency Belgrade hotel, how much its business model has changed in the meantime in accordance with new hospitality trends and the needs and lifestyle of a new generation of guests, why Hyatt hotel has an undisputed status in the increasingly competitive hotel market in Belgrade, and what the sudden expansion of the Hyatt brand in Serbia and neighboring countries means for the region.

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ZAFIRIS LAMPADARIDIS,

general manager, Hyatt Regency Belgrade

Hyatt Regency Belgrade was the first and only Hyatt hotel in the region for a long time. Has its status and significance, as well as its offer and business model, changed over the past 33 years, and if so, how much?

— Over the past 33 years, Hyatt Regency Belgrade has undoubtedly witnessed improvements in its business model, while its status and significance have remained the same as the hotel continuously plays a crucial role in shaping the hospitality landscape in Belgrade and adapts to meet evolving guest expectations and market trends. As the first and only Hyatt hotel in the region for a long time, Hyatt Regency Belgrade has become an iconic landmark in

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the city, renowned for its exceptional service and dedication to creating memorable guest experiences. While the hotel’s core commitment to luxury, impeccable service and guest satisfaction remains steadfast, the hotel has embraced change and innovation to stay ahead in a competitive market.

How much have hotel trends changed in general in recent years? What are the habits and lifestyles of the new generation of guests, and how does Hyatt adapt to them?

— Hotel trends have indeed undergone significant changes in recent years, driven by shifts in guest habits, lifestyles and preferences. The emergence of the new generation of guests, including millennials and Gen Z, has played a crucial role in shaping these trends. Hyatt, as a forward-thinking hospitality brand, has adapted to these changes to meet the evolving needs and expectations of this new generation. Through the integration of technological innovations, we have enabled authentic experiences for modern travelers by aiming to provide guests with a genuine sense of place and connection to the destination through personalization and creation of experiences tailored to their preferences.

We have placed sustainability and eco-consciousness at the forefront of our priorities, diligently working to diminish our environmental impact, foster energy efficiency and implement effective waste reduction programs. Furthermore, social responsibility and community engagement are of great importance with numerous initiatives. The commitment to making a positive impact on the environment and our local community resonates with socially conscious guests and aligns with their values.

Belgrade is evolving into the business center of the Balkans, and there is a growing selection of luxurious hotels and apartments to choose from. Can you feel that new Belgrade vibrancy and energy in your business, and why is Hyatt always Hyatt, despite the fact that Belgrade has an increasing number of high-quality and branded hotels?

— Hyatt Regency Belgrade has successfully maintained its distinct identity and continued to thrive, despite the increasing number of high-quality and branded hotels in Belgrade. We can tangibly feel the vibrant energy of Belgrade’s evolution into a prominent business center. As a result, the city offers a growing selection of luxury hotels and apartments, making the hospitality landscape competitive. However, Hyatt Regency Belgrade distinguishes itself through several key factors.

First and foremost, our unwavering commitment to excellence sets us apart. We consistently deliver exceptional service and strive to exceed guest expectations in every aspect of their experience. Our personalized approach ensures that each guest receives tailored attention and a memorable stay.

Furthermore, Hyatt’s strong brand identity plays a significant role in maintaining our prominence. Our brand is synonymous with luxury, sophistication and meticulous attention

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to detail. This recognition instills trust and loyalty among travelers, even with the expanding choices in the market.

Hyatt’s global network and esteemed loyalty program, World of Hyatt, offer additional value to our guests. With a wide range of properties worldwide and exclusive member benefits, we offer a comprehensive and rewarding hospitality experience that stands out amidst the growing competition. Belgrade’s hospitality scene flourishes, and I believe that our commitment to excellence, personalized service, strong brand identity, global network and adaptability keep us at the forefront of discerning travelers’ preferences. We take pride in maintaining our position as a trusted and preferred choice in this competitive market.

A NEW GENERATION OF GUESTS, INCLUDING MILLENNIALS AND GENERATION Z, HAS PLAYED A KEY ROLE IN SHAPING NEW TRENDS IN THE HOTEL INDUSTRY, AND HYATT HAS ADAPTED TO THESE CHANGES What is the profile of your guests today, and what hotel facilities and amenities can guests and visitors enjoy?

What, for example, would be your personal recommendation at Hyatt for Belgrade residents and all those who happen to be in the city?

— Our guests at Hyatt Regency Belgrade today come from diverse backgrounds and include business travelers, leisure seekers, families and individuals looking for exceptional experiences. We cater to a wide range of guest preferences and strive to create memorable stays for each individual.

Our hotel offers a comprehensive array of facilities and amenities to ensure a delightful and enriching experience.

Guests can indulge in luxurious accommodations, meticulously designed to provide comfort and elegance. We provide world-class dining options, ranging from the exquisite Metropolitan restaurant serving international cuisine that has been included in the Michelin Guide for 2023, vibrant The Bar that offers an amazing atmosphere and exceptional cocktails and Tea House, a popular Belgrade lounge ideal for a light lunch or coffee and delicious dessert.

For wellness enthusiasts, our fitness center Club Olympus Fitness and Spa is provided with the latest equipment, and our spa facilities create a sanctuary of relaxation and rejuvenation. At Hyatt Regency Belgrade, we strive to create exceptional moments and provide a home away from home for our guests. Whether you are a Belgrader seeking a luxurious getaway or a visitor discovering the city for the first time, we aim to exceed your expectations and deliver a memorable and enriching stay.

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Given that it was built over 30 years ago and, as a commercial property, serves a large number of people, how does Hyatt deal with energy efficiency? Have you done anything to reduce energy consumption or perhaps switch to renewable sources?

— At Hyatt Regency Belgrade, we prioritize energy efficiency and are committed to reducing our environmental impact. Recognizing the importance of sustainability, we have implemented various initiatives to enhance energy efficiency and explore renewable energy sources. To address energy consumption, we have implemented advanced technologies and systems across our properties that include smart lighting systems and energy-efficient appliances. By continuously monitoring and improving our energy management systems, we aim to minimize waste and maximize efficiency.

Furthermore, our dedicated employees are actively engaged to conduct energy conservation practices.

Through awareness campaigns and training programs, we encourage responsible energy use, such as turning off lights and electronics when not in use. These efforts collectively contribute to energy savings and foster a

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culture of sustainability. While facing unique challenges, we consistently invest in sustainable practices, technologies and infrastructure upgrades. By continuously evaluating and improving our energy efficiency initiatives, we strive to lead the way in sustainable hospitality and contribute to a more sustainable future.

Corporate culture and care for employees are today the number one priority in all large companies, and in the hotel industry, they are of particular importance. As a company, do you implement programs that contribute to better health and greater employee satisfaction? As a director, how close are you with employees, and how do you foster good relationships and good team spirit?

— At Hyatt Regency Belgrade, we prioritize the well-being and development of our team members, as we strongly believe that caring for our employees is essential for them to reach their full potential and thrive professionally. In the hotel industry, the positive energy and values cultivated within our team are tangible to our guests, making it even more crucial to emphasize this aspect. To ensure that our employees align

Hyatt Regency Belgrade has been an iconic landmark of Belgrade for more than 30 years

with our corporate culture and values, we have established mandatory training programs. These initiatives provide comprehensive knowledge about our organizational culture and values that guide our operations.

As the general manager of Hyatt Regency Belgrade, I personally take great pride in cultivating positive relationships with each and every one of our employees. By building a strong rapport with them, I aim to inspire them to foster the same positive relationships within their respective teams. It is of utmost importance to me to have meaningful interactions and constructive conversations, enabling me to witness how they embody our values such as empathy and integrity.

Moreover, I genuinely care about their professional challenges and am readily available to provide support whenever possible. I extend my assistance beyond work-related matters, as I believe in supporting them in various aspects of their lives. This holistic approach reflects our commitment to the well-being and overall satisfaction of our employees. By nurturing a culture of care, respect and personal growth, we aim to create an environment where our employees can flourish both professionally and personally.

