Consulting on investing in the construction or purchase of real estate, renting out apartments, office space, warehouses or premises, technical maintenance of buildings, and consulting on various financial arrangements related to real estate – all this is the job of companies whose main activity is Real Estate Management for a fee.
In Serbia, 530 companies and entrepreneurs were registered for this activity, whose total income at the end of 2021 amounted to 11.5 billion dinars.
According to the data provided to us by the credit rating company CompanyWall, in 2021 the revenues of companies from this activity exceeded those of the previous two years by about two billion dinars , and further growth is certainly expected, given the trends in the domestic real estate market, which are reflected in offers and prices of square meters are increasing.
The list of the 20 most successful is led by Merin Asset Management, a member of the Merin Group and an entity responsible not only for real estate management, but also for project development, from finding suitable locations for construction to selling or leasing real estate, and provides such services to other entities within the group. – to the company Merin Investment.
The Merin Group is, by the way, apart from its residential projects, such as Merin Plaza in the Belgrade municipality of Vračar or Sun City in New Belgrade, also known for its retail park Big Fashion Outlet in Inđija, as well as for its Cash&Carry Supermarkets, which are located in six cities throughout Serbia, which are used by Roda Supermarkets through leasing.
Merin Asset Management, according to CompanyWall data, ended 2021 with a profit of 247.4 million dinars, which is about 30 million dinars better than the company Uzor Promet from Novi Sad. Unknown to the general public, this company is owned by Zoran and Bojan Matijević, sons of the founder of Mesna industrija Matijević , Petar Matijević , which has grown into a conglomerate of companies engaged in various businesses, including construction and real estate management.
Among its projects, Uzor Promet includes the construction of residential and commercial buildings in Novi Sad and Belgrade, including three lamellas of over 10,000 square meters in Patrijarh Pavla Boulevard in Novi Sad and a 12,000 square meter residential and commercial building in Vojvođanska Street in New Belgrade. Uzor Promet is not the only company related to the Matijevićs that is on our list of the most successful – in 13th place out of 20 is “Bazaar” doo from Novi Sad, which manages the shopping center of the same name .
The third place in our table is occupied by a company whose current name – Fikole doo – is not known to the general public, but almost everyone would recognize it by its “old” name – Verano doo . Verano is best known for buying the property of the former Yugoslav giant “Department Stores Belgrade”, and Fikole made a profit of slightly more than 180 million dinars in 2021.
The company that placed fourth in terms of profit in Real Estate Management for a fee in 2021 has a well-known name, but in the Serbian language. Confluence means Ušće, and Confluence Property Management, among others, manages one of the most famous properties in Belgrade – the Shopping Center “Ušće” as well as its twin sister, the office building “Ušće 2” .
Confluence ended 2021 with a profit of 114.5 million dinars, and by the way it employs the most workers among the top 20 companies in this industry – a total of 115.
Among the most successful according to the results from 2021 is CBS Facility Services, a company owned by CBS International. CBS International is, again, part of the Cushman&Wakefield Alliance , one of the leading real estate companies on a global level. Their portfolio for sale or lease includes apartments, office space, warehouses and construction land.
In an interview with Business Intelligence Review, the director of CBS for Serbia, Goran Živković, pointed out the relative underdevelopment of the domestic market for products and services related to real estate.
“Cushman & Wakefield” manages millions of square meters of office buildings, hotels, large logistics and industrial facilities, shopping centers and retail parks on the Czech real estate market, which has been developing with serious dynamics since the mid-nineties. The owners of these facilities entrusted the complete management to our company. On the other hand, in Belgrade, most of the buildings are still owned by the companies that built them, they also manage them and only hire houses like ours for certain segments of services, such as maintenance or renting.. It is to be expected that, when these facilities are traded and when large investment houses are also owners, the segment of management services for these facilities will develop in a more serious way,” said Živković in the year when CBS Facility Services achieved a profit of close to 33 million dinars.