After a strong first half of the year, supported by higher inward investment and lower import costs, Serbia’s GDP growth is expected to reach 0.5 percent this year, according to a new JLL report.
The sale of state-owned enterprises have been fast-tracked in an effort to reduce public debt and cut the volume of subsidies.
During the third quarter, the first phase of GTC’s class A office project, Fortyone, was delivered to the Belgrade market. This underscores a rise in construction activity in Serbia, where there are several other projects underway or announced.
The retail market has also shown greater activity, with Aviv Park Zvezdara set to open in November. Extra Center also recently opened at the former IDEA hypermarket location in New Belgrade. In addition, Ikea started construction at Bubanj Potok, the Rajiceva shopping center is scheduled for completion in 2017 and Delta Real Estate and Plaza Centers both announced they would be building new shopping centers.