Your restaurant, Metropolitan Grill, was included, along with 16 other restaurants in the capital, in Michelin’s gastronomic guide for 2023. What contributed the most to this flattering title, and what would you single out as a star on the menu this summer?

THE EXPANSION OF THE HYATT BRAND IN SERBIA, CROATIA, AND MONTENEGRO IS A STRATEGIC MOVE THAT AIMS TO ADDRESS THE INCREASING DEMAND FOR LUXURIOUS AND HIGH-QUALITY ACCOMMODATIONS IN THE REGION — Metropolitan Grill restaurant has achieved esteemed recognition in the form of inclusion in the Michelin Guide 2023, which serves as a testament to the exceptional quality and versatility of our gastronomic offerings, showcasing the expertise, dedication and culinary skills of our talented team. One of the key factors contributing to this distinguished title in my opinion is the seamless integration of local delicacies and international specialties meticulously curated within our menu. This thoughtful fusion ensures that our dining experience appeals to

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a wide range of discerning gastronomy enthusiasts, offering something exceptional for every palate.

Among the array of remarkable dishes on our Metropolitan menu, I highly recommend indulging in our signature swordfish specialty. Crafted with meticulous attention to detail, this dish exemplifies the creativity and expertise of our culinary team.

Furthermore, our menu offers a diverse selection that guarantees to tantalize your senses and surpass your expectations.

The construction of the Hyatt hotel in Novi Sad will soon begin, and it will be the second hotel of this brand in Serbia. With the recently opened Hyatt hotel in Montenegro and another under construction in Croatia, there will be four Hyatt hotels in the region. How should we interpret such a sudden expansion of the brand in the region? How important is it for Hyatt, and how much for Serbia and the entire region?

— The expansion of the Hyatt brand in the region reflects a strong commitment of the investors to growth and establishing a significant presence. This strategic move aims to address the increasing demand for luxurious and high-quality accommodations, catering to both business and leisure travelers. Leveraging the brand’s reputation, expertise and loyal customer base, we seek to gain a competitive advantage in the regional market.

The presence of multiple Hyatt hotels in Serbia and the entire region brings numerous benefits. Firstly, it signifies a substantial increase in investment and economic development, leading to job creation, infrastructure enhancements and a boost to the local economy. The presence of internationally renowned hotel brands like Hyatt attracts both domestic and international visitors, enhancing the region’s appeal as a sought-after tourist destination.

Moreover, we are proud as the arrival of Hyatt hotels elevates overall hospitality standards, fostering healthy competition among hotels. This competition encourages continuous improvements in service quality, amenities and guest experience, ultimately benefiting visitors to the region. Additionally, the expansion of reputable brands like Hyatt contributes to enhancing the image and reputation of Serbia and the entire region within the global tourism industry, positioning it as an attractive and competitive hospitality market. The sudden expansion brings valuable advantages to Hyatt in terms of market expansion, while for Serbia and the entire region, it signifies increased investment, job creation and improved visibility within the global tourism landscape.

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INTERVIEW

MILOVAN NOVAKOVIĆ,

MRICS, head of the Colliers Montenegro office

THE REGION IS ON THE RADAR OF COMMERCIAL REAL ESTATE INVESTORS "It is expected that the appetites of global investors in the future will be focused on the safest developing markets, which will provide them with faster returns on invested money. Concerning our regional market, it is the commercial real estate industry that has proven to be the most resilient," says Milovan Novaković, head of the Colliers Montenegro office By: GORDANA KNEŽEVIĆ MONAŠEVIĆ

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Photo: COLLIERS CRNA GORA

he Montenegrin real estate market is small, but as a young destination, it offers fantastic opportunities for fresh investments that will continue in the coming period in the commercial real estate sector, with a special emphasis on the development of retail park projects, industrial real estate, and elite tourism. We talked about the Montenegrin real estate market and its investment potential, trends in the real estate industry in the entire Adriatic region, and the successes of the multi-awarded consulting company he runs with Milovan Novaković, the head of the Colliers Montenegro office, which has been successfully operating on the Montenegrin market for two decades and is one of the founders of the Green Building Council of Montenegro.

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How do you assess the current state of the real estate market in the entire region, and how specific is the Montenegrin market in relation to regional trends?

— When it comes to the region, it can be stated that the commercial real estate market is quite balanced, so no significant changes are expected in that segment. It is expected that investors who have recognized the potential of the Southeast European market will continue to invest mainly in the commercial real estate industry, which has proven to be the most resilient, with a focus on retail parks and industrial real estate. As for the residential real estate market in this part of Europe, we expect that in 2024, prices will begin to show negative trends in most markets.

Gross foreign direct investments in Montenegro last year amounted to 1.15 billion euros and are 24.07% higher than in 2021, according to preliminary data from the Central Bank of Montenegro. 448.02 million euros were invested in real estate, which represents a growth of as much as 60.99%. After the recent entry of large investors into the commercial real estate sector, such as the company BIG CEE, which in the previous year and a half invested around 200 million euros, mainly in existing buildings, and taking into account their plans for new investments, primarily in the sector of retail parks, we believe that the market will continue to develop in a positive direction and that the maturity of this market can be expected in the next two years. Colliers Montenegro was privileged to act as exclusive agent and coordinate the entire process for their recent acquisition of Capital Plaza. It is also the largest acquisition in this segment of real estate in Montenegro. It is a building with a total construction area of about 85,000 m2, with two business-office towers, the CUE hotel, a residential-commercial complex with 70 luxury apartments, a shopping area on two levels, as well as four levels of garages with about 725 parking spaces. We believe that our future cooperation will be successful to our mutual satisfaction. Cities that are expected to be interesting for new retail projects are Nikšić, Budva, and Bar. In the following short-term period, we do not expect significant new in-

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vestments in classic shopping centers, except in the case of upgrading existing ones.

In previous years, Colliers Montenegro has been awarded several times by eminent institutions, such as the International Property Awards, and declared the best real estate consulting company in Montenegro. What sets you apart from the competition, and how integrated is the Colliers brand at the level of the Adriatic region?

— I would also like to mention that Colliers Montenegro was declared the best consulting company in Europe for 2015/2016 and thus became the first company from this part of Europe to receive this award. Our global presence and intensive cooperation within the extensive Colliers network, the strengthening of cooperation in the Adriatic region, the strength of the brand, the diversification of services, and the professional expertise of our employees, accompanied by a high degree of ethics in business, have contributed the most to our success in such a small market that does not forgive serious mistakes. As a result of all the above, during the period of

PROJECTS SUCH AS PORTO MONTENEGRO, LUŠTICA BAY, PORTONOVI, AND SOME SMALLER SIMILAR ONES HAVE POSITIONED MONTENEGRO ON THE MAP OF THE MOST LUXURIOUS DESTINATIONS IN EUROPE AND BEYOND expansion in the real estate market, we were present and cooperated with almost all large investors, banks and other financial institutions, and state authorities, and during the period of stagnation, our services were mainly used by clients who were looking for the best new scenarios for their projects in accordance with the new market circumstances, as well as the banks for whom we provided diversified services, evaluation of their portfolios, and optimization of lease costs. It is very important to mention that we always listened to the signals we received from the market itself, learned from the acquired experiences, aligned our business policy with current expectations, and were prepared for upcoming, sometimes not so predictable, challenges. An honest and professional attitude towards our clients, a cautious approach when entering new business, where in many situations we had to say NO to potential clients, as well as the rational management of the company, certainly contributed to our survival in such a small and limited market. After almost two decades of successful operations, the clients with whom we cooperate and the results achieved speak best about us.

