Real Estate EN Volume 23

ISSN 2812-7293

M A G A Z I N E | APRIL NO. BROJ 2317| OCT / NOV 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

THE RESIDENCES AT THE ST. REGIS BELGRADE

A MODERNIST VIEW OF LUXURY TOURISM - CATALYST FOR ALBANIA’S ECONOMIC GROWTH

WHO AWAKENED THE DORMANT LOCATIONS OF BELGRADE?

ISREALI COMPANIES CREATE LEADERSHIP POSITIONS AMONG INVESTORS IN THE SERBIAN ECONOMY

CONTENT

08 NIS SRBIJA

36 NEVENA JOVANOVIĆ COLLIERS ALBANIA

A PANEL DISCUSSION ON THE IMPORTANCE OF SUSTAINABLE DEVELOPMENT ’’OUR SUSTAINABLE COMMUNITY’’

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TOURISM - POTENTIAL AS A CATALYST FOR ALBANIA’S ECONOMIC GROWTH

42 SUSTAINABLE DEVELOPMENT

WORLD GREEN BUILDING WEEK

LIONS KLUB BEOGRAD

FROM CARING FOR THE LOCAL COMMUNITY, TO GLOBAL NETWORKING, WITH THE LEADING IDEA OF - WE SERVE

16 THE RESIDENCES AT THE ST. REGIS BELGRADE

A MODERNIST VIEW OF LUXURY

22 H.E. JAHEL VILAN,

AMBASSADOR OF ISRAEL

ISREALI COMPANIES CREATE LEADERSHIP POSITIONS AMONG INVESTORS IN THE SERBIAN ECONOMY 30 AFI EUROPE SERBIA

WHO AWAKENED THE SLEEPING LOCATIONS OF BELGRADE?

34 DIMAND

THE FAMOUS FIX BREWERY IN THESSALONIKI IS RETURNING TO LIFE

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48 TRAVEL

TENERIFE, WHERE IT’S SPRING

58 ARCHITECTURE

MAKEOVER OF THE ACADEMIC PART OF THE CITY OF NIŠ

68 KARE SRBIJA

SPACE THAT EXUDES LUXURY

FOREWORD

AT THE BEGINNING…

MAGAZINE NO 23 | OCT/NOV 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

Nevena Jovanović

nevena.jovanovic@realestate-magazine.rs

ADVERTISING SALES DIRECTOR

Jelena Randjelović

jelena.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 magazin: nekretnine, dizajn & lajfstajl / glavna i odgovorna urednica Gordana Knežević Monašević. - [Srpsko izd.]. - Vol. 1, no. 1 (2016)- . - Beograd : West Media World, 2016- (Jagodina : Zlatna knjiga). - 28 cm Tromesečno. Ima izdanje na drugom jeziku: Real Estate magazine (English ed.) = ISSN 2812-7293 ISSN 2812-7293 = Real Estate magazin COBISS.SR-ID 53491721

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very beginning of a new chapter in life is important to mark with gratitude for the opportunity we have been given. As the new editor of Real Estate magazine, I would like to express my gratitude first to the great team that has been designing this magazine for years and presenting it to readers with enthusiasm and a desire to provide an overview and analysis of the most important topics in the field of construction and real estate management.

While preparing the pages of this edition, the biggest challenge was choosing only certain topics and available content from the real estate world that we will cover for you. News came from all sides of our region in great numbers, about projects that are ending or starting after long preparations. Information coming from the industry does not speak of uncertainty, while political topics and the energy sector occasionally quicken the pulse due to possible new unplanned impacts.

It is clear that the real estate industry will continue to innovate and evolve as we continue to face volatility that does not bypass the construction market. New projects are imbued with new concepts and ideas that contribute to the imagined solution for which real estate is created. Green building is a concept within the framework of sustainable development that at its core imposes the need for novelties - new technologies, changes in the choice of materials, and a different view of construction and real estate management.

Without novelty, there is no progress or improvement, so new beginnings with new ideas and new stories are opportunities for each of us to try to be better at something.

In this issue, we decided to highlight the architecture of the sublime hotel industry

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and answer how design and decor contribute to a residence receiving the epithet of luxury. For an example of how a brand such as St Regis can announce to a potential buyer what pleasure for the eyes and soul is hidden within the walls of the building, see the text on the sublime concept of housing. In the following editions, through the theme of architecture and design, we will reveal professional perspectives on projects from the world of housing and industry, as well as look for top tips for raising energy in the environment of your living and working space.

On the pages of this issue, read more about the leaders in foreign investments in Serbia who come from Israel. In the interview with His Excellency Jahel Vilan, the ambassador of Israel in Serbia, as well as in the text about AFI Europe Serbia, you can find interesting details about companies from this country that have invested over two billion euros in the previous period.

An interesting analysis comes to us from the region and provides information about the connection between investment in real estate and tourism in Albania. In a conversation with Stella Dhami, the director of Colliers Albania, you will learn about planned and implemented projects in Tirana, on the Ionian coast, and market trends across Albania.

It will be our pleasure to walk with you in pictures and words in this and the following issues through details that not only reveal comprehensive news but also the essence of the changes occurring in the real estate market.

Your,

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NEWS

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Photo Tanjug / Zoran Petrović

CHINA INTERNATIONAL FAIR FOR INVESTMENT & TRADE WAS HELD IN XIAMEN

he topics of this year’s CIFIT (China International Fair for Investment & Trade) in Xiamen, were green energy, sustainable development, and digital economy. Serbia was once again a guest of honor this year and therefore became the only country in the history of the fair that got the chance to hold the title of a guest country of honor twice. The fair gathered more than 1000 companies.

The Serbian delegation in China, in addition to Expo 2027, also presented the Bio4 campus in Belgrade, the investment district in Kragujevac, as well as the investment map, which presents 13 fields up for investment in Serbia, that will bring great results in no time to all those who invest in it.

CONSTANTINE THE GREAT AIRPORT IN NIŠ IS GETTING A NEW TERMINAL he construction of a new terminal at the airport Constantine the Great in Niš, is planned to be finished by the end of November 2023. It is expected that 1.5 million passengers will already be able to use this terminal next summer.

Currently, there are 13 routes operating from Niš, out of which 3 are seasonal and 10 are regular. According to the numbers gathered by the airport in Niš, a new record has been set this year, exceeding the previous one set in 2019, when the airport had more than 422 000 visitors. This year, in July and August only, more than 50 000 travelers chose the airport in Niš for their trip.

Source: Zijin Copper

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n the scope of the investment forum One China, One Serbia, which was held within the 23rd China International Fair of Investment and Trade, two memorandums have been signed. Memorandum on the development of the lower zone of the Čukaru Peki mine (by signing the memorandum Zijin Mining confirmed its intentions to invest an additional 3,8 billion dollars in Serbia) and a memorandum on the development of the 300MW solar power plant for the company’s needs.

With these two investments, Serbia will rank amongst the top European copper manufacturers and leading gold manufacturers but will also create the possibility for additional investments. The investment in the solar power plant, worth 200 million dollars, enables a synergy of renewable resources such as energy and mining, as well as better protection of the environment since the use of carbon and fossil fuel energy will be reduced.

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SOurce: Constantine the Great Airport Gallery

ZIJIN MINING INVESTS ADDITIONAL 3,8 BILLION DOLLARS IN SERBIA

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CORPORATE

A PANEL DISCUSSION ON THE IMPORTANCE OF SUSTAINABLE DEVELOPMENT ’’OUR SUSTAINABLE COMMUNITY’’ In Belgrade, under the initiative of the ’Novosti’ company, a panel discussion ’Our Sustainable Community’ was held, about the importance of the sustainable development, as well as the importance of contributing to realisation of the Goals of sustainable development of United Nations, where the participants of the panel were Dubravka Djedović Handanović, Minister of Mining and Energy in the government of the Republic of Serbia, Kirill Tyurdenev, the CEO of NIS, and Milun Todorović, mayor of Čačak Text & photo: NIS

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n the introduction of the panel the spokesman was Slobodan Krstović, the Sustainable Development Department director of Naled, who indicated that it is extremely imporant to think about what we’re leaving to the future generations and that in order to build a long-lasting sustainable community a synergy of numerous social factors is needed.

A special focus of the discussion was on the need to preserve the development of natural resources, as well as the improvement of the life quality of our fellow citizens. One of the topics that was up for discussion was the way to make our community more inclusive, safer and to enable it a long term sustainable development in challenging times. One of the topics that were under the spotlight was also the question of energy transition for achieving the Sustainable Development Goals.

Dubravka Djedović Handanović stated that the investments in energy have to be a priority in the next 20 years. ’We have three goals, first one is the energy independence, then securing the lowest price for the citizens and the economy and the third is to have the security of supplying and work of our energy system.

Energy is department that demands long-term planning and it takes a lot of time before seeing the results. We have adopted a plan of investing in the energy infrastructure in the following 10 years, which foresees investments

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ENERGY IS DEPARTMENT THAT DEMANDS LONGTERM PLANNING AND A LOT OF TIME IS REQUIRED FOR THE RESULT TO BE EVIDENT

In ecological and business projects, which indirectly have a positive impact on environmental protection, NIS has invested more than

900

million euros since 2009.

of 15 billion euros, first and foremost in the renewable resources of energy, distribution and transmission networks, reversible hydropower plants’ said the minister.

Kirill Tyurdenev said that for the NIS company, the energy transition is not something new, but a path that the company has been following for years now. ’On that path, our Green Agenda is of great significance. In ecological and business projects, which indirectly have a positive impact on environmental protection, NIS has invested more than 900 million euros since 2009. The improvement of environmental protection is among our top priorities and we realise projects with the intention that they don’t contribute only to our business results, but to a better ecological picture of Serbia’ Tyurdenev concluded.

Milutin Todorović pointed out that stability is of great importance for the citizens, ’next to healthy air of good quality, good, healthy and tasty food, quality water, people also want stability in all of the following elements – fresh air, electricity supply and water supply.’ The fact is that in Čačak the consumption is getOCT/NOV 2023

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ting bigger and bigger due to the industrial growth. In order for the citizens to have a better quality of life, we need to strengthen the economy and infrastructure which we are intensely working on with the Government and the ministry.

My personal recommendation is that the local self-government always needs to stand with its country, ministries and leadership so the citizens can benefit as much as possible.’ Todorović concluded.

IN THE FIELD OF SUSTAINABLE DEVELOPMENT NIS IS GUIDED BY THE GLOBAL GOALS OF THE UNITED NATIONS AND IN ITS REPORT IT RECOGNIZES 12 OUT OF 17 GOALS, TO THE REALISATION OF WHICH IT CONTRIBUTES WITH ITS ACTIVITIES

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The panel also discussed the importance of education in the community as an important segment of sustainability.

