REBEC 2025: How to develop a successful housing project in SE Europe? – Advice from experienced investors

How investors, or developers of large housing projects, see the challenges and risks of investing in the real estate sector in the region, was discussed at the recently held REBEC 2025 conference by representatives of companies that are changing the landscape of Belgrade when it comes to housing construction.

At the panel on key aspects of the development of housing construction in the Southeast European region, one of the speakers was Tomas Klima, CEO of the Czech company Sebre, which has implemented the Puskinova complex in the Serbian capital, while the implementation of the Marina Dorcol project is underway.

Klima emphasized that his company, which is registered in Belgrade, provides services in the development of the entire process in the real estate sector - from land purchase, to obtaining permits, construction, sales and post-sales activities.

– We employ a professional team to cover all phases, and our philosophy is not to work quickly and superficially. Many people ridiculed us at first, saying that we spend too much time and money, but the end result always justifies us – said Tomas.

He revealed a part of his company’s successful business strategy:

– First of all, we pay attention to everything, down to the last detail. Our focus is on functionality and longevity, not just aesthetics. Then, we always choose interesting and specific locations, because the project must make sense for the environment, it must not be “imposed.” And third, our customers must have a sense of ownership, that it is not just an apartment, but a space in which they want to live. That emotional relationship with the property is crucial. In the project in Marina, for example, we transformed the location into a completely new urban space, thus breathing life into a part of the city that was previously “dead.” The city of Belgrade also contributes to this to a large extent, by transforming the former railway line into the Linear Park, thus removing a large barrier between the Danube coast and the city center.

Klima, speaking about the project in Puskinova Street, pointed out that, when they had completed the first building and offered it for rent, most of the tenants later expressed a desire to buy the apartments.

– It is an expensive building and, at first, we rented the apartments because the market was not ready to pay the asking price. However, the tenants became convinced of the quality through experience and started buying them. The price even increased later on – said Klima.

Another panelist, Tim-Martin Weber, General Manager of the Swiss company Appenzeller Huus, which is engaged in Belgrade on the Kraljeve cesme residential complex, stated that in Serbia they employed a small but efficient team made up of people from Belgrade and Switzerland.

– Our approach is specific because we do not offer franchises or leases, everything is independently managed. We want to bring Swiss charm to Belgrade, but with respect for the local culture. We create a community, not a closed complex, and everything is designed to last for generations – Weber revealed his formula for success in this industry.

He also highlighted what was most important for his company when developing residential projects:

– First, uniqueness. We do not want copies, each of our projects is authentic. Immediately after that is community. Our goal is to form a real community, not just a complex of luxury real estate. Finally, the culture and tradition of the region are also very important to us. Through the project, we convey local values in combination with Swiss standards, with a long-term approach, because we do not design for resale, but for permanent ownership. Our focus is on experience, not on mass production.

Predrag Petrovic, Marketing Director of Kadena Properties, a company that develops construction projects, also introduced himself to the audience as part of this panel.

– Our company offers a complete service, the so-called one-stop-shop, which means that we can take over the entire process: from purchasing land, through obtaining permits, designing, building and marketing, to selling. In addition, we have developed our own technology, CRM system and automated sales platforms. This significantly shortens the process from generating interest to closing the sale. Our internal team of developers does everything in-house – said Petrovic.

When asked what the biggest obstacles they faced in developing projects were, Petrovic replied that the main challenge was in marketing.

– It’s very difficult to stand out, to be visible. There are many projects, many campaigns. You need really creative people just to be visible, to be “the tallest tree in the forest” – he said, adding that a lot of technology was used for that.

– We use artificial intelligence (AI), we create a lot of content with it. This is content that is very personalized and such content and such communication actually make one project stand out from the others. That’s why we hire a lot of experts in that field and use a lot of different applications. A few years ago, you would have to hire actors and the entire production. Now you can do it in a few minutes. That’s why it’s very important for us to develop skills in working with AI, so that we can hire even more people. AI is an important part of everyday life in this industry, globally. Our task is to learn about it, to follow the development of technology. We have to stay up to date. We use all Meta channels, but also other digital channels – explained Petrovic.

According to Tomas Klima, the main and first obstacle that the Sebre company encounters is the harmonization of innovative ideas with the local legislation and norms.

– Often, the regulations are archaic and inflexible. The second is a quality workforce. Sometimes workers from Pakistan or India are hired on construction sites in Serbia, but due to the difference in craft traditions, it is difficult to explain to them what we want. The lack of trained craftsmen is a big challenge in this market – said Klima, adding that the role of the architect in the development of residential complexes was no less important. – It is important for the architect to be flexible and understand what is possible and what is not. A talented architect will say: “Oh, interesting, I can work with that. I will give you a proposal next week.”

Klima reiterated Sebre’s focus on detail, saying that often, when a project is completed, he has the desire to improve it further:

– If we see that something is missing or not fully completed, even if the accounts are closed, but we still feel that it needs to be done, we do it. This is not typical for this market, because it represents an additional cost. But you have to do the project perfectly so that you can demonstrate its value and the company’s value.

Weber agreed, saying that they have a similar approach to residential development:

– When we negotiate a deal and establish a partnership