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Montenegro is one of the most attractive destinations in the region for investing in real estate, especially for foreigners who buy houses and apartments by the sea. How do you see the further development of this trend?

— Montenegro is already recognized as an attractive destination for foreign buyers, especially when we talk about the “second home” market segment. It is important that investors continue with quality promotion of their products, that they adapt to the profiles of customers who gravitate towards Montenegro, and that they constantly work on the so-called “fine tuning”, that is, that they harmonize their products and planned budgets with real market circumstances. For young destinations like Montenegro, the expertise and attractiveness of the product being marketed are much more important than the financial strength of the investor. Projects such as Porto Montenegro, Luštica Bay, Portonovi, and some smaller ones similar to them are the best examples of this. The investors in

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COLLIERS MONTENEGRO WAS DECLARED THE BEST CONSULTANCY HOUSE IN EUROPE FOR 2015/2016 AND THEREFORE BECAME THE FIRST COMPANY FROM THIS PART OF EUROPE TO RECEIVE THAT RECOGNITION these projects not only recognized the potential of the destination, but through their quality promotion, they positioned Montenegro on the map of the most luxurious destinations in Europe and beyond. They are also one of our best ambassadors in the world, and that is why our country should implement a culture of promoting and affirming them in order to continue attracting investors of this level.

The acquisition of Capital Plaza in Podgorica by BIG CEE is the largest acquisition in the commercial real estate sector in Montenegro

What is the situation in the residential real estate market when it comes to domestic buyers, and how are the local residents dealing with significantly higher rental prices?

— As for domiciled buyers, Podgorica is already a traditional market that absorbs the most residential transactions in Montenegro, and this trend will continue in 2022. Our predictions are that there will be no significant price corrections in 2023, but taking into account the strength of the real sector, the growth of interest rates, the still high rate of inflation, and the fact that prices are reaching their real maximum, we predict a gradual decline in prices in this segment of real estate for next year.e believe that the smaller developers, who may become insolvent, will be the first to start reducing prices and bringing them into line with real demand.

If this is the case, even larger investors will begin to adapt and harmonize with the current and expected market circumstances.

As for renting apartments, Montenegro has become a temporary home for more than 50,000 people from Ukraine and Russia, which has had a positive effect on consumption in the country, but rental prices have jumped between 20% and

60%, depending on the product and location.

This increase in rental prices had a negative impact on the local population, whose spending power was significantly reduced. A very small percentage of foreign tenants change to buyer status, which additionally negatively affects the entire market, so a downward price correction is expected in the future in classic multi-family buildings on the coast.

The development of luxury projects with premium amenities and the arrival of renowned hotel brands clearly show that Montenegro has turned to investments in elite tourism.

What can we expect further in this sector?

MONTENEGRO IS A VERY SUITABLE DESTINATION FOR DIGITAL NOMADS AND IT HAS ALL THE NECESSARY INFRASTRUCTURE. A SPECIAL BENEFIT WOULD BE THE IMPROVEMENT OF TOURISM AND THE EXTENSION OF THE SEASON TO THE WHOLE YEAR — Based on our information, planned investments in already market-positioned projects, such as Porto Montenegro and Luštica Development, will continue according to the planned dynamics. The continuation of the development of such projects in Kotor is expected. In those projects, which offer their customers a “lifestyle” and a complete service, we do not expect significant price corrections. Large international hotel brands continue to recognize Montenegro as an attractive destination and the importance of projects implemented in our country, so that trend will continue. It is very important to emphasize the potential of the north of our country, which, with its further development, will be a serious creator of demand and significantly influence the development and sustainability of the most important economic branch of Montenegro. What is important to mention is that capital infrastructure projects must be continued, with a focus on road and air infrastructure, in order for Montenegro to further improve its accessibility. Also, it is necessary to promote sustainable construction in practice, aligned with the most recognized world standards.

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You are a big supporter of the idea that Montenegro should use its chance as a digital nomads destination; moreover, you started the whole story two years ago. How far has the development of this program come?

— Digital nomads are individuals whose work allows them to perform their work activities from any point in the world that is covered by the Internet. Last year, the Parliament of Montenegro adopted the Draft Law on Amendments to the Law on Foreigners, which aims to regulate foreigners who conduct business electronically for foreign companies not registered in Montenegro or are entrepreneurs (so-called digital nomads). The adopted amendments to the law allow the digital nomad to enter Montenegro on the basis of a long-term visa (visa D), after which he/she can apply for a temporary residence permit for up to two years, with the possibility of an extension for another two years. Montenegro is a very suitable destination for digital nomads and has all the necessary infrastructure, but what is most important for our society is the “brain gain” effect, which can be the greatest capital for the entire region because practical and modern knowledge is what everyone lacks. Research predicts that by 2035, one billion people will work “remotely”. A special benefit would be the improvement of tourism and the extension of the season to the whole year. Digital nomads would no longer come to Montenegro just for a few weeks but for a few months, a whole year, or longer. Research conducted by the company Jobbatical, owned by Karoli Hindriks, the initiator of the visa program for digital nomads in Estonia, showed in a sample of 1,200 digital nomads that 87% of them believe that a simpler visa process is the main factor in choosing the destination they want to visit and work in. Therefore, nine out of ten digital nomads will choose their next destination depending on the level of regulation of the visa legislation. The legal prerequisites have been created, but now it is all up to all relevant governmental and non-governmental institutions to use the best world practices in order to make Montenegro a paradise for this fast-growing industry.

The global real estate market has gone through many crises and challenges in recent years.

Do you foresee the situation calming down and recovering in the future?

— After the great misfortunes first caused by the

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“The Montenegrin real estate market is small and limited and does not forgive serious mistakes,” says Milovan Novaković

COVID-19 virus pandemic and not long after by the war in Ukraine, which is still ongoing and which further exhausted the European economies, it was to be expected that the real estate markets in many countries would also feel the negative impact of all these circumstances. It is certain that economic recovery cannot be expected until geopolitical events in the world stabilize, which will indirectly or directly affect the real estate market. High inflation rates, which are slowly stabilizing, constant growth of interest rates, and the accumulation of deposits in banks are clear signals that the markets are entering a recessionary phase. The trend of investing in commercial real estate in Europe records a decline of about 30% in 2022 compared to the average of the previous five years. Conditions on all markets are reflected in the relationship between supply and demand. From a global point of view, regardless of the newly created situation, in certain markets there was an accumulation of supply that exceeded demand, while in other markets the opposite process is taking place. That imbalance was and will be the main reason for falling or rising prices.

It is expected that the appetites of global investors in the future will be focused on the so-called “distressed” opportunities as well as on the safest developing markets, which will provide them with faster returns on invested money.

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SUSTAINABLE DEVELOPMENT

CTP – THE INDUSTRIAL SECTOR’S LEADER IN THE GREEN TRANSITION Environmental protection, carbon neutrality, and care for the communities in which it operates are the priorities of the sustainability strategy of CTP, a leading company in the field of the construction and leasing of business and industrial parks in Central and Eastern Europe, all of whose new facilites are BREEAM certified Text: JOVANA NIKOLIĆ

Photo: CTP

s a leader in the construction and leasing of business and industrial parks in Central and Eastern Europe, with a portfolio that includes almost 11 million square meters of A-class buildings in ten countries from the Baltic to the Black Sea, the Dutch company CTP, which has been operating in Serbia for six years, takes the impact of its activities on the en-

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vironment very seriously. With the aim of being an industry leader in the transition to a carbon-neutral economy and achieving a positive impact on the communities in which it operates, CTP applies the most modern materials and technology to build and manage highly efficient facilities with the smallest possible environmental footprint and to ensure their sustainability over time.