NIS company is one of the pioneers in the field of reporting about sustainable development and in June they published a Sustainable Development Report for the year 2022 on their corporate website, which makes it their 13th consecutive verified report. In this document it is indicated that, with its operations, the company makes strong contribution to the basic principles of sustainable development: economic progress, the development of human resources, the protection of environment and community support. In the field of sustainable development NIS is guided by the global goals of the United Nations and in its report it recognizes 12 out of 17 goals, to the realisation of which it contributes with its activities.

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Photo: Stefan Jovanović · Source: Nova ekonomija

NEWS

MAXIDOM.RS OPENED THE LARGEST CONSTRUCTION CENTER IN SERBIA n a surface of more than 12,700 square meters of warehouse-sales space, within the MAXIDOM.RS assortment, there are 25,000 items intended for the construction and decoration of residential and business properties.

At the opening of the MAXIDORM.RS facility, Jovan Šarenac, the CEO of the company, spoke on behalf of the company, pointing out the importance and the scope of the business venture, while also saying that this is just the beginning of the business plans for the company that he’s in charge of.

“It is an honor and a pleasure of mine that we have the opportunity to open a construction center on the domestic market that provides all the necessary assortment needed for decoration and construction in one place. Our mission is to deliver to customers the products they need at the right time and in a way that saves them both time and money. At the same time, we want to create long-term and strong relations with suppliers and partners from which we can together achieve the desired goals and set standards in the construction sector”, said Jovan Šarenac, the Chief Executive Officer of MAXIDOM.RS. Giving access to a wide range of accessible assortment of products, support of highly qualified and welcoming salespeople, various

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sales channels, and inevitably – punctual delivery are the features that lead MAXIDOM.RS to the core value of the brand, which is very satisfied customers.

Within the wide range of products and services, you can find various construction materials, sanitary ware, roof coverings, house insulation, facades, paints and varnishes, lighting, electrical materials, room carpentry, hand tools, protection equipment, and many other elements for the interior design of apartments and business units according to the needs of the customers.

To save time and make purchases as efficiently as possible MAXIDORM.TS is providing its customers with shopping through an e-platform Maxidom.rs, which offers a simple and flexible system for online ordering, payment, and delivery.

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BECOME A PART OF A LARGE REAL ESTATE NETWORK! West Media World is the only publishing house in Serbia and the region that offers full media support to all real estate and associated industry professionals. Through our regular and special editions, we keep up with all the latest news and trends in the real estate business around the world and in our country. We share information from the real estate market and connect all companies and institutions from Serbia and the region involved in this massive business chain: investors, construction companies, architects, designers, furniture manufacturers, manufacturers and importers of construction materials, interior furnishing companies, banks and insurance companies, competent state institutions, brokerage and consulting companies, appraisers, real estate agencies, and business associations, all the way to the end user – buyer or tenant.

OUR PORTFOLIO INCLUDES: Regular REAL ESTATE magazine’s print edition, published bimonthly in both Serbian and English

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REAL ESTATE magazine’s digital media platform, which includes a bilingual portal in Serbian and English, as well as official profiles on social media (Instagram, Facebook, and LinkedIn)

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REAL ESTATE magazine’s special, themed print editions

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Newsletter promotions through our large client base

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Organization of round tables, panels, and conferences

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M A G A Z I N E

If you want to learn about the latest news in the real estate market, network with new business partners, share common problems and visions, improve your business, or better advertise your products and services, join our large REAL ESTATE network. Follow us on our portal and social media profiles, subscribe to our print edition, write to us or call us.

OCT/NOV 2023

REAL ESTATE, DESIGN & LIFESTYLE

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NEWS

FROM CARING FOR THE LOCAL COMMUNITY, TO GLOBAL NETWORKING, WITH THE LEADING IDEA OF - WE SERVE The association Belgrade Lions Club is a humanitarian association of citizens, a branch of the international humanitarian organisation Lions Club International, one of whose goals is to collect material resources and provide help where the Association estimates that such help is of particular interest to the broader community Author: JOVANA NIKOLIĆ

Photo: LIONS KLUB BEOGRAD

Donation of disinfection devices

elgrade Lions Club is a voluntary, non-governmental, non-political, non-religious and non-profit humanitarian organization. The club itself was founded in 2013. with the idea and intention to work and act humanitarian, to contribute to the improvement and influence the development of the local community. To this day, it keeps operating, first of all, by transferring ideas, useful information, or-

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ganizing various workshops, aid actions, that is prevention, but also collecting funds for different types of support and help to fellow citizens.

In the Republic of Serbia, there are five Lions clubs: Belgrade Lions Club from Belgrade, Lions Club Mileva Marić Einstein from Novi Sad, Lions Club Neoplanta from Novi Sad, Lions Club Petrovgrad from Zrenjanin and Lions Club Niš from Niš.

The fields of operation of Lions Club

International are prevention and treatment of bad eyesight and blindness, prevention and detection of diabetes, taking care of the elderly, accompanying the young in their maturing and acquiring social and leadership skills as well as taking care of the environment.

The most important international Lions Club International project in Serbia is the Youth Exchange project.

The Youth Exchange program has been successfully established in Serbia for the past ten years, with the goal of encouraging young people aged 17 to 21 to travel and reside in foreign countries and thereby expand their knowledge of other cultures, social and economic environments, as well as to compare themselves with peers from abroad.

One of the regular actions of the Belgrade Lions Club is preventive vision examination with special cameras for children, when the coordinator, Phil Nathan, comes to Belgrade with the camera for eye screening. Vision Screening Camera is a handheld, portable device designed to quickly and easily detect sight issues in the youngest patients of

Diabetes prevention action

six months of age and up. It is extremely useful, because the results are ready in a few seconds and the method itself is non-invasive, because the screening is done from a distance of one meter, thanks to sounds that help to keep the focus of the child and the child’s focus towards the camera. The result is easy to interpret. Screening consists of examining the children’s eyes, by using the above-mentioned device, so the presence of any eventual eye disorders could be done.

Besides that, in the pre New Year’s Eve period, actions of collecting clothes, jackets, blankets and covers are organized for the Shelter for adults and older persons in the Kumodraška street in Belgrade. This year, the Belgrade Lions Club donated clothes and a computer to the Center for the Education of Children and Youth in Belgrade, and donated a washing machine to the Moša Pijade Orphanage. During the global SARS Cov2 pandemic, the Lions donated devices to the Tiršova University Children’s Clinic and the Institute for Mother and Child, which can be found at the entrance and are used for disinfection when entering a hospital or a ward.

By following its already established practice, every year a diabetes prevention campaign is carried out, when the sugar measurement of passers-by is organized, during which doctors, who are

LIONS OF SERBIA ARE TRYING TO KEEP DEVELOPING THEIR IDEA OF LIONISM WITH ITS WORK, POSITIVE ENERGY, AND ENTHUSIASM SO THEY CAN TRANSFER IT TO THE PEOPLE IN THEIR SURROUNDINGS at the same time members of the Club, give recommendations when it comes to diet and lifestyle. Last year, the action was carried out in the Galerija Shopping Center.

The project that was last implemented, was received by the Secretariat for Culture of the City, in the scope of BEDEF (Belgrade’s dance festival for children), holds the name Children as cultural creators and performers.

Lions International Club often organizes trainings and educations, as well as forums, where all Lions clubs from the region gather and socialize.

Belgrade Lions Club, gathers every

second Wednesday of the month at the premises of Colliers from 7 p.m.

The first Charter evening of the Belgrade Lions Club was held on November 9th, 2013. This year, on November 3rd, Belgrade Lions Club celebrates its ten years of existence and on that occasion organizes a charter evening, where funds will be collected to help the Union of the Blind of Serbia, with which the Club has signed a partnership agreement. Anyone who wants to, is welcome to participate. And all the details can be found on Facebook and Instagram pages of the Belgrade Lions Club.

WE SERVE – THE GUIDING STAR OF 1.4 MILLION PEOPLE Lions Club International was founded by Melvin Jones in 1917, as a result of his dream of a Chicago businessman, who believed that the local business clubs should expand their activities, both for their own betterment and for the betterment of the community and the world at large. Shortly after the formation of Lions Club International and the foundation of the motto, WE SERVE, Helen Keller at the International convention, invited all the Lions of the world to be ’the knights of the blind and visually impaired in the fight against the dark’. Since then, up to this day Lions of the world protect the blind and visually impaired and they launch their first global action ‘SightFirst’ which today represents an extremely valuable program, in which more than 143 million US dollars have been invested. Lions Clubs International today counts over 1.4 million members and 46,000 clubs in over 205 countries around the world.

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PROJECTS

A MODERNIST VIEW OF LUXURY Explore the architecture of the first St. Regis branded residences in Southeast Europe 16

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he Residences at The St. Regis Belgrade offer a refined modern-day interpretation of the St. Regis legacy for those looking for the ultimate contemporary luxury Ever since its foundation in 1904 at the corner of Fifth Avenue and 55th Street in the then-most exclusive residential area of New York, St. Regis, one of the world’s most renowned and luxurious hotel brands, has become known for choosing only the finest and most prestigious locations around the globe

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THE WHOLE INTERIOR IS ARTFULLY INSPIRED BY SEVERAL ELEMENTS SPECIFIC TO SERBIA ter of the Serbian capital. The Residences at The St. Regis Belgrade are situated in Kula Belgrade, the tallest building in Serbia, from the 14th to the 39th floors, offering a refined modern-day interpretation of the St. Regis legacy to everyone who is looking for the ultimate contemporary luxury, where every detail is incomparable.

for its hotels and residences. For more than a century, St. Regis has defined modern glamour and sophistication as the leading luxury lifestyle hospitality brand with an uncompromising commitment to excellence and providing impeccable services of the highest class.

Belgrade Waterfront Development welcomes The Residences at The St. Regis Belgrade, Southeast Europe’s first St. Regis branded residences. The Residences will open in December of this year and will be located in Belgrade Waterfront, the most modern and prestigious quarwww.realestate-magazine.rs

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Minimal, airy, and crisp are a few words to describe the Glass House genre present in the 168-meter-tall architectural masterpiece designed by the renowned international architecture company Skidmore, Owings & Merrill Global (SOM). The façade of The St. Regis Belgrade and The Residences at The St. Regis Belgrade is composed of almost 14,000 glass and other panels, and it is one of the few buildings in Europe that rotates 90 degrees through only 10 floors. In that way, the building “twists” in one part, resulting in the now widely recognizable rotated silhouette that symbolically represents the nearby confluence of the Sava and the Danube. The glass façade’s gentle gradient reflects the limitless blues of the Sava River and the sky that unfolds before it and epitomizes the allure of timeless design.

