The industrial real estate market in Serbia is experiencing strong growth, with demand for manufacturing and logistics facilities steadily increasing. New industrial zone capacities are largely pre-leased or reserved, according to market analysts.
Key drivers include the rise of e-commerce, growth of domestic production, and relocation of foreign companies closer to European markets. Serbia’s favorable geographic location and competitive operating costs make it an attractive investment destination for logistics, manufacturing, and distribution sectors.
Radoš Gazdić, director of the Serbian Development Agency (RAS), highlights Serbia’s multiple advantages: strategic location, investments in transport and utilities infrastructure, skilled workforce, free trade agreements, and access to a market of 2.7 billion consumers. These factors have attracted many large companies to operate in Serbia.
Investor interest is highest for warehouse and production facilities ranging from 500 to 50,000 square meters, especially in infrastructure-ready sites. “Brownfield” locations—abandoned industrial properties revitalized with local and state support—are particularly appealing, as they solve spatial and environmental issues while attracting new investments.
Development is expanding beyond major cities like Belgrade, Novi Sad, and Niš, into smaller towns such as Šabac, Smederevo, and Subotica. Local governments actively build industrial halls to reduce risks for investors and speed up new company arrivals.
Gazdić stresses the importance of quality infrastructure, including stable electricity, water supply, sewage, and good road and rail connections. The availability of green energy is increasingly significant, especially for high-tech sector investors.
All construction models are present on the market, from turnkey projects to build-to-suit or lease options tailored to tenants’ specific needs—popular among companies planning long-term stays. Serbia is also developing eco-industrial parks in cities like Loznica, Novi Sad, Smederevo, Niš, Ćuprija, and Inđija, with Inđija preparing a zone for advanced technologies. Private initiatives like MIND Park in Kragujevac and a chemical park in Prahovo are developing in parallel.
The growth of industrial zones depends heavily on local government activity, with investor profiles often aligning with local resources—agricultural regions attract food processing, while university cities draw high-tech industries, Gazdić concludes.