Taking the responsibility to improve the sustainability of its operations and achieve more carbon dioxide removed by CTforest than emitted from company operations in 2023, CTP has invested in new technologies in the past few years to meet the target and obtain a green BREEAM certificate for all new buildings in its portfolio. In 2021, almost 300 CTP buildings at 100 locations in six countries were BREEAM certified. With this decision and its implementation, CTP is not only the first European company for industrial and office real estate to take the initiative and commitment to have its entire portfolio BREEAM certified, but after the certification, it became the greenest company for the development of industrial real estate in Europe.

CTP in Serbia has 13 finished buildings in its portfolio, in five different locations, with a total area of more than 285,000 square meters, and all buildings have the BREEAM green building and energy efficiency certificate. CTP’s local presence is not solely the provision of space for workplace creation. The company conducts multiple activities related to infrastructure development as well as community support.

CTP’s commitment to sustainable development includes ISO certification for environmental and energy management systems. Currently, all CTP facilities in the Czech Republic, Slovakia and Romania have ISO 14001 (Environ-

mental Management) and ISO 50001 (Energy Management) certificates, and the plan is to finalize ISO certification in all countries where CTP operates, including Serbia.

In addition to the development of smart buildings in order to save energy and money and the development of the “circular parks” concept, according to the circular economy standards, with the aim of achieving zero waste, CTP, as part of its comprehensive sustainability initiative, is working hard to develop a solar strategy in order to lower operating costs for its tenants while providing them with a source of renewable energy for their own sustainability goals. CTP has already announced that it will start installing solar panels on all its facilities in Serbia this year. Given the planned square footage of the facilities, when all the solar panels are installed, CTP will be one of the largest producers of green energy in Serbia.

A key pillar of CTP’s carbon neutrality strategy is the purchase and maintenance of natural forests in the countries where it operates. To this end, CTP intend to own forests to take care and improve its biodiversity and make it available to people. As a first step, in October 2019, CTP bought its first forest reserve, Mladá Boleslav, in the Czech Republic.

The entire 100-hectare forest will be preserved in its natural state and managed by expert staff to encourage biodiversity. CTP continues to seek out other old-growth forests.

PETAR KOLOGNAT

director of business development at CTP Serbia

SOLAR PANELS ON 10 FACILITIES IN SERBIA BY THE END OF THE YEAR Since it has been operating in Serbia since 2017, CTP has acquired two and built eleven facilities, where today big names from various sectors operate. Currently, the construction of more than 230,000 m2 in five different locations is underway, which will bring the total portfolio of the CTP company in Serbia to over half a million square meters. All new buildings will have BREEAM certification, including the future largest logistics center in Serbia, CTPark Belgrade City, whose construction should be completed by the end of the year, announced Petar Kolognat, director of business development at CTP Serbia.

“The construction of all buildings is progressing excellently, according

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to the plan and the defined timeline.

When it comes to new locations, I would especially like to point out CTPark Novi Sad East, which will finally offer clients in that city an A-class logistics facility. We are also looking forward to the development of CTPark Jagodina, where we have acquired about 24 ha of land right next to the highway, just 2 km from the city center. “We expect the start of the construction of the first building of 36,000 m2 already in October of this year,” says Kolognat.

In addition to the construction of new buildings, CTP will also start installing solar panels on its buildings this year.

We plan to install solar panels on the roofs of the first 10 buildings in

Serbia by the end of the year and to deliver at least 20MWp to the system.

After that, every new building that is built will have a solar plant on the roof. It is expected that we will receive the permits during the summer and that we will start installing the solar panels at the beginning of autumn.

The plan is to work on 3–4 locations at the same time,” said Kolognat at the recently held REBEC conference.

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A SUSTAINABLE COMMUNITY

TOGETHER FOR THE GREEN CITIES OF SERBIA How green a city will be depends on how ready local governments, companies that operate there, and citizens are to adopt and implement their local green agenda.

Following its green agenda, the oil company NIS is extensively developing a project to make petrol stations across the country as green as possible By: JOVANA NIKOLIĆ

Photo: NIS

ities currently produce more than 60 percent of the world’s greenhouse gas emissions and are the most polluted living environments. The consequences of pollution for people’s health are already severe since about half of the world’s population lives in cities. It is estimated that by the middle of the century, as much as 70 percent of the world’s population will live in cities. Population growth and urbanization will encourage construction, which will lead to more concrete around us and increase the consumption of electricity.

What is encouraging is that cities, as

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direct and major polluters of the environment, can best respond to the challenges of climate change and contribute the most to improving the quality of life for all of us and the regeneration of the planet.

What can we do to make our cities cleaner and life in them better and more humane?

GREEN AGENDA The European Green Deal represents a turning point in the fight against climate change because it aims to make Europe the first continent to achieve carbon neutrality by 2050. Serbia adopt-

ed this strategy through the Western Balkans Green Agenda, which involves a number of practical steps and initiatives that should result in the decarbonization of the region and economic growth in line with sustainable development principles.

Translated into our daily lives, this means that we can do a lot to live in socalled green cities. A “green city” is any city that applies sustainability standards that affect the reduction of pollution and a healthier life for its residents.

How green a city will be depends not only on the local self-government and the companies that operate there but

also on the citizens themselves—more precisely, on how much everyone is ready to adopt and implement their local green agenda.

Cities throughout Serbia are also increasingly turning to green and sustainable solutions. There is a noticeable increase in the number of investors investing in green construction. Also, building materials, such as green concrete with a significantly reduced carbon footprint, as well as modern energy-efficient solutions for use in construction, are increasingly available and in demand on the market.

There are numerous examples of civic green initiatives at the local level.

There are more and more multi-family residential buildings in which the residents make agreements to jointly invest in the energy renovation of the buildings and replace worn-out installations and equipment with energy-efficient solutions, thereby ensuring the energy security of their homes and lowering their electricity bills.

Tenants can also start an initiative to green the flat roofs of their buildings, which is widely practiced in European cities. In addition to increasing the aesthetic value of the building, green roofs reduce air pollutants, filter harmful gases, and also absorb or repel sound waves.

Energy Sources, which introduced the category of consumers. This means that the excess electricity left over after you meet your needs can be handed over to the electricity distribution network. In the winter months, when the production of electricity from solar power is reduced, your electricity bills will be reduced by the price of the electricity you deliver to the grid.

NIS AS A MODEL OF GOOD PRACTICE This year, NIS has published the 13th consecutive verified report under the headline “Our Sustainable Community”.

In the Report, this oil company comprehensively and transparently presents all key activities in 2022 to the wider public, and it also states how NIS contributes to the accomplishment of 12 of the 17 UN Sustainable Development Goals with its operations.

at more than 600 tonnes per year. NIS will continue to install photovoltaic power plants on its retail network and other facilities in the future.

In addition, NIS pays great attention to energy efficiency, so that from 2012 to 2022, the company achieved a total increase in energy efficiency of 33 percent, which also contributes to a more rational use of resources and environmental protection.

Following its green agenda, the company has invested around 120 million euros in environmental projects since 2009. With other business projects that significantly contributed to the improvement of environmental protection, the company has invested over 900 million euros . The largest number of these projects were implemented in the Pančevo Oil Refinery, which in 2017 became the first energy facility in our country to receive an integrated integrated IPPC per-

SOLAR PANELS One of the solutions that can lead us to greener cities the fastest is the massive installation of solar panels on the roofs of houses, residential buildings, office buildings, and industrial facilities. If at least a quarter of the roofs were covered with solar panels, that would cover half of Serbia’s energy needs.

The advantages of solar energy are numerous: it does not pollute the environment, reduces the cost of electricity or heat, and, above all, ensures energy independence for those who produce it for their own needs, which contributes to greater energy independence for the entire country.

Great benefits are also brought by the new Law on the Use of Renewable

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So far, NIS has installed solar panels at 15 gas stations

In the last 10 years, NIS has reduced emissions of polluting substances in the air by as much as 90 percent.