MINIMAL, AIRY, AND CRISP ARE A FEW WORDS TO DESCRIBE THE GLASS HOUSE 18

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COMBINING CLASSIC SOPHISTICATION WITH A MODERN SENSIBILITY, THE RESIDENCES ARE CHARACTERIZED BY LARGE FLOORTO-CEILING WINDOWS Combining classic sophistication with a modern sensibility, The Residences are characterized by large floor-to-ceiling windows, through which plenty of daylight constantly flows in, making the interior always airy and refreshed.

The whole interior is artfully inspired by several elements specific to Serbia. After stepping into the Long Gallery, the heart of the St. Regis Belgrade entry experience, residents can enjoy Rakia, Serbia’s national drink, in the Wine & Cognac Room enriched with a lot of copper elements, freshly brewed coffee in the Salon & Patisserie, inspired by the traditional Kafana, or try enticing dishes in the Brasserie, which celebrates both the history and future of the Serwww.realestate-magazine.rs

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REFLECTING THE DISTINCTIVELY MODERN SHAPE OF THE BUILDING, THE 220 RESIDENTIAL UNITS ARE DIVIDED INTO THREE COLLECTIONS: SIGNATURE, GRAND, AND SKY bian capital. Wrapped by the Long Gallery, The Astor Ballroom, home to the best weddings, celebrations and corporate events of Belgrade, represents at times an extension to the exterior Plaza and, at times the edges of the Belgrade rivers.

Reflecting the distinctively modern shape of the building, the 220 residential units are divided into three collections: Signature, Grand, and Sky. Located from the 14th to 19th floors, the Signature Collection offers slanted windows that provide a oneof-a-kind residential experience. From the 20th to the 35th floor units from the Grand Collection are positioned, and each of them offers a stunning view across the city through floor-to-ceiling glass windows. For those who want to discover the world of extraordinary living and have the stars above Sava at their fingertips, from the 36th to the 39th floor there is the Sky Collection of residences with an ex-

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quisite atmosphere for experiencing the beauty of Belgrade from a completely spectacular perspective.

Residents will also enjoy access to the bespoke services and exceptional amenities of The St. Regis Belgrade hotel, which is also scheduled to open in December, such as the signature St. Regis Butler Service, and The St. Regis Bar, which will serve the legendary St. Regis Bloody Mary cocktail, with its own Belgrade twist. Besides that, the unique spa center, which includes a swimming pool, a stateof-the-art gym, sauna, and massage rooms, offers residents a space to indulge and recharge.

The first 11 floors of Kula Belgrade are reserved for The St. Regis Belgrade, only the sixth hotel of this brand in Europe.

Disclaimer: The Residences at The St. Regis Belgrade are not owned, developed, or sold by Marriott International, Inc., Starwood EAME License and Services Company BVBA, or their affiliates. BW Kula d.o.o Beograd uses the St. Regis trademarks and trade names under a license from Starwood EAME License and Services Company BVBA. If this license is terminated or expires without renewal, the residential project will no longer be associated with, or have any right to use, the St. Regis trade names or trademarks.

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H.E. JAHEL VILAN Ambassador of Israel

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By: NEVENA JOVANOVIĆ Photo: DARIO KONSTANTINOVIĆ

EXCLUSIVE

ISREALI COMPANIES CREATE LEADERSHIP POSITIONS AMONG INVESTORS IN THE SERBIAN ECONOMY Investments by Israeli companies in our country are over 2 billion euros, most of which are invested in retail parks, shopping malls, and residential buildings. Most of the investments, in which Israeli companies invested money, in Serbia and mostly in the capital, Belgrade, brought something never seen before in our country, which makes Israeli companies pioneers in the Serbian market, in that field, he says in an interview for our magazine His Excellency Jahel Wilan, Ambassador of Israel to Serbia

uring the sunny days of September, we visited His Excellency Jahel Wilan at his residence in Belgrade, where he gave us a warm welcome and directly spoke about his old wish to come to Belgrade, on another occasion, as a great lover of basketball and the memory he keeps of Pionir Sports Hall. As the September days in Belgrade were filled with pride due to the sports results of Serbian athletes, including the great success of our basketball players, His Excellency proudly showed us the basketball and all the autographs on it.

The further flow of the conversation inevitably led to our common topic, Israeli investments in Serbia.

ISRAELI COMPANIES DID INVEST IN OTHER SECTORS AS WELL SUCH AS PRECISE CASTINGS FOR TURBO JETS, COFFEE PRODUCTION AND PACKAGING, TRANSPORTATION, RENEWABLE ENERGY, IT SERVICES AND OTHER

The diplomatic relations between Serbia and Israel have been going on for over 30 years, you are the ambassador of Israel in Serbia for three years now, what do you find the most impressive when it comes to Belgrade as a city and also when it comes to Serbian people, which characteristics of the city and the people make you feel at home?

— It is hard to define something specific, but

hospitability, which are qualities or characteristics shared by the Serbs and the Israelis. I’m less into psychology or sociology, but all in all, I really don’t think there is a people more similar to us in the entire world than the Serbs. As mentioned, the combination of these two things, alongside of course, with the extraordinary sympathy of the Serbian public for Israel, gave us a genuine feeling of home from the very first moment.

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without a doubt it is very easy for Israelis, and it was very easy for me personally, to feel at home here, in Belgrade. It’s not that a particular building or street reminds me of Tel Aviv, for example, but something in the general atmosphere and character of the city is very reminiscent. The same is true for the people, one can talk about directness and openness, or about warmth and

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A large number of investors from Israel invests in Serbia, Israeli companies are the owners of several shopping malls in Serbia, certainly, the largest number of investments is indeed in the area of real estate. Are there any indications of new investments in other areas of business and society?

SERBIA AND ISRAEL SIGNED AN MOU ON COOPERATION IN GREEN ENERGY IN FEBRUARY LAST YEAR — Flagship of Israeli investments in Serbia are real estate investments.

With more than 2 billion EUR invested in completed and ongoing projects of office parks, retail parks, shopping malls, residential and mixed use premises, makes Israel a leading real estate investor in the country! Our compa-

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nies have been pioneers in launching concepts of office parks, retail parks and condominium residences, leveling up quality of life to people of Belgrade and Serbia.

Israeli companies did invest in other sectors as well such as precise castings for turbo jets, coffee production and packaging, transportation, renewable energy, IT services and other.

Every time I go and meet with Israeli investors like BIG who is enlarging their presence in the country with new developments and acquisitions, AFI who is developing new projects in Belgrade along with Landmark or any other, I’m witnessing their overwhelming optimism in economic perspectives of Serbia.

In the last two years we witness a numerous new office openings within IT sector and incoming inquiries.

The growing interest we mark in sectors of renewable energy, new materi-

als in roads construction, water treatments and other.

Last year, a Memorandum of Understanding has been signed between the Ministry of Mining and Energy of Serbia and the Israeli Ministry of Energy on cooperation in the field of green energy. How much will good political relations between the two countries help in order to achieve a partnership in the green, energy transitioning as well?

— Serbia and Israel signed an MOU on Cooperation in Green Energy in February last year. The document encourages investments in green energy, joint implementation of projects and bilateral cooperation between relevant authorities, companies and scientific institutions and enables the area of green energy for strengthening of our economic relations.

Serbia has an ambitious goal of

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achieving 40% of energy from renewable sources by 2040 and new regulations (Laws and By - Laws) which make the environment for investments favorable.

Israeli companies are ready and eager to contribute to Serbia’s green goals and energy security.

In this regards, investment of Enlight Energy is the first and the most significant Israeli investment in green energy in Serbia. It has set the ground for other companies to come based on their positive experience.

ISRAEL BECAME A LEADER IN WATER TREATMENT AND EFFICIENT USE OF WATER OUT OF NECESSITY Beside windfarm Kovačica of 104MW, investment of 189 million EUR, the company is expanding its operations with

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Pupin wind farm, 95MW installed capacity, which means they see Serbia as a stable investment environment with positive business outlook.

The embassy has marked a growing interest of Israeli solar companies in exploring opportunities in Serbia which are now on the rise.

I would use the opportunity and mention

THE UPCOMING SEASON OF CONFERENCES IN BIOTECH, IT AND BLOCKCHAIN TO BE HELD IN BELGRADE WILL HAVE ISRAELI SPEAKERS AS GUEST PARTICIPANTS a few Israeli companies with innovative solar technologies such as Solar Edge, Apollo Power and Brenmiller Energy storage. All of them are ready to assist and offer solutions for Serbia’s green transition.

In Israel almost 90% of waste water is being recycled, which is a world record, so Israel has great experience in managing projects in this field, as well as the lowest rate

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of water loss in the network, which is7-8%.

How meaningful and applicable can this information be in Serbia, taking into consideration the cooperation of the Chamber of Commerce of the two countries, Israel and Serbia?

— In line with Serbia’s EU accession and necessity to align with and meet the EU standards in water treatment, the embassy put an emphasis on promoting and introducing Israeli water treatment technologies in Serbia.

The gap between the current situation and the fact that Serbia should develop 350 water treatment plants in the next decades is huge.

So, there’s a room for our and other companies to contribute to successfuly and efficiently meet the needs.

Israel became a leader in water treatment and efficient use of water out of necessity. As you know, 60% of the country is desert so we had to overcome water scarcity and think of the ways how to use to the best extent sources that we have. This resulted in developing technologies which recycle municipal water, in the percentage you mentioned, to the ex-

tent of further use in agriculture or even potable water safe to drink. Israeli company developed sattelite imaging and detection of leakage in existing water pipelines which prevents enourmous losses in water and in finances of public utility companies.

Our companies and their representatives in Serbia (Odis, Arad, Bermad, Fluence, Aqwise, Asterra) are ready to assist and speak to any municipality or industrial facility facing a challenge of treatment of waste water.

In this regards, the embasssy’s economic department is on disposal to municipalities or industries as well, and would be happy to arrange a meeting or a visit of representatives of Israeli companies.

an economy on globally important markets. Could you tell us more about what was achieved in the 2 years following the opening?

— We see it as a valuable step forward in economic relations. It is, as you said, the seventh Representatives Office of the Chamber abroad aimed at expanding and deepening of economic relations between Israel and Serbia especially in areas of innovation, entrepreneurship and hi tech. The Office is very active in connecting the two ecosystems so as our embassy. Recently, we jointly organized a workshop of an Israeli innovation consultancy in Belgrade and we hope to see a tangible fruits of joint efforts in boosting our economic rela-

Two years ago, the representative office of Chamber of Commerce and Industry of Serbia (PKS) in Israel started operating, as the seventh representative office of Chamber of Commerce and Industry of Serbia (PKS) in the world, which is one of the steps in strengthening the presence of the Serbi-

WE PAY UTMOST ATTENTION TO REACH ALL PARTS OF THE COUNTRY AND THERE’S NO BETTER WAY OF DOING IT THEN THROUGH SUCH FRIENDSHIP ASSOCIATIONS OF ISRAEL SERBIA ON ALL LEVELS INCLUDING COMMERCIAL tions across different sectors.

