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Construction activity slows as public projects reach a transitional phase

Construction emerged as one of the weakest sectors in Serbia’s 2025 economy, reflecting the completion of several large infrastructure projects and delays in initiating...

Construction and agriculture continue to weigh on growth despite broader recovery

Within the National Bank of Serbia’s assessment of the 2026 outlook, construction and agriculture are identified as the two sectors most likely to lag...

Construction’s quiet collapse: Why 2025’s weakness matters far more than it appears

Construction rarely attracts attention when economies slow gradually rather than collapse. It does not generate dramatic headlines, and its decline often looks technical rather...

Construction and real estate maintain momentum despite tighter financing conditions

Despite higher interest rates and more cautious bank lending, construction and real-estate activity in Belgrade and other urban centres continues to show resilience. Large...

Construction and infrastructure in Serbia in 2025: Revenues held, margins tightened and risk shifted to contracts

Construction and infrastructure in Serbia delivered stable top-line performance in 2025, but financial results across both foreign-owned and domestic companies confirmed that the sector...

Construction materials and industrial building inputs in Serbia in 2025: Energy-heavy economics, regional demand and the capital challenge of green industrial compliance

In 2025 Serbia’s construction materials sector, broadly defined to include cement, stone products, prefabricated elements, steel construction inputs, insulation, glass and related industrial materials,...

Construction slowdown: Early warning or temporary pause for Serbia’s real economy?

Construction is one of the most visible indicators of economic health. When cranes fill skylines, optimism follows. When statistics show slowdown, concern rises. Serbia’s...

Who dominates Serbia’s commercial real estate, financing and construction landscape

Serbia’s commercial real estate market has matured significantly over the past decade. What was once a fragmented space with domestic developers dabbling in retail...

Construction materials producers sustain output despite slower domestic projects

Producers of cement, insulation, aggregates, and construction materials continue to operate at stable output levels, even as domestic construction activity shows signs of slowing....

Construction slowdown in Belgrade and Novi Sad: Investors pull back as costs rise

Serbia’s construction sector, long celebrated as one of the key drivers of the country’s growth narrative, is now showing signs of a pronounced slowdown....

Serbia real estate & construction outlook 2025–2035

Serbia’s real estate and construction sector is entering a profound structural transition. Over the next decade, the shape of Serbian cities, the geography of...

Serbia’s construction titans: Who builds the country—and why they keep winning

Serbia’s construction industry has undergone a dramatic transformation over the past two decades, shifting from a relatively modest domestic market to one of the...

Serbia issues 2,542 building permits in August 2025, slight decline from last year

In August 2025, a total of 2,542 building permits were issued in Serbia, representing a 1.4 percent decrease compared to the same period last...

When ESG gaps stop the money: The Owner’s Engineer’s role in industrial projects

In industrial construction today, an ESG non-conformity can hold a loan tranche as effectively as a failed transformer test. Lenders and investors now expect...
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