Implementing its green agenda and following its determination to increase the share of renewable energy sources, NIS has started installing solar panels at petrol stations in our country. So far, this project has been implemented at 15 petrol stations, which has positive business and environmental effects. Namely, with the use of solar panels, the total savings in the procurement of electricity will amount to about 600 MWh on an annual level, while the reduction of carbon dioxide emissions is estimated

mit, from state authorities, which confirms that all production processes in the factory are in compliance with the highest local and European environmental standards.

In this way, NIS makes its contribution to improving the ecological image of the whole of Serbia as well as to the fulfillment of the UN’s sustainable development goals, such as Sustainable Cities and Communities and Climate Action, which include activities to combat climate change, in order to significantly increase the share of renewable energy in global energy production and consumption by the end of 2030.

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SUSTAINABLE DEVELOPMENT

PIONEERS OF GREEN BUILDING "With the independent production of electricity from renewable sources, we want to contribute to a more sustainable future and a cleaner environment for the citizens of Serbia, so in the coming period, all STOP SHOP retail parks will be covered with photovoltaic panels," says Maja Marić, Operations Manager of CPI Property Group for the Serbian market By: JOVANA NIKOLIĆ

Photo: CPI PROPERTY GROUP MAJA MARIĆ,

Operations Manager for the Serbian market, CPI Property Group

ince 2015, when the first of 14 STOP SHOP retail parks, as many as there are currently in Serbia, was opened in Čačak, this brand has been setting trends on our market, both in the domain of services and in ecological construction standards. The series of positive changes initiated by this company in the industry continued under the new operator, the Czech corporation CPI Property Group, which in the last quarter of 2022 took over the shares of IMMOFINANZ and therefore the STOP SHOP brand. We talk about current projects and plans for further development with Maja Marić, Operations Manager for the Serbian market.

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Stop Shop retail parks have become synonymous with a modern and ecological shopping experience. Part of that is the new solar power plant on the roof of the building in Poarevac. How important is this project to you?

— The solar power plant, which was recently installed on the roof of the STOP SHOP in Poarevac, will soon start producing electricity and will meet most of our energy needs. The expected annual production of over 2,400 installed photovoltaic panels is 1,130.00 MWh of “clean” energy, which will save about 920 tons of carbon dioxide. How significant this shift is is shown by the fact that the same amount of CO2 is eliminated from the atmosphere by a forest of 26 hectares.

With the independent production of electricity from renewable sources, we want to contribute to a more sustainable future and a cleaner environment for the citizens of Serbia, so

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in the coming period, all the rest of the STOP SHOP retail parks will also be covered with photovoltaic panels.

Also, we are proud of the fact that, as of April 2021, all our facilities will be supplied exclusively with green energy from renewable sources based on a special contract with the Elektroprivreda Srbije. In addition, our STOP SHOP in Lazarevac is equipped with a wind generator and a photovoltaic public lighting system that provide cleaner energy from sustainable sources.

All 14 Stop Shop retail parks carry the BREEAM certificate, and the company is also a member of the Green Building Council of Serbia. How do you integrate green standards and sustainable practices into your operations?

— We have a dedicated team working on it with the goal of our facilities having a minimal ecological footprint.

BREEAM and other green certificates are proof that we have succeeded in this. Measurements of key indicators, such as energy consumption, water consumption, waste management, and carbon dioxide emissions, help us monitor the environmental impact of our projects and identify areas for improvement. The general impression is that we have already positioned ourselves as pioneers of sustainable transformation and that many of our solutions serve as an example for other companies on the market.

Thus, STOP SHOP is the first brand on the Serbian market in the retail segment to cover the entire portfolio with chargers for electric vehicles. This is our way to contribute to the development of electromobility and the reduction of harmful emissions in traffic. In addition, our visitors can take a break from shopping on smart solar benches with mobile phone chargers, a free Wi-Fi internet connection, and weather and air quality data. We are especially proud of the urban forests that grow within the STOP SHOP retail parks in Lazarevac, Vršac, Subotica, and Sremska Mitrovica, which work to preserve biodiversity and air quality. We are planning similar ventures in other locations with the aim of further enhancing services and promoting green trends in our environment.

What is the secret of the success of retail parks at a time when customers are moving massively to the online space?

— This format of spending free time has numerous advantages that are highly valued by our visitors. With an unparalleled shopping experience for all senses, STOP SHOP parks offer a wide range of products and services with a favorable price-quality ratio. It is a space for entertainment for the whole family, and our facilities also have a significant social dimension. It is also a big advantage that STOP SHOP parks are easy to reach since they are concentrated in smaller cities, with spacious park-

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ing, green surroundings, and space for walking under the open sky. Our climate sees such practices as permanent, which is why we strive every day to improve the services and ambience of retail parks, and that is where our leadership position on the market comes from.

How will STOP SHOP centers develop further?

— With new investments in the field of sustainability, we continue to invest in further development and expansion.

For 2024, the plan is to build the second phase of STOP

THE GENERAL IMPRESSION IS THAT WE HAVE ALREADY POSITIONED OURSELVES AS PIONEERS OF SUSTAINABLE TRANSFORMATION AND THAT MANY OF OUR SOLUTIONS SERVE AS AN EXAMPLE FOR OTHER COMPANIES ON THE MARKET

Urban forest within the STOP SHOP retail park in Lazarevac

SHOP Smederevo as well as the second phase of STOP SHOP Subotica. In both cases, we are talking about additional retail space on areas of 5,000 to 6,000 square meters with a new mix of domestic tenants and global brands. What is particularly important to us in this regard is that, in the future, we will also use recycled materials in construction projects. Our goal is to expand services towards a clean and sustainable future in order to provide consumers with more innovative content throughout the entire shopping experience. In the coming period, we will continue to look for opportunities for new investments, nurturing the epithet of one of our favorite destinations on the retail map of our country.

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TRAVEL

RHODES: THE ISLAND OF THE SUN AND KNIGHTS We take you on a tour of the easternmost island of the large Greek islands in the Aegean Sea, whose lush vegetation, moderate climate, divine beaches, traditional villages, numerous ancient sites, and cosmopolitan spirit will turn your vacation into an unforgettable spell Tekst i slike: IVAN ANDREJIĆ

Acropolis in Lindos

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Ancient city of Rhodes

Greece is a tourist paradise with hundreds of stunning islands. But how do you choose the perfect island for your next vacation? Some islands are known for their beautiful beaches but do not have an exciting nightlife; others have interesting archaeological sites but not the best hotels or beaches. If there’s an island that combines everything we love about Greece— from incredible scenery and beaches in every shade of blue to traditional villages, museums, and ancient sites—then it’s Rhodes, the easternmost island of the large Greek islands in the Aegean Sea, just 18 kilometers from the coast of Turkey. Long ago known for the Colossus of Rhodes, one of the seven wonders of the ancient world, Rhodes is today one of the most visited and charming tourist destinations in the Mediterranean, often called the island of the sun and knights.

You’ll understand why it’s called the island of the sun as soon as you step foot on it. Rhodes is one of the sunniest islands in the Mediterranean, and during your stay, you can be sure that you will have blue skies during all days of your vacation, even if you vacationed at the end of October, until the summer season lasts here.

The island also owes its sunshine to Helios, the Greek god of the sun, who, according to legend, received Rhodes as a gift from Zeus. History, as well as the remains of medieval buildings, testify that it was an island of knights. After the Crusades and the defeat by Islamic forces, when they lost Jerusalem and the territories of the Holy Land, the Crusaders, i.e., the Knights Tem-

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LONG AGO KNOWN FOR THE COLOSSUS OF RHODES, ONE OF THE SEVEN WONDERS OF THE ANCIENT WORLD, RHODES IS TODAY ONE OF THE MOST VISITED AND CHARMING TOURIST DESTINATIONS IN THE MEDITERRANEAN plar and knights of other orders, settled first Cyprus, then Rhodes, and finally Malta, where the order of the Knights of Malta still exists today.