The interest in cooperation between the two economies is reflected in almost all economic branches, especially IKT sector (ICT Information and communications technology), start-up consulting, healthcare, agriculture and the food industry.

Which one of these branches is at the top of the list in terms of our joint cooperation?

— Depends on criteria we apply when evaluating our cooperation. If we talk about Israeli investment in Serbia, then definitely real estate investments remain a flagship. If we talk about bilateral trade, the most imported items from Israel to Serbia are herbicides, fungicides, other medical instruments and bearing housings.

On the other hand, the most exported items from Serbia to Israel are cigarettes, tyres, sheep, bearing housings, parts for turbo-jets which is a brown field investment of Israeli Bet Shemesh Engines.

We had a vivid season of visits to Israel from Serbia connected to startup and entrepreneur-

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the numerous historical sites?

In order to expand our activities and interest of our companies outside of Belgrade, we formed a Serbian Israeli friendship and business club in Niš with branches in Pirot and Prokuplje.

The Club organized various events and donations in cooperation with the Embassy such as Blood Bank donation to the Clinical Center of Niš, donation of board lightnings to all schools in Niš, presentation of road safety devices of Servision company and other. Dr Milić and Mr. Milošević do a wonderful job of promoting our historic friendship and translating it into tangible results.

We pay utmost attention to reach all parts of the country and there’s no better way of doing it then through such friendship associations of Israel Serbia on all levels including commercial.

ecosystem. The upcoming season ISRAELI COMPANIES ARE ship of conferences in biotech, IT and blockto be held in Belgrade will have READY AND EAGER TO chain Israeli speakers as guest participants.

CONTRIBUTE TO SERBIA’S In regards to the other areas of coand investments, a wide GREEN GOALS AND ENERGY operation area of ICT including semiconductor SECURITY industry, software engineering, innovation consulting has a constant trend of growth with presence of Israeli companies in Serbia.

Renewable energy and cleantech are on the rise with a gap in water technologies we hope to meet in the future. During your mandate, the Serbian-Israeli friendship society was formed in Nis.

How does the society function today? What did you like in Nis from

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A large number of Serbian citizens visits Israel throughout the year.

What are some of your favorite places in Israel, that you would recommend as a must see, next to already popularized attractions?

— Well, if you ask me personally, there is only one MUST on the must-see list, and that is my family’s house in the kibbutz where I grew up, but more seriously, I’ll have to be quite conservative here. On the other hand, our standard must-see list is so impressive that you can’t get wrong by visiting the obvious places in Israel. In addition, another plus of Israel is that you can easily enjoy main attractions in a short time. At the top of my list is definitely Jerusalem, the city where I lived. From my non-objective point of view, one of the most beautiful cities in the world and certainly one of the most interesting.

Masada and the Dead Sea are the gems in terms of natural and historical sites and of course you have Tel Aviv, with its own cosmopolitan charm.

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KORPORATIVNO

WHO AWAKENED THE SLEEPING LOCATIONS OF BELGRADE? Over the past few years, the number of foreign investors in Serbia has increased, especially in the field of construction. However, not every one of them can commend for its quality, combined with duration. One of such investors is the renowned Israeli company AFI Europe Serbia, which through its international business, state of the art projects and almost twenty years of business in Serbia, deservedly takes place of one of the most admirable investors on the Belgrade and regional real estate market Skyline Belgrade

Text & photo: AFI EUROPE SERBIA

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he arrival of AFI Europe on the Serbian market indicated the beginning of a change in the city’s architecture and the creation of projects that will make Belgrade recognizable locally, regionally and globally.

A new beginning, both for them as investors and for Belgrade’s business, happened in 2005 when AFI Europe Serbia announced a new era of construction, through the beginning of construction of Airport City, which today represents the largest and most modern business park in the region. Located in New Belgrade, this complex of office buildings hinted at another major thing for the company AFI Europe Serbia, which is the transformation of neglected locations into the

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core of business events. Airport City - a city within a city and the first business park of its kind showed the full potential of the company, but also became one of the most successful regional stories and a brand in itself.

A serious business approach, market analysis, engagement of some of the most renowned experts on a world level and a reputation based on quality, which we’ve never quit, motivated the company AFI Europe Serbia to continue in the right direction. The wave of success was followed by investments that greatly contributed to the development of Belgrade and raised Serbian architecture ’’beyond the clouds’’, which

Adir El Al, CEO of AFI Europe Serbia

’’In addition to recognizing the potential of the domestic market for the creation of projects that bring innovations in the field of architecture and construction, the buildings behind which we stand as the company AFI Europe Serbia represent a unique concept that offers complete, contemporary and functional solutions, in accordance with the highest world standards and trends. The goal that we have for our projects is for them to become authentic features, not only of the business part of Belgrade, but also of the Serbian capital in general, in which, I am very proud to say, we have been succeeding for almost two decades now. The fact that you can find local and regional headquarters of some of the world’s largest companies in our buildings, to which we’re reliable partner for growth and development, proves our success. We continue on this path, as shown by our new projects such as AFI City Zmaja and Skyline AFI Home’’, said Adir El Al, CEO of AFI Europe Serbia.

was almost literally done by one of our most authentic projects - Skyline AFI Tower.

This innovative residential and business complex once again demonstrated the power of the AFI Europe Serbia company, to turn a completely neglected location, at the top of Kneza Miloša street, into a new landmark of Belgrade and the most luxurious location to live and work at. Skyline combines a state of the art business complex located in a 31-story tower with two residential buildings, which brought the most modern global housing trends to the domestic market. The particularity that sets the third tower of Skyline AFI Home apart from other residential buildings is that all apartments in it are intended for long-term rental. Skyline AFI Home extends over 27 floors, with a total of 147 apartments, of different structures, from two-room to five-room. This complex consists not only of the most contemporary furnished apartments, but also numerous luxurious restaurants, bars and shops, with a crown of the entire offer that is the spa and wellness center. All the facilities in the offer will make this place a center of good vibrations and will become a synonym for high-quality life, tailored to world standards.

Another successfully realized investment of an Israeli company, at a walking distance from Skyline, is Business Garden, which represents a place for modern business, and the equipment of the building is such that it provides maximum capacity for absolutely all companies that want to run their business in just ten minutes from the city center with benefits that contribute to comfort increase and productivity of all employees.

Continuing what they’re best at, AFI Europe Serbia awakens another location of enormous potential and creates the most modern business www.realestate-magazine.rs

complex AFI City Zmaj from the former Zmaj factory in Zemun. Just as Airport City used to be, this project is designed to expand the range of business opportunities and become the new business center of Belgrade, which, with its position and characteristics, offers excellent conditions for work and further development. Putting the user experience first, the latest project

AFI EUROPE SERBIA AWAKENS ANOTHER LOCATION OF HUGE POTENTIAL AND CREATES THE MOST MODERN BUSINESS COMPLEX AFI CITY ZMAJ FROM THE FORMER FACTORY ZMAJ IN ZEMUN

AFI City Zmaj

of Israeli investor brings everything that the research parameters of the future demands of modern companies and their employees show.

Green construction, accompanied by green areas and additional amenities make AFI City Zmaj a ready base for all young, innovative and modern companies that want to keep up with global business trends.

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NEWS

BELGRADE IS GETTING A NEW, MODERN MARKET WITH A GREEN ROOF It has been known for some time now that the best way to get to know a place, and even an entire nation, is by going to the market, which represents the "soul" of every city. That’s why the residents of Belgrade, its visitors, guests, and tourists will be happy to hear the news that the Serbian capital will soon receive a new market. And not just any market!

long with many world trends that it brought to Serbia, Belgrade Waterfront brings us the market trend as well, near Galerija, the largest shopping center in the region, a unique corner of quality food and a special atmosphere will be opened, like those we had the chance to see in Italy or Spain. It is a similar concept to La Boqueria in Barcelona and Mercato Centrale in Florence – a gastronomic destination with a unique ambiance where the best tastes and smells meet the energy of the city.

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It’s a similar concept to La Boqueria in Barcelona and Mercato Centrale in Florence

The architectural solution itself is such that it takes one look to make it clear that this place will become a new city attraction and one of the favorite meeting places. Several entrances will lead to the sun-kissed central hall, which will be the “heart” of the market. Traditional materials such as brick will give this modern building the special warmth and charm of a bygone era.

Imagine a place where the irresistible aroma of freshly baked bread and pastry blends with the well-known smell of Pirot cheese, Zlat-

ibor prosciutto, and the delicious Šumadija fruit. A special magic will be created by the vivid colors of seasonal flowers and the delightful scents of herbs.

But it’s not just about the food, it’s about the whole atmosphere! Everything is designed so that you don’t go to this city mar-

EVERYTHING IS DESIGNED SO THAT YOU DON’T GO TO THIS CITY MARKET JUST FOR GREENS AND THE BEST QUALITY DELI, BUT FOR A COMPLETE PLEASURE FOR ALL THE SENSES ket just for greens and the best quality deli but for a complete pleasure for all the senses.

In addition to the opportunity to taste the most diverse specialties, visitors of the market will be able to eat “something on the go” or sit in a restaurant, have a cup of coffee,

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grab a drink, or simply take a break and absorb the vibrations of this unique ambiance.

Although this is not a green market in its literal sense, it is, indeed, very green. The roof with a fortune of natural greenery is perhaps the biggest attraction and certainly a great privilege that even much more famous markets in the world do not have. In addition to many stalls, shops, cafes, and restaurants, there will also be a garage for visitors.

The new, modern, and dynamic urban market will surely become the new address of local hedonists, as well as numerous tourists who as it is already known, in addition to hospitality and nightlife, most often praise Serbian cuisine and authentic local specialties. The vibrant spirit of this place will be engraved in their memory and will become one of those things that will make them want to return to Serbia and especially the Belgrade Waterfront again.

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NEWS

THE FAMOUS FIX BREWERY IN THESSALONIKI IS RETURNING TO LIFE The company DIMAND presented its investment plan for Thessaloniki at a spectacular event which was held in held in the former premises of the FIX brewery. Currently, the company is implementing its development plan with multiple investments throughout Greece, with a total gross value of around €400,000,000, among which the major urban renovation of the FIX brewery complex stands out his company DIMAND presented its investment plan for Thessaloniki at a spectacular event that was held in the former premises of the FIX

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brewery. The company is implementing its development plan with multiple investments throughout Greece, with a total gross value of around €400,000,000, among which the ma-

jor urban renovation of the FIX brewery complex stands out.

This famous brewery is a part of the industrial heritage of the country, and its renewed look is a part of the bigger contemporary reconstruction that DIMAND came up with and is being implemented in the north of Greece, The investment in the FIX brewery is estimated at €180,000,000, and the company ELVIAL participates as a co-investor.

The project includes the renovation and reuse of three preserved complexes of the former FIX brewery, and the construction of two new facilities with two common underground parking spaces. The new building additions will be in full compliance with the internationally recognized sustainable development system LEED and will receive GOLD-level certificates. The process of finishing construction works is currently underway on a ground of 46,500 m2, which will consist of residential units, hotels, catering and cultural spaces, and commercial and office spaces.

The investment plan of the company

DIMAND in Thessaloniki includes the simultaneous development of the first large bioclimatic business park in the northern part of Greece, which will be implemented together with the investment company PRODEA. HUB26 is located across from the FIX brewery industrial zone and will become an innovative business space for national and multinational companies. The new business complex will consist of four buildings, with a total surface area of 20,200 m2 and basements of 10,800 m2, covering an area of 7,700 m2. Adding the CITRUS building expands the structure to 4,600 m2, on a total area of 9 hectares. The construction of the HUB26 and CITRUS complex will be completed in several phases by autumn 2023 at the latest.

In addition, DIMAND continues with its investments in the north of Greece by creating the largest logistics center, located only 23 kilometers from the center of Thessaloniki and 16 kilometers from the city’s port. In addition to that, they work on the “Skyline Project”, where DIMAND along with the company Premia Properties participates in the investment plan of Alpha Bank, which includes 573 objects of various purposes throughout the country, of which around 50 are located in Thessaloniki.

At an event that was held under the sponsorship of the city of Thessaloniki, the Prime Minister of Greece, Kyriakos Mitsotakis, addressed those who were present. “This project (the FIX Brewery) will require hundreds of millions of euros in investments, with the visionary project HUB 26, the first bioclimatic business park. It will create many new job positions and become the new center of culture and entertainment for the city of Thessaloniki,” the Prime Minister said. ’We feel proud of the renovation of this great property, which is one of the most important industrial monuments www.realestate-magazine.rs

of Greece and a part of the city’s history. We hope that its transformation contributes to the revitalization of the wider area and the overall renewal of the West Entrance of Thessaloniki’, said Mr. Dimitrios Andriopoulos, Vice President and CEO of Dimand, underlining that ‘for DIMAND acquisition and regeneration of buildings of historical importance is a strategic choice, because

vision for Thessaloniki includes all the elements that will transform the city into the metropolis of the future.

DIMAND COMPANY DIMAND is one of the leading Greek companies in the field of real estate development and is listed on the Athens Stock Exchange.

Since its beginnings in 2005, the company has adopted the philosophy of “green” buildings at the core of its activity, creating a new market in the field of real estate and setting an international example. Its business focus is on the implementation of largescale urban renovations, modern bioclimatic office buildings, complex mixeduse projects, as well as private sports facilities, where it has developed 43% of its buildings with “green” certification LEED BD+C (Leadership in Energy & Environmental Design).

DIMAND IS ONE OF THE LEADING GREEK COMPANIES IN THE FIELD OF REAL ESTATE DEVELOPMENT, WHICH IS LISTED ON THE ATHENS STOCK EXCHANGE this is how we participate in the modern history of cities, improving entire neighborhoods. We systematically invest in the reuse of buildings in the central parts of Greece and contribute to the renewal and economic revitalization of the local market.“ Through its investments, DIMAND wants to participate in the transformation of the entire West Entrance to Thessaloniki, transforming it into the door of the future. The company’s urban revival project aims to serve as a model for the development of the local society while highlighting the architectural and sustainable elements that will establish its projects as points of reference, visit, and value for the city and society. Respecting history, DIMAND’s

The company is among the leading group of “The Most Sustainable Companies in Greece”, receiving the highest awards for sustainable development from the Quality Net Foundation. At the same time, it was declared a LEED® Proven Provider™ by the Green Building Certification Institute. DIMAND actively participates in planning the green future of our planet, which is why since 2016 it has supported the American Green Building Council as a silver member. At the same time, it is a member of GRESB and the first company in Greece to be recognized as an Accredited Project Development Producer and an Accredited Provider of Quality Assurance to Investors (Investor Confidence Project - ICP) Europe.

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INTERVIEW

TOURISM - POTENTIAL AS A CATALYST FOR ALBANIA’S ECONOMIC GROWTH Republic of Albania has seen remarkable progress in its tourism sector in the past several years, positioning it as a pivotal driver for the country's economic growth in the foreseeable future. As per the 2023 data, Albania has welcomed 5.2 million visitors for the first seven months, thus significantly contributing to the nation's vital revenue, says Stela Dhami, Colliers Abania By: NEVENA JOVANOVIĆ

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Photo: COLLIERS ALBANIA

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he Albanian real estate market has become more interesting for investors as a tourist destination.

They invest both in the hotel industry, as well as in retail parks as “one-stop shop” concepts for customers. We talked about the Albanian real estate market and its potential with Stela Dhami, head of the Colliers Albania office.

How do you assess the real estate market in the entire region? Also, what regional trends can you see happening in Albania?

What are the sectors with the most investments right now?

STELLA DHAMI head of the Colliers Albania office

Melia Durres Albania

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— I appreciate the chance to express my thoughts to the Real Estate Magazine readers. The real estate sector is experiencing significant growth across all segments in the region, especially in industrial and logistics. There’s a notable reorientation of the office sector as a result of all the changes in ways of working due to Covid-19 and the introduction of comprehensive retail parks, such as one-stop shops, in markets like Albania. The logistics sector is witnessing notable growth, driven by the rise in online shopping during and after the COVID-19 pandemic.

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ing for diverse shopping and business opportunities, reshaping the dynamics of the real estate market.

Albania as an investment market is very interesting in the tourism sector, and you mentioned that the second home sector is especially expanding. How do you see the development of this trend?

— Over the recent years, Albania has seen remarkable progress in its tourism sector, positioning it as a pivotal driver for the country’s economic growth in the foreseeable future. As per the 2023 data, Albania has welcomed 7.2 million visitors, significantly contributing to the nation’s vital revenue. Drawing inspiration from neighboring regions, we are leverag-

TIRANA IS FURTHER SET TO WELCOME RADISSON COLLECTION, WITH EXISTING AND FUTURE PROJECTS PLANNED FOR THE IONIAN COAST 38

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ing our stunning coastline and beaches, complemented by Albanian hospitality, to bolster our tourism prospects. Presently, local developers are actively investing in and expanding their businesses within the hospitality sector.

Melia Durres Albania

Radisson Blu resort, Dhermi, photo by Radisson Hotel Group

Melia Durres Albania

Which international hotel chains are coming to invest in Albania?

—Albania currently hosts a number of prominent hotel chains, with several others in the planning stages for market entry. These chains typically collaborate with local developers to intro-

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TOURISM HOLDS IMMENSE POTENTIAL AS A CATALYST FOR ALBANIA’S ECONOMIC GROWTH duce their brand presence. This collaborative effort not only boosts the recognition of the “Albania” brand in the global tourism arena but also infuses valuable expertise into the market.

Spanish brands have shown keen interest in entering the Albanian market, with Melia leading the way by inaugurating its initial project along the Durres coastline. Melia is actively involved in developing multiple projects in Tirana, as well as the Northern and Southern coasts of Albania. Marriott, having recently established a presence in the heart of Tirana, has initiated a new venture on the Vlore coast, introducing a branded residences concept for the first time. Accor’s maiden project on the Ionian coast, namely MGallery, is already underway, with other projects slated for Tirana. Tirana is further set to welcome RadisOCT/NOV 2023

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concordinvestment.al

as well as upscale tourism destinations like Palase, Dhermi, and Drymades, are experiencing a surge in interest. Residential property prices in these regions have witnessed impressive year-on-year growth, ranging between 20-30%, with some upcoming projects reaching as high as 4,000 EUR/m2. Italy has shown substantial interest in Albanian tourism this year, contributing to a significant influx of Italian tourists, totaling up to 500,000. While Italian tourists have been notable, a significant portion of visitors still originates from the neighboring region, primarily Kosove and North Macedonia, alongside tourists from Central European countries, with Poland and the Czech Republic leading the way.

What are your expectations for the next period?

— In my view, tourism is poised to define our son Collection, with existing and future projects planned for the Ionian coast. The Southern coast is poised for enhanced accessibility through significant transportation initiatives, particularly the impending opening of Vlora Airport in 2024 and the tunnel linking Vlora more efficiently to the rest of the riviera. IHG has already secured an Intercontinental venture for Tirana, showcasing a notable investment trend aligning with the burgeoning tourism figures. Notably, this summer witnessed exceptional tourism numbers, not only along the coast but also in Tirana, emphasizing the tourism sector’s promising growth.

Can you tell us about the real estate rental price movement in Albania in the previous period and what are local real estate buyers doing?

— Albania continues to attract significant investment interest, notably in Tirana and the coastal regions. The demand for real estate in central Tirana is driving prices to remarkable levels, with apartments commanding rates of up to 3,500 EUR/m2, and exceptional units fetching even higher prices of up to 6,000 EUR/m2.

Coastal areas, particularly key cities along the Southern Riviera such as Vlora and Saranda,

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RESIDENTIAL PROPERTY PRICES IN THESE REGIONS HAVE WITNESSED IMPRESSIVE YEAR-ON-YEAR GROWTH, RANGING BETWEEN 20-30%, WITH SOME UPCOMING PROJECTS REACHING AS HIGH AS 4,000 EUR/m2 future path for the foreseeable future. As a nation and economy, it is our responsibility to manage this growth effectively, ensuring the well-being of both our environment and, crucially, our citizens. International organizations are advocating for vocational training, and I strongly believe this should be a central approach in guiding our students and youth.

Tourism holds immense potential as a catalyst for Albania’s economic growth. With the right expertise, we can prolong the tourism season and transform seasonal employees within the sector into permanent, contributing members of the workforce.

There are consecutive construction projects in the field of mixed-use buildings that are developing in the capital of Tirana adding highend listings to the market. These properties are bringing innovative food and beverage concepts to Tirana and the rest of the more developed coastal cities like Durres, Vlora and Saranda.