During their stay on the island of Rhodes, they built beautiful fortresses and what is today the remains of the medieval city of Rhodes with its walls, churches, and palaces.

The whole island is a kind of open-air museum in which traces of numerous cultures

Rhodes port

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Rhodes port

Acropolis in Lindos

The city of Rhodes

and artistic and architectural styles intertwine, but what captivates at first sight are the stunning beaches, the surreal blue of the sea, and the lush Mediterranean vegetation dominated by pines and cypress trees. This unique environment, in addition to the cosmopolitan spirit of the island, numerous tourist attractions, a large selection of hotels and apartments, an exciting nightlife, and top gastronomic delights in traditional Greek taverns, creates a magical formula that attracts a large number of tourists from all over the world to Rhodes with the aim of getting the best of Greece during vacation.

THE CITY OF RHODES The old town of Rhodes is considered one of the most beautiful towns in all of Greece. It smells like leather, spices, and coffee; in short, it smells like the Orient. Even the architecture is reminiscent of the bazaars of the Far East. Domes of mosques and slender minarets bear witness to Turkish rule. The magnificent buildings of the knights, such as the

mighty palace of the Grand Master, are even more impressive. An incredible variety of shops with local products, taverns, and cafes bring new life to the old streets of the medieval city, which today, instead of conquerors, is besieged by tourists from all over the world. The most beautiful view of the city and the port of Mandraki is offered by walking along the old city wall. The picturesque labyrinth of alleys reveals many layers of history: mosques are located next to churches and chapels from the Byzantine era, and Turkish fountains stand right next to the ruins of Gothic churches. You can also walk to Monte Smith, high above the city center, where you will see gardens with tropical plants and beautifully decorated villas. In the immediate vicinity are the temple of Athena and the ancient stadium, from which there is an incredible view of the whole of Rhodes, the port, the beaches, and the endless Aegean blue.

The Grand Master’s Palace is undoubtedly the main tourist attraction of the medieval city. It is located in the north-

Medieval city of Rhodes

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Medieval city of Rhodes

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west, at the highest point of the city. It was built by the Knights Hospitallers of Jerusalem on the site of a previous fortification from the 7th century. The palace was the residence of the Grand Master and the place where the conferences of the knightly order were held. The sarcophagi of all the great masters are preserved inside the palace.

An attraction of the capital city is the city beach, located not far from the center, where you can enjoy the sun, azure water, and numerous amenities offered by luxury hotels, taverns, and bars nearby.

KALLITHEA This spa complex was built around the existing natural thermal springs during Italian rule with the intention of being a center for therapy and recreation for Italian tourists.

The baths were officially opened on July 1, 1929, right after the completion of the road that led from Rhodes to Kallithea.

Lindos

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Lindos

Rhodes beach

The complex was designed by the architect Pietro Lombardi, combining Byzantine and Islamic elements with classical Greek elements, integrated into a unique composition. The building was preserved and restored, and today it looks like a castle, whose architecture emphasizes the beauty of this place and the beach surrounded by rocks and crystal-clear water.

LINDOS Lindos is one of the most beautiful Greek villages, known not only for its traditional settlement, ancient acropolis, and significant archaeological site but also for its beautiful beaches. In ancient times, Lindos was one of the most important centers of the Mediterranean, which connected Greece and the Middle East with trade routes and often with the conquest campaigns of numerous peoples. Lindos, like the nearby town of Rhodes, has its own acropolis on a hill above the village. It is necessary to climb quite a number of steps to visit the an-

Filerimos Monastery

FILERIMOS MONASTERY

THE WHOLE ISLAND IS A KIND OF OPEN-AIR MUSEUM IN WHICH TRACES OF NUMEROUS CULTURES INTERTWINE , BUT WHAT CAPTIVATES AT FIRST SIGHT ARE THE STUNNING BEACHES, THE SURREAL BLUE OF THE SEA, AND THE LUSH MEDITERRANEAN VEGETATION DOMINATED BY PINES AND CYPRESS TREES cient temples of the acropolis, but you will be rewarded with one of the most picturesque panoramas of the Mediterranean. In the immediate vicinity of Lindos is the beautiful St. Paul’s Bay, a place of myths and legends and today one of the most visited beaches on the island.

Filerimos Monastery is located on a hill about 10 kilometers south of the city of Rhodes, near the site of ancient Ialyssos. It was built by the Knights of St. John in the Middle Ages and was reconstructed at the beginning of the 20th century. The monastery is dedicated to the Virgin, and its architecture is very different from the usual monasteries in Greece. Its stone construction in the Gothic style was built on the site of an older Byzantine monastery. This monastery is also known for the fact that the icon, which, according to legend, was painted by Saint Luke in 46 AD, reached all the way to Montenegro through interesting historical routes. is kept today in the Historical Museum of Montenegro in Cetinje. For centuries, the icon was owned by the Knights of Malta, who presented it to the Russian emperor in gratitude for the protection he provided them. In Russia, the Icon of Our Lady of Philermos was there for almost a century and a half until the end of the October Revolution, when it was taken out and taken to Denmark. Then it was in Berlin for some time, and in 1928, together with two great holies, a particle of the Holy Cross and the hand of John the Baptist, it arrived in Belgrade as a gift from the Russian imperial house to Serbia and King Alexander Karadjordjević. Until 1941, it was kept in the palace church, and during the retreat of the royal family through Montenegro, King Petar Second Karadjordjević handed it over to Patriarch Gavrilo, after which it was hidden in the Ostrog monastery. Since then, this great relic has been located in Montenegro.

Lindos

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Photo: Parallel studio

NEWS

BOR HOTEL BY KARISMA: IMPECCABLE DESIGN THAT PUSHES BOUNDARIES

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oming up with the design of a luxury hotel in the fivestar category in which visitors will feel as if they are in a completely different, authentic, and yet most comfortable and pleasant place is a real challenge today. In the field of the hotel industry, trends are constantly changing. Many strive to meet the expectations of guests with luxury and quality, so, one would say, hardly anything can surprise us when it comes to the appearance of the exterior and interior.

However, architects Marija Mitrović and Vladimir Stojiljković from Parallel Studio, with their work on the construction project of the prestigious Bor Hotel by Karisma in Zlatibor, created a space of impeccable design that pushes the boundaries.

As many as 93 luxury hotel accommodation units, a spa and wellness center, three restaurants, a rooftop bar, a lobby bar, a cigar lounge, and a concierge are just some of the services that will be available to visitors of the Bor Hotel by Karisma on Zlatibor.

It is the first hotel in Serbia that will be managed by one of the world’s leading hotel groups, Karisma Hotels & Resorts, which true hedonists will remember not only for its superior service and innovative concepts but also for its impeccable design— an exterior fully integrated with the natural environment and an interior designed according to the last word of sophistication.

“Our starting point was the idea that the interior should be filled with as many natural materials as possible, such as wood and stone. We paid special attention to the finish in order to

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make it as natural as possible, so that one gets the impression that certain pieces were found in the surroundings of Zlatibor. Then we incorporated metal, concrete, leather, textiles, and reduced colors into the design, which exuded not only naturalism but also elegance. When it comes to the exterior, we would emphasize that it is fully integrated with the natural environment that surrounds it,” architects Marija and Vladimir point out.

In creating the concept and design of the hotel, in addition to Parallel Studio, a prestigious agency from Greece, headed by Talis Pitulis, participated. According to him, Bor Hotel by Karisma is not just a hotel but a special experience.

“We have a really exciting project behind us. Simply put, our international experience and expertise, in synergy with the Serbian soul, resulted in the creation of a special stamp, pushing boundaries and raising design to a higher level. Our shared vision was to create unique feelings and memories combined with supreme comfort and striking style,” said Tallis.