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DGNB presentation

SUSTAINABLE DEVELOPMENT

WORLD GREEN BUILDING WEEK 2023. in the light of new national regulations on green building By: DRAGANA KORICA AND VLADIMIR NEDELJKOVIĆ

orld Green Building Week – WGBW – is an annual event that takes place in September, oraganized by the World Green Building Council – WorldGBC, whose network is made up of over 75 national member green building councils. Throughout this week, a series of member and partner events and activities take place, in line with each year’s campaign theme. This is an occasion for exchanging knowledge and experience, contemplating systemic change and upcoming challenges, exchanging examples of good local practice, all with the goal of working towards a sustainable built environment.

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The world’s attention is aimed at issues related to climate change and the solutions to these, as well as economic and humanitarian crises. As the most responsible for contributing to carbon emissions related to energy (37% globally), the construction sector represents one of the key players in transitioning towards a decarbonized, sustainable and resilient society. This was reason enough for WorldGBC to select Building the Transition as this year’s WGBW campaign, paying special attention to three key areas: the energy transition, the regenerative transition and the just transition.

The energy transition demands a complete systemic change by accelerating the decrease in energy consumption, investing in clean technology and driving the economy towards these goals; before everything, it entails retrofitting the existing building stock to be energy efficient.

The regenerative transition means adopting regenerative principles in the built environment, as our planet’s resources are not infinite; instead of only protecting biodiversity, its

THE WORLD’S ATTENTION IS AIMED AT ISSUES RELATED TO CLIMATE CHANGE AND THE SOLUTIONS TO THESE, AS WELL AS ECONOMIC AND HUMANITARIAN CRISES

Speech of the Secretary A. Damnjanović

as well as the tools, systems, possibilities and projects that are in service of the green agenda and complementary to the new law. The end goal is to prepare everyone for the upcoming changes in the construction sector, so that they may adapt to them as optimally and easily as possible.

An event highlight were the statements from state secretary Aleksandra Damnjanović, who spoke on behalf of the Ministry of Construction, Transportation and Infrastructure, in place of the Minister, who was prevented from participating in the event at the last minute. Expressing her satisfaction that the Ministry could be a part of the Council’s WGBW event, the secrerestoration must be prioritized; nature-based solutions must be embraced, and a successful circular economy must be established across the entire building value chain.

The just transition is one where climate activities contribute to equal opportunities for all, so that those the least responsible for the degradation of our environment do not suffer the most consequences. The just transition requires a committed solidarity.

The Sebia Green Building Council, as a national member of WorldGBC, marked this year’s campaign with its 3 events, out of a total 79 global events visible on the WGBW Activity Map, with the support of its members, partners and friends, who joined in for this global campaign.

On 12 September, Serbia GBC held its “Transition in Service of the Green Agenda” event, at the Chamber of Commerce of Serbia, who have traditionally been the Council’s friend and host for this campaign’s events in years past.

In light of the national support for the transformation of the construction sector through the systemic integration of green building into the national legislation, this event’s program was dedicated to this very big step by the government in transitioning towards a sustainable built environment. This new law is a catalyst for building the transition in Serbia, and the purpose of the series of lectures at this hybrid event was to familiarize those present, both in person and online, with this new law, www.realestate-magazine.rs

THE ENERGY TRANSITION WAS COVERED THROUGH LECTURES ON DECARBONIZATION, ENERGY EFFICIENCY AND THE DIFFERENT SMART SYSTEMS AND TOOLS THAT HELP US ACHIEVE IT

Green Tour

tary stressed the importance that the Ministry sees in sustainable building, and in the fact that terms such as “green building” and “the green transition” are now, for the first time, contained within national legislation. While highlighting the significance she sees Serbia GBC’s role in this process, the state secretary announced the continued work on further elaborating the new law through relevant bylaws. She pointed out the new financial incentives envisioned by

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the new law, expressing her disagreement with the opinion of some that green building is expensive. She especially emphasized that green building should not be seen as an expense, but as a direct investment in the future.

After statements from the state secretary, a presentation of leading European and global green certification systems followed – LEED, BREEAM, DGNB. The benefits and importance of these systems, their standards, alignment with regulation and other characteristics relevant to all those who will

THE REGENERATIVE TRANSITION MEANS ADOPTING REGENERATIVE PRINCIPLES IN THE BUILT ENVIRONMENT, AS OUR PLANET’S RESOURCES ARE NOT INFINITE be obligated by the new law to certify their buildings were presented by representatives from REENG and NET ZERO – members of Serbia GBC, as well as the Council’s friends and partners from the German Sustainable Building Council – DGNB, who were present in Belgrade for this special occasion.

The rest of the event’s program

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touched all parts of the construction sector, divided thematically across the aforementioned three main topics. Apart from the new law, the section covering the just transition dealt with ESG and ESG verification. The energy transition was covered through lectures on decarbonization, energy efficiency and the different smart systems and tools that help us achieve it, while the topic of the regenerative transition highlighted the circular economy, its principles, the recycling of construction waste, and the presentation of Serbia GBC’s new publication, created for the Ministry of Economy and the Chamber of Commerce of Serbia: “The Roadmap for Reuse, Recycling or the Valorization of Construction Concrete Waste and Analysis of the Current State of Affairs in the Field of Concrete Waste Management”. After this public presentation, the publication was made available on Serbia GBC’s website. To close off the event, the Horizon Europe projects in which Serbia GBC is an active participant were presented, as they are also directly linked to the topics of the circular economy and sustainable built environment, in order to complete the day’s event.

Green Tour

Green Breakfast

On 14 September, as a continuation of its WGBW23 activities, Serbia GBC organized the 2023 Green Walk. The aim of Green Walks is to familiarize all those interested, both professionals and the general public, with cutting-edge green building systems and solutions present in the construction sector today. This is done not through presenting theoretical or single solutions, but rather through demonstrating their actual implementation and synergetic functioning on a real-world example of a green building.

Such events take place all over the world during World Green Building Week, organized by their local green

THE JUST TRANSITION IS ONE WHERE CLIMATE ACTIVITIES CONTRIBUTE TO EQUAL OPPORTUNITIES FOR ALL, SO THAT THOSE THE LEAST RESPONSIBLE FOR THE DEGRADATION OF OUR ENVIRONMENT DO NOT SUFFER THE MOST CONSEQUENCES

Green Breakfast

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building councils, and Serbia is by no means lagging in this trend of enabling the public to have direct interactions with green buildings.

This year, Serbia GBC’s Green Walk took place at Delta House, a LEED GOLD certified office building owned by Delta Real Estate, a member of Serbia GBC. The Walk had two time slots, both of which were completely booked – an encouraging indicator that green building, being the crucial topic that it is – truly is ever more present in the public consciousness.

Workshop: How we build tomorrow

SUCH EVENTS TAKE PLACE ALL OVER THE WORLD DURING WORLD GREEN BUILDING WEEK, ORGANIZED

BY THEIR LOCAL GREEN BUILDING COUNCILS, AND SERBIA IS BY NO MEANS LAGGING IN THIS TREND OF ENABLING THE PUBLIC TO HAVE DIRECT INTERACTIONS WITH GREEN BUILDINGS Green Walk 23 took visitors throughout all of Delta House – the ground floor and public areas, the garage and public green spaces, as well as a typical office floor and technical facilities that are usually inaccessible to the public, and even some employees. During the Walk, visitors learned about the specific systems and solutions applied, the way in which they work, why they’re cutting-edge, and how they positively impact both building functionality and end-users themselves. Specifically, the tour showcased the air quality and temperature

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regulation systems, the sensors that automate room management based on user needs and presence, the automated lighting systems, the solar panels and energy plant, the rain collection system which reuses rainwater as technical water, the slow and fast EV chargers, the waste management system, the materials used and how they were selected based on being recycled, the greenery, featuring carefully selected plant species, and other noteworthy elements which all make this building a leading example of green building.

The tour groups themselves, formed based on earlier signups, were truly diverse. Attendees were students, active and retired architectural and civil engineers, construction site workers, as well as those with no formal background in the construction sector or in green building, but are nevertheless interested in the subject and want to know more about it. Given the amount of questions that were asked and the discussions which arose during the Walk, it can safely be said that the tour more than achieved its goal.

On the same day, Serbia GBC also had its Green Breakfast; an informal gathering of council members which has by now grown into a council tradition. Members exchanged and discussed ideas, information, new concepts and potential partnerships, all while filming supporting this year’s WGBW campaign. This year, members had the chance to showcase the ways in which they’re building the transition, by highlighting the sustainable practices within their own businesses.

The end of World Green Building Week 2023. was marked on the 16th and 17th September with Ušće Eco Fest 23, organized by the Ušće Shopping Center, whose owner, Balkans Real Estate – MPC Properties, is also a member of Serbia GBC. The event, which took place at the Ušće Towers plaza, was a festival of ecological products and themes held with the aim of showcasing, promoting and discovering new ways in which our society can be healthier and more sustainable. The festival program was meant for all ages.

In the spirit of its mission to bring to topic of green building closer to everyone, even

the youngest members of society, Serbia GBC held an interactive workshop for children called “How We Build Tomorrow” at the festival. At this workshop, children were introduced to the basics of sustainability in a fun way. Through coloring, circling, drawing and answering questions, they learned elementary things about construction materials, building a house, the layers a house is made of, and sustainability.

They were then immediately able to apply their newly-minted knowledge in a creative, interactive way – by building models of sustainable houses, giving their own views of what sustainable building is. While assembling these modular sets, the young workshop participants were able to see firsthand how the layers of a wall work, what thermal insulation is, and how green roofs and renewable energy sources can be applied to make a house more sustainable. Even though the workshop’s timeslot had passed, the children were passionate about completing their houses, refusing to quit until every façade layer had been applied and until every solar panel had been set up. Proud of their creations, the children took home not only their new model houses, but new insights and interests in how the spaces we live in are constructed. They also brought their parents along for the ride, as they had been following along the whole time.

Viewed as a whole, this year’s WGBW campaign – “Building the Transition” – was exceptionally successful in its goal of creating a mulwww.realestate-magazine.rs

ti-level discourse on the vast changes that are rapidly taking center stage in the construction sector. Thanks to a wide spectrum of events and the diversity of their respective target audiences, the aforementioned discourse was started not only among decision-makers, but in both the professional community and general public.

The upcoming transition, introduced formally with new green building regulations, now in effect, raises many new questions regarding the future of Serbia’s built environment. The Serbia Green Building Council, as the organization named by relevant Ministries as being the umbrella organization for this topic, is an organization whose members are investors, architects and designers, manufacturers, contractors, property managers, real estate sector representatives, academics, and experts in the field. As such, it is in a unique position to offer a comprehensive, polyphonic answer to these questions. Serbia GBC’s work, both up to now and going forward, is to provide the answers to these very questions, for all those who need them. Serbia GBC is always open to new partnerships and members who wish to contribute to this important work and help move our society towards a sustainable built environment. You can follow Serbia GBC’s work on their website and on their social media channels - @SerbiaGBC. Workshop: How we build tomorrow

Source: Serbia GBC

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TRAVEL

TENERIFE, WHERE IT’S SPRING If you are not a fan of winter, snow, short days, long cold nights, and everything that this season usually brings , as a resident of continental Europe, you are probably nostalgically putting away your best summer outfits and fantasizing about the first warm days of the next year Author: VLADIMIR LUKIĆ

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Photo: ODEON WORLD TRAVEL

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topping winter and enjoying a few days of sunny tropical vegetation and ocean blue does not necessarily mean traveling to another continent. A warm and exciting destination that Odeon World Travel is taking you to during the upcoming winter is Europe! At least it belongs to it politically...

The island of Tenerife, the largest of the seven Canary Islands, is located in the Atlantic Ocean, approximately 100 km west of Morocco. It is definitely

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this geographical position that has given the entire archipelago a climate of eternal spring, with temperatures ranging from 18 to 26 degrees throughout the year. On an area somewhat larger than 2000 km², there is so much to see and experience. In addition to its interesting history, tropical flora and fauna, dramatic landscapes of the volcanic Mount Teide (the highest peak of Spain at 3718 m), excellent wines, and local cuisine, Tenerife is also an island whose beaches on the southern coast are enjoyed by visitors even during the

winter months, especially during the island’s carnivals, which begin in February. This is the ideal time to enjoy the colors, tastes, and smells of the Canaries. Santa Cruz de Tenerife is the cap-

TENERIFE IS AN ISLAND WHOSE BEACHES ON THE SOUTHERN COAST ARE ENJOYED BY VISITORS EVEN DURING THE WINTER MONTHS, ESPECIALLY IN THE TIME OF THE ISLAND’S CARNIVALS, WHICH BEGIN IN FEBRUARY www.realestate-magazine.rs

ital and the biggest city on the island, with just over 200,000 inhabitants. It is located on the northern coast and it is proud of its history of more than 2000 years, since the first settlements of today’s city. It was founded by the Guanchi, the indigenous people of the Canaries, who are believed to have settled the island in 1000 BC. The current name of the city comes from the Spanish conquistadors who landed on the island in the 15th century.

Today, Santa Cruz is a modern city with a developed tourist infrastructure.

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Along with the famous city beach Terisitas, for which the sand was brought by ship from Africa, during your stay in this picturesque city you should definitely visit the main city square Plaza de Espana, the Castle of San Cristobal, the concert venue Auditorium de Tenerife, whose futuristic shape was created by the famous Santiago Calatrava, the old city market Mercado de Nuestra Senora de Africa... You can take a break from walking in Santa Cruz in one of the tropical parks or in the famous pedestrian street Calle Castillo, where you can also go shopping... Playa de Las Americas is locat-

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ed in the south of the island, just 15 km from the southern airport (Tenerife Sur Airport). Its development began in the sixties of the past century, and since then, it has been one of the

AN INTERESTING FACT IS THAT MOST OF THE BEACHES ARE ACTUALLY FILLED WITH SAND THAT WAS BROUGHT FROM AFRICA, CONSIDERING THAT MAJORITY OF THE SAND ON THE ISLAND IS THE DARK SAND OF VOLCANIC ORIGIN

favorite destinations for Europeans.

Along with the neighboring areas of Costa Adeje and Los Cristianos, it represents the most famous and most visited tourist area of the Canary Islands. It counts numerous hotels, restaurants, bars, nightclubs, long esplanades, parks, shopping malls, and beaches that attract visitors even during the winter. It is an interesting fact that most of the beaches are actually filled with sand that was brought from Africa, considering that the majority of the sand on the island is the dark sand of volcanic origin. There are many ways to experi-

ence the flavors of the island during your stay on Tenerife. We suggest you spend one day in the south of the island, visiting the Finca Las Margaritas banana experience, where you will learn everything about the cultivation of this tropical fruit and have the opportunity to try dishes made from bananas, which are some-

THE VOLCANO AND THE MOUNT TEIDE ARE LOCATED IN THE CENTRAL PART OF THE ISLAND OF TENERIFE WHICH MAKES THE CLIMATE SIGNIFICANTLY AFFECTED www.realestate-magazine.rs

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how a specialty of the island.

As the island is also known for its good and acclaimed wines, your next stop on the south coast can be one of the most famous wineries on the island

LORO PARQUES PRESENTS NOT ONLY ONE OF THE LARGEST ZOOS IN THE WORLD BUT ALSO A SERIOUS INSTITUTION FOCUSED ON NATURE CONSERVATION PROJECTS, ENDANGERED ANIMAL SPECIES, REPRODUCTION OF THE RICHEST PARROT POPULATION IN THE WORLD, AND MANY OTHERS 54

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- Mencey de Chasna. During the wine tasting, do not miss out on trying some of the delicious specialties such as papas arrugadas, which is actually a special type of potato boiled in extremely salty water is served with mojo sauces based on olive oil and spices (mojo verde, mojo picon...). Loro Parque is one of the must-see attractions in the Canary Islands and we recommend it during your stay on the island of Tenerife. It is not only one of the largest zoos in the world but also a serious institution focused on nature conservation projects, endangered animal species, reproduction of the richest par-

rot population in the world, and many others. Loro Parque is home to many animals that live among tropical palm trees and exotic vegetation.

Numerous awards for consistent and diligent work in the sphere of animal protection (they are displayed inside the park) have earned this esteemed institution another title, the title of Animal Embassy (the first such park in the world to receive an ecological certificate). For all of these reasons, this park is one of the most visited zoos in the world. Its surface of 13.5 hectares provides an unforgettable experience, considering that it represents a true www.realestate-magazine.rs

THE ISLAND OF LA GOMERA IS KNOWN AS THE GARAJONAY NATIONAL PARK, A NATURAL PARK UNDER THE PROTECTION OF UNESCO kingdom of flora and fauna, which, in addition to dense tropical vegetation, winding rocky paths, incubators for baby parrots, boasts the largest aquariums with dolphins and penguins in the world. You can also see here: gorillas, capybaras, sloths, lions, Bengal tigers, red pandas, jaguars, flamingos, and various parrots, as well as watch performances by killer whales, sea liOCT/NOV 2023

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ons, dolphins, and parrots.

Teide National Park is the most visited national park in Europe. The volcano and Mount Teide are located in the central part of the island of Tenerife which significantly affects the climate. This active volcano was formed gradually. Today, Mount Teide is the highest peak in the Atlantic region, the highest peak in Spain, and the third highest volcano on Earth measured from the ocean floor, where it reaches a height of 7,500 meters. The last eruption occurred in 1909. There are 168 species of plants in the national park, most of which are endemic to these peaks, at 3,000 meters, only Teide violet survives. The very top can be reached

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by cable car, which is a special experience. During your stay on the island of Tenerife, it would be a shame not to visit the neighboring island of La Gomera. It is the third smallest island of the archipelago, about 20 km long from north to south. It belongs to the province of Santa Cruz de Tenerife and its capital is San Sebastian de la Gomera.

THE ISLAND IS ALSO KNOWN AS THE PORT WHERE CHRISTOPHER COLUMBUS LANDED BEFORE CROSSING THE ATLANTIC WITH HIS THREE SHIPS, STOPPING TO REPLENISH FOOD AND WATER SUPPLIES FOR HIS CREW

Santa Cruz de Tenerife is the capital and the biggest city on the island, with more than 200,000 inhabitants, located on the northern coast and it is proud of it’s history of over

2000 years

de Colon” where he stayed in the city of San Sebastián during their stays on the island is now a tourist attraction. One of the attractions is Roque de Agando, an impressive and steep formation of volcanic lava, Laguna Grande, which according to legend is the meeting place of ancient witches from the island... It is impossible to mention and describe in one text everything that makes the island of Tenerife special. Odeon World Travel invites you to join us on a trip during the upcoming winter and discover why Tenerife is often called the island of happiness!

The island is an ecological treasure, and its coast is dotted with small black sand beaches between the cliffs, makingit a true paradise for lovers of untouched nature. The inhabitants of the island of La Gomera have an ancient way of communicating with a whistle, a type of communication called Silbo Gomero, which can be heard up to 3 km away. The island of La Gomera is known for the Garajonay National Park, which is a natural park under the protection of Unesco. The island is also known as the port where Christopher Columbus landed before crossing the Atlantic with his three ships, stopping to replenish food and water supplies for his crew, so the house “Casa www.realestate-magazine.rs

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ARCHITECTURE

MAKEOVER OF THE ACADEMIC PART OF THE CITY OF NIŠ Niš is famous for its rich tradition in the electronics industry. After the fallout in the nineties and a period of crisis, this tradition needed to be rebuilt and reinvented he existence of the University of Niš, as well as the Faculty of Electronics in Niš, is a very important factor on which the new development of the innovative ecosystem in Niš was based. This development was spontaneous and intense during the second decade of the 21st century. However, to further improve that area and use its full potential, it was necessary to form institutional support for “start-up” companies, as well as for the further development of “spin-off” and development companies. This is how the idea of developing institutions that could provide such support came to be.

T

AFTER JUST TWO YEARS OF OPERATION THE SCIENTIFIC TECHNOLOGICAL PARK FILLED ITS EXISTING CAPACITIES. THE NEED FOR EXPANSION OF ITS CAPACITY HAS BEEN HERE FOR A WHILE, SO THE IMPLEMENTATION OF THE NEXT STEP OF THE CONSTRUCTION WILL BEGIN SOON

Facultat, Niš

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The first institution of this kind was a startup center at the Faculty of Electronic Engineering in Nis, which was established with the mission of providing support to student startup companies, in its initial phase of development.

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was followed by the construction MULTI-PURPOSE ELECTRONIC This of two important objects which share STRUCTURAL FIVE-STORY WING IN NIŠ, a similar purpose. The first is the SciTechnology Park Niš, that carries BUILT IN 2020. PRESENTS AN ADDITION ence out the development of the overall inecosystem in Niš and the enTO THE ALREADY EXISTING OBJECT OF THE novation tire region.

FACULTY OF ELECTRONIC ENGINEERING The second is the multi-purpose

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wing of the Faculty of Electronic Engineering in Niš which not only serves for education and scientific development purposes but also connects the economy with the academic milieu.