The doors of the Bor Hotel by Karisma will be opened in November 2023 for visitors who want to afford themselves an experience of luxury, carefully designed ambience, striking style, top-notch service, and comfort.

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INTERIOR

OPEN-CONCEPT LIVING ROOM Clean lines, rounded edges, playing with textures, and natural shades inspired by sand, stone, and wood will turn your living room into a modern and pleasant environment that will give you a feeling of freedom, comfort, and dynamic energy Text and photos: STUDIO NACRT

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luidity, minimalism, and multi-functionality are some of the key features of the modern open-concept living room, which has largely become the norm in interior design. The open concept calls for clean lines and transparency in space, which explains the presence of minimalism and natural tones in today’s trends.

Living rooms, as they are most often conceived today, are intended to achieve space maximization and multiplicity of use, whether it is about smaller or larger square footage.

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SYMBIOSIS OF THE KITCHEN AND LIVING ROOM Within the open-plan concept, the dominant trend for a long time has been the connection of the living room, dining room, and kitchen. This arrangement brings a feeling of freedom, large space, and comfort, but also a specific, dynamic energy created by the residents themselves, using this multifunctional space. The perfect version of the kitchen in the open space concept is the one that effortlessly integrates aesthetically into the rest of the living room while at the same time bringing its own aesthetic value, which makes the interior visually richer.

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NEUTRAL TONES One of the undeniable trends when it comes to decorating the living room is the use of light, beige tones, and natural shades inspired by sand, stone, and wood. These tones look timeless and sophisticated, but they also symbolize contact with nature and bring a sense of relaxation and calmness to the space. Although it may not seem so at first, neutral tones offer countless possibilities for interesting combinations of shades and textures. In addition, they represent a grateful background for designer pieces and visual accents that we want to bring into the space, such as artwork, lighting, or unique pieces of furniture.

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WALL COVERINGS Playing with simplicity and respecting minimalism means turning unexpected aspects of the interior into art.

In an environment dominated by muted colors, shapes and textures become integral when it comes to adding depth and dynamism to a room. Wall coverings play a major role in achieving this goal and are therefore becoming an increasingly popular decorating technique. In an atmosphere of neutral tones, specific silhouettes are what our eyes become focused on. As well as bringing a sense of dynamism, the curved walls of an open-plan living room help to visually connect different areas of the space, mak-

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ing it more cohesive and adding a sense of energy flow. In addition to coverings made of veneered and colored MDF, stone and rock textures are becoming more popular and in demand. The striking stone-effect wall piece radiates a sense of grandeur and modern design combined with an organic aesthetic. The play with textures encourages tactile perception and inspires the viewer. Such “stone” wall coverings introduce a raw, unpolished element into an otherwise clean and simple look. Suddenly, something known as basic, like the walls and ceiling, becomes an unexpected accent to the room, adding dimension and a sense of flow and movement within the place.

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LIGHTING A very important factor in decorating the interior of the living room is lighting.

Recessed magnetic lighting tracks have become extremely popular. It is a type of lighting that can be combined with different styles and meets all lighting needs. In order to achieve a pleasant ambience in the space and to play with the effect of light on the interior, table and floor lamps or LED lighting are used as part of the wall covering, ceiling, or furniture. The look that is popular, both in furniture and in lighting, is exact rounded forms, as well as concrete and stone imitations.

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SOFAS When it comes to furniture, rounded forms dominate, with lower seating and greater depth, which also achieves greater comfort.

The materials that have been popular for the last year are the socalled “sheep” materials with a stronger texture. Clean lines, simple silhouettes, and low seating contribute to the feeling of openness and uncluttered space, which is necessary in the concept of an open layout. Another item that is becoming the norm is furniture modularity. Modular and sectional sofas have gained considerable popularity due to their adaptability to space and the possibility of creating new shapes in accordance with changing needs and aesthetic moods, which is a feature of the modern era.

FIREPLACE The last, but not the least, popular item when decorating the living room is the fireplace. The fireplace continues to be a sought-after element in today’s modern interiors. The use of fireplaces has evolved to match modern design and lifestyle needs, so their design follows the philosophy of minimalism and an organic look in space.

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ARCHITECTURE

FROM IDEA TO 3D VISUALIZATION Photorealistic 3D rendering of space has become almost a must-have step in interior design, playing also a significant role in the real estate industry. Here is a glimpse of this complex modeling and rendering procedure, without which neither architects nor clients can perform Text and photos: NACRT STUDIO

3D visualization allows architects to successfully experiment with different decorating styles, furniture arrangements, and lighting placements in the space. Detailed planning of the space as well as the arrangement of electrical installations significantly reduces the possibility of possible mistakes and unnecessary changes during construction. This planning reduces the possibility of misunderstandings and improves cooperation between the architect and the client.

In addition, 3D visualization plays a significant role in the real estate industry. With an impressive rendering of the space, real estate agencies can better present the projects under construction to potential buyers in order to attract their attention and speed up the sales process.

TEAMWORK

hree-dimensional (3D) visualization is a powerful tool that allows architects, interior designers, and clients to get a realistic representation of a space before the realization of a particular architectural project begins. In order to create three-dimensional renderings of the interior with all the details, colors, and realistic lighting, specific modeling and rendering software is used. This process allows clients to understand the proportions of the space to be decorated as well as the ideas of architects and designers. In this way, clients, in cooperation with the design team, make important, informed decisions about project solutions before development and execution begin.

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The process of 3D interior visualization usually involves the collaboration of several different experts: 1. Interior designer: responsible for creating the design and concept He works on developing the idea, choosing colors and materials, arranging furniture, and all other elements that will be shown in 3D visualization.

3. Render artist/3D modeler: a person who uses specialized software to create geometric models of objects, furniture, textures, and all other elements. He creates a three-dimensional model based on the instructions and ideas of the interior designer. The 3D artist applies lighting and textures to achieve a photorealistic rendering of the interior. He is responsible for rendering the final images that will be shown to clients.

4. Architect: provides structural knowledge and helps plan the arrangement of walls, spaces, openings, and other architectural elements to ensure that the intended idea, in 3D view, can be executed.

These roles may vary depending on the specific project and the team involved. In smaller projects or depending on the organization of certain 3D visualization studios, some of these roles may be combined or performed by the same team member.

3D VISUALIZATION ALLOWS ARCHITECTS TO SUCCESSFULLY EXPERIMENT WITH DIFFERENT DECORATING STYLES, FURNITURE ARRANGEMENTS, AND LIGHTING PLACEMENTS IN THE SPACE ARTIFICIAL INTELLIGENCE

SOFTWARE TOOL The 3D visualization process can be demanding, given the various steps and technical skills required to achieve quality results. The software used in this process takes time and effort to learn and use effectively. It is extremely important to know the software tool well in order to present the desired idea as well as possible. Technical precision and expertise are also essential. The timeline is something that greatly affects modeling, texturing, lighting, rendering, and post-production, and it depends on the complexity of the project as well as the client’s requirements. Sometimes it is necessary to invest several hours or even days in order to achieve the quality desired. Also, advanced 3D visualizations can be resource-intensive for a computer. Powerful computers with high-performance graphics cards are needed for the realization of these processes. Planning, good organization, communication, and the expertise of the team are the key factors for achieving a successful 3D interior visualization.

Artificial intelligence (AI) can be used for 3D rendering of interiors and can be a useful tool for 3D. Using AI for 3D rendering has several drawbacks, one of which is the weakness of generating completely new, creative ideas. Lack of context is also one of AI’s weaknesses. Man is still much better at interpreting client requirements, styles, and other factors that must be taken into account when designing an interior. However, the use of AI in interior design and rendering has become very popular in the last year, despite the shortcomings of generic solutions. As algorithms are constantly advancing, their application in various industries is gaining more and more attention.

ANIMATION Animation cannot replace 3D visualization but is used exclusively as a supplement or extension of visualization. Animation adds an element of movement and dynamism. Currently, it is very popular and has many applications in industry, and with the advancement of technology and the appearance of even more powerful computers, it is also becoming more accessible to work with. It is popular for its ability to depict movement, the interaction of elements in space, and changes over time. However, animation requires more time, resources, and expertise to realize than static 3D visualizations. Animation is done by the same experts who do 3D visualization, but it requires a more advanced level of software knowledge.

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FURNITURE DESIGN

WHEN THE INDUSTRIAL CHANDELIER COMES WITH A SOUL Studio Industrija is a small but sufficiently well-equipped carpentry workshop where Aleksandar Kostić, a professor at the High School of Construction and Geodesy from Belgrade, draws endless creative inspiration for unique pieces of furniture that, as a combination of industry and nature, originally ennobles the space for which it was custom-made By: ANA KRALJ

Photo: STUDIO INDUSTRIJA

ll good ideas always come about by chance, and so the idea was suddenly born in the head of a Belgrade professor that, in addition to his regular job, he would devote himself to the design and production of unique pieces of furniture. While furnishing a friend’s apartment, Aleksandar Kostić could not help but notice that pieces of furniture have the same type, seen within the framework of an established design and pattern that is replicated at every step and in every showroom. This led him to think about it and productively conclude that he could do it better. At the beginning, he only had the idea to jump out of that template and not make it according to the standard, but according to the requirements of the space where furniture finds its place and refines it, with one obligatory note, and that is, in harmony with nature. From the initial idea until now, he has already made many original pieces of furniture, and in the meantime, he has enriched his workshop with modern machines and tools in order to bring his creative ideas to perfection that have no replica.

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Aleksandar Kostić, founder, Studio Industrija

What do you most often make of furniture? Is it usually just a piece, such as a table or display case, or do you completely furnish entire spaces?

— When we say that we produce pieces of furniture, the first association is usually a coffee table or something small.

That was, in fact, the initial idea, but later, from small things to lamps and chandeliers, we began to draw summer kitchens, massive garden tables, shelves and showcases for both home and hospitality facilities, and everything else that we thought could find an application. The idea was to make slightly different things, as we see them. In the end, it is always our vision that we complete with the client’s wishes.

Where do you find inspiration for such original products? At what moment is your vision born?

— We look for inspiration in the spaces we furnish. Not every piece of furniture can find its place everywhere; the space and the furniture must match. When we feel the space and hear the client’s wishes, we photograph the space and start drawing the furniture and choosing materials and tones. Unlike other studios that present a sparse and unrealistic rendering of an apartment with furniture, we insert furniture into the photographed space, and the client gets a 100% realistic representation of how the furniture will look in the room. This is very important because people want to see an absolutely realistic representation of their future bedroom, kitchen, bathroom, etc. We call it a photo from the near future.

A custom-made summer kitchen in a family house

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Custom furnishing of a pet shop

allow for more creative design and manufacturing expression?

— We started with small hand tools and small machines. The challenge was to create something good in bad conditions, but despite the limitations, we somehow managed to make a good product. Over time, we invested in machines and built a solid workshop that is still small today but sufficient for all our creative ideas. With modern machines, we have made our work easier and created greater possibilities in processing, but large machines will never be able to leave that natural final moment as human touch with a small tool can. We used to buy cut, semi-finished pieces of wood and

A good example of this was at the very beginning of our business, when we were hired by the owner of the ethno restaurant “Braća” from Batajnica, Žare Kuvačić, with the desire to create a homely atmosphere in the spirit of the restaurant. We took photos of all the rooms, developed the idea, fit all the elements in the space, and presented it to the owner, who, after realization, received an absolutely identical space that was presented to him.

How would you describe a unique design that gives an author’s stamp to the furniture you make?

— The directions on which we base our design are Pure Industrial and Steampunk, and we adapt it to natural materials; more precisely, we create a combination of industry and nature, custom-made to the client’s wishes, and then we justify our slogan “custom-made nature”.

It often happens to us that the order is for a standard chandelier or planter. In that case, we analyze all the flaws of the standard and bring our ideas into realization, which results in the final product having a creative stamp, having a soul, and as such being unique. We never combine standard things. Something always has to be special to stop the viewer’s gaze, to attract attention, to be special for some symbolic detail, so the product gains its charisma. Why don’t we install standard bulbs on our chandeliers, which every cafe and restaurant has? Because a ten times larger light bulb combines ten times better with the space and stands out in its purpose and originality.

THE DIRECTIONS ON WHICH WE BASE OUR DESIGN ARE PURE INDUSTRIAL AND STEAMPUNK, AND WE ADAPT IT TO NATURAL MATERIALS; MORE PRECISELY, WE CREATE A COMBINATION OF INDUSTRY AND NATURE use them for various creations, but now we have the possibility to use the whole tree and process it as needed. What is natural should remain natural; we try to leave the property of wood in all its beauty as much as possible with minimal processing.

What materials do you use to make furniture? You mentioned the combination of industry and nature. Does that mean, first of all, clean wood and recycling?

— The most common material is solid wood.

Compared to chipboard, MDF, and similar products, only real wood can provide a na-

Is furniture with a soul manufactured primarily by hand, or does today’s technology Manufacturing of a solid wood bed

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Details of furniture, restaurant “Braća”, Batajnica

tural feel. Not to mention the beautiful smell of wood when a piece of furniture is brought into the space. In particular, we use oak, pine, thermotreated ash, walnut, and poplar, and we usually combine them with wrought iron and modern “Edison” bulbs, depending on the piece of furniture being made. We often take old wood, such as railway beams and old wooden wheels, which we process and refine to create a new life out of them while at the same time preserving their history and authenticity. We also work with marble and more modern materials; we combine several materials in order to respect the direction, whether it is an ethnic or a minimalist choice.

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Who are your customers mostly, and for which spaces do you make furniture?

— Our clients are mostly people who don’t buy classic furniture in salons but want something unique in their space. Not every space is created for a standard piece of furniture, nor is every dimension suitable. Sometimes we get a very clear guideline of what the client would like, and we add our own ideas in order to reach an absolute result. And sometimes we simply start from

WE DO NOT DO SERIAL PRODUCTION. THERE IS NO TABLE THAT WE HAVE MADE TWICE. EVERYTHING IS THE PRODUCT OF ONE MOMENT, THE ONE WHEN WE COMBINE OUR CREATION WITH NATURE AND CREATE THE RIGHT AND CUSTOMMADE BALANCE IN PERFECTION scratch to think about and combine space through drawings, sketches, and photo manipulations in Photoshop. We make furniture for living rooms, such as coffee tables, chests of drawers, shelves, beds and wardrobes for bedrooms, bathroom furniture, all the way to garden furniture, and everything else where we can express ourselves creatively. We do not do serial production. There is no table that we have made twice.

Everything is the product of one moment, the one when we combine our creation with nature and create the right and custom-made balance in perfection.

No previous knowledge is required for this job; only a love for nature and creation is required.

You just need to see things from a different angle and make them better, more beautiful, and more comfortable for life. As a professor at the High School of Construction and Geodesy, it was unthinkable for me to start producing pieced furniture, but while I was looking for a balance, my love and affection for this hobby prevailed, primarily out of a great desire to create a unique product from nature out of nothing. My son Nikola also got fond of this job; he always found himself near the workshop to help. His big contribution was when he came up with the idea to renovate his room in an industrial style and even made detailed sketches. This later influenced the very name of the company, Studio Industrija..

CONTACT

Studio Industrija Aleksandar Kostić, 062 8856241 studioindustrija

How unusual is it that, as a professor at the High School of Construction and Surveying, you developed a hobby into such a creative craft?

Custom-made TV shelf

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