The multi-purpose electronic structural five-story wing in Niš, built in 2020. is an extension of the existing strucwww.realestate-magazine.rs

ture of the Faculty of Electronic Engineering. The wing in its basis is shaped in the form of the letter L and due to its position in relation to the original building, it forms a semi-atrium courtyard that is open to the southwest but can also be accessed from the northern passage.

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The physical connection between the extension and the already existing part of the building can be found in the southern part, directly in the zone of vertical communications, and in the north via the footbridge on the first floor. The architectural liaison between the old and the new was achieved through the formation and treatment of the wing’s volume. The new building is volumetric, fully compatible, and

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aligned with the old one, presenting its natural extension. With its modern facade, the new wing is clearly different from the existing building and gives the impression of a new building intended for research and innovation. The contrast of colors and rhythm, transparent and full on the façade, gives certain dynamics not just to the extension that was recently built, but also to the whole university complex.

WITH MODERN FACADE, THE WING IS EASY TO DIFFERENTIATE FROM THE EXISTING OBJECT AND SUGGESTS TO BE A MODERN FACILITY INTENDED FOR RESEARCH AND INNOVATION With regard to functionality, in addition to the entrance halls, vertical and horizontal communications, and accompanying sanitary and technical rooms, the ground floor also consists of classrooms, education rooms, and a space intended for a strategic partner. On the upper floors, we can find ‘open space’ rooms, a catering hall, offices and workspaces, laboratories www.realestate-magazine.rs

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and ‘start-up’ and ‘spin-off ’ spaces for companies, and large and small conference rooms. The quality of the completed expansion was recognized by the annual “Aleksej Brkić” award for the most successful work in the field of architecture in 2020, and the Grand Prize of the 43rd Salon of Architecture in Belgrade, of the Association of Ar-

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chitects of Serbia.

The Science Technology Park (NTP) is a complex architectural structure. It was built in 2020, and the main motive when designing the building was not only to express its character and purpose through its function and form, and the time in which it was created, but also to emphasize its impor-

tance as a future carrier of an innovative ecosystem. On the ground level of the building, there is a strong pedestrian diffusion - a passageway, which was introduced to maintain the existing pedestrian flow toward the student dormitory and restaurant and achieve visual contact with Aleksandar Medvedev Street with the mentioned faciliwww.realestate-magazine.rs

ties. The passage divides the ground level of the building into two parts. The northeastern part contains an entrance hall with apero-bar and sanitary facilities, a restaurant with a gallery, and a showroom across two levels. In the scope of the southwest unit, there is a cocktail bar as well as a conference hall with 180 seats and accompanyOCT/NOV 2023

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ing facilities (sanitary facilities, wardrobe, office, and translation booths in the gallery). On the first, second, and third floors, we can find work units of various sizes, from 20 m2 to 270 m2, as well as meeting rooms. In addition to the office units, these floors have also supporting facilities: sanitary facilities, kitchenettes, storage rooms, and technical rooms. Galleries are provided along each of the main vertical communications, through which zenithal NTP Niš

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lighting is introduced into the building. The basic volume of the object is defined as a dynamic, fluid form in the scope of the first, second, and third

THE BASIC VOLUME OF THE OBJECT IS DEFINED AS A DYNAMIC, FLUID FORM WITHIN THE DIMENSIONS OF THE FIRST, SECOND, AND THIRD FLOOR NTP NIŠ

floors. On the south side, not only for esthetic purposes but also to achieve additional sound protection and energy saving, this basic mass was treated as a double facade.

The dynamic character of the volume is additionally emphasized by bay windows on the northeast and southeast sides of the building, 9m and 6.5m long, as well as randomly distributed niches on the double facade. With its urban disposition, dynamic character

of the basic volume, and innovative technical and technological concept, the Science and Technology Park has become not only an innovative core but also a significant city mark of Niš.

It should be noted that the Science and Technology Park filled its existing capacities in just two years of operation.

The need for expansion of its capacity has existed for a long time, so the realization of the second phase of construction will soon begin..

AUTHORS OF THE TEXT: Slaviša Kondić, Milan Tanić, Vojislav Nikolić THE AUTHOR TEAM / MULTI-PURPOSE WING: Slaviša Kondić, Mirko Stanimirović, Milan Tanić, Vojislav Nikolić, Milan Brzaković, Miljana Ignjatović, Biserka Jovanović, Andrija Čolović, Marija Marinković, Nemanja Ranđelović i Marija Nikolić.

THE AUTHOR TEAM / NTP: Petar Mitković (1953-2021), Miomir Vasov, Slaviša Kondić, Milan Tanić, Ivan Kostić, Danica Stanković, Ljiljana Vasilevska i Vojislav Nikolić.

PHOTOGRAPHER: Miloš Martinović www.realestate-magazine.rs

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FURNITURE

SPACE THAT EXUDES LUXURY Furniture, lighting, and decor of a specific design are the basis of every story, pushing boundaries and introducing us to the sphere of atypical furnishing. The furnishing, which carries in itself a dash of luxury, is unusual and a bit "altered". Attention to detail, quality of materials, and quality are also necessary supporting elements, all in order to perform the creative challenge that the designer has to deal with fined. The question is how to equip it in an original, buy at the same time functional way.

Our answer is that a well-kept hallway, decorated in the right way, can have the wow! effect you desire for your living or working space.

We suggest a ‘well-packed’ closet, which gives the illusion of a part of the wall, quality coverings, and of course - decor. The absolute success will be an attractive mirror in a frame that gives the impression of a work of art, a stool in a soft material and if you leave a visible coat rack, the suggestion is one of the pieces in the form of a sculpture, depending on the design of the space. If there is an adequate place, you can place a table decor, floor or table lamps, a smaller decorative table, and maybe even a small armchair.

Author: VERA NIKOLIĆ Photo: KARE SRBIJA

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f course, we should not forget functionality. Above all, it is important that we feel good in our space. KARE Design found the solution by choosing high-quality materials and craftsmanship, which are reflected in the production of pieces that are used every day. There are some guidelines for all those who want to embark on this adventure of furnishing interiors that exude luxury.

Let’s start with the entrance – it is the first impression of someone’s home, often unde-

O

The path further leads us to the living room. It is the most common place to which designers devote themselves, and for good reason. Luxury has a different meaning for each of us, but when furnishing a luxurious interior, it is first necessary to create an impression of opulence. Luxurious textures are a great way to achieve this. KARE pieces are covered with leather or a metal layer, with inlays, from which the shades of mother-of-pearl, interesting crafted reliefs, in solid wood, as well as the va-

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riety of processing, are interspersed.

As far as the living area is concerned, it is multifunctional in modern homes, because in addition to the daily life of the household, visitors will often also be hosted there. The sofa, as the largest piece in the space, possesses the imperative of comfort, but it must also meet the user’s esthetic criteria. The advice is not to make it the only option for sitting, but to surround it with armchairs and stools, or if there is space to create an additional corner for socializing or

privacy. Something like a mini salon.

A club table is an important item, because of the number of items should carry. Some time ago, KARE introduced a small revolution in the functionality of the central table - the Franklin club table that rotates. There are 2 panels that rotate so that they fit under each other and thus take up little space, while unfolded they can occupy any angle and gain double their width.

Do not forget good lighting. Do not stop only at the ceiling or wall lighting, no matter how well-designed. If it is a space with high ceilings, especially inspiring, it is always good to make additional layers of lighting and include floor and table lamps in the game.

The living area of the house, where gatherings are often organized, requires a bar or cabinet for drinks. The Zoom bar cabinet is decorated with a motherof-pearl inlay and represents a unique decor in the space. The perfect treatment of bar cabinets is something we are very proud of. There is also space for your favorite drinks, as well as quality glasses and even cigars. If you are a fan of this special section of the space, OCT/NOV 2023

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KARE has dedicated a special collection to that type of love called Cigar Lounge.

In modern apartments, it is common to connect the living room and dining room into one, homogeneous space.

If there is sufficient space, we recommend a table that is as large as possible. If this is, however, not the case, we have a solution for that as well - a table

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that unfolds with very light movements, all thanks to excellent mechanisms.

What you must never forget is that the dining table should have adequate lighting. If it is of larger dimensions, we advise the option of a luxurious chandelier of larger dimensions or two smaller ones, but it is important that they are well integrated with the table and chairs.

Table legs are of great importance for achieving an attractive look. If the whole table can be seen, then it is essential how it looks in the composition with the chairs and the chandelier. KARE offers tables with legs that are located in the central part of the table, without interfering with its adequate use from all sides, yet they are

imposing and deco enough to attract attention and round off the entire dining room.

A small tip is not to leave the table undecorated, but not to overdo it. A luxurious table should be seen as much as possible and should attract attention.

A big difference will be made by an interesting vase with gorgeous flowers, a bowl with some decor, or some other type of decoration in the middle of the table (candleholder, etc.).

Similar advice applies to the club table, which is best decorated with books, low bowls, and elegant packaging of board games.

When it comes to the bedroom, that space is the easiest to personalize. As far as functionality is concerned, if the wardrobe is in the bedroom, of course, it should be perfectly integrated into the space. If there is a possibility, it would be ideal to add to the story a chaise longue or stools of larger dimensions in the center, with a luxurious chandelier above. This setting elwww.realestate-magazine.rs

evates the classic wardrobe to the level of a luxury boutique or professional wardrobe. The make-up corner should not be forgotten.

The focus of the bedroom should of course be on the bed and nightstands.

As for larger pieces of furniture, when covered with mirrors they appear smaller than they really are. Regarding luxu-

rious interiors, mirrors on bedside tables reflect the surrounding textures and materials, making the area around the bed perfectly blend into the overall theme of the room. Good lighting is crucial, so we suggest a combination of built-in lighting, table, and floor lamps.

Do not overdo it with small decorations in the bedroom. We always advise

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having several larger pieces, in good positions, especially on the walls. Good pictures will fill the walls and make the view more interesting. A striking carpet partially under the bed or in the wardrobe will also provide the desired attractiveness. Do not forget decorative pillows and bed covers.

Finally, we come to the home office, which most luxury apartments usually have. Here the focus is on a good table, often made of solid wood, but as

personal tastes differ we also have examples where metal and glass are preferred over wood. The desk should be large enough and comfortable for work, with one good piece of decoration and an effective table lamp on its surface. Choose a high-quality office chair in accordance with the concept of the space.

An essential item in this room is a bookshelf. This is the element that will carry most of the decoration, and

Galens invest uređenje radnog prostora Minel

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it should be designed so that there is also some table lamp and greenery on it. If there is space for a chest of drawers, then plan a striking picture above it and organize the space so that the chest of drawers supports the desk.

Where the space allows for an armchair, the advice is to choose a model that can also be used for resting, longer reading, and with head and leg support. A good example is the Toldeo armchair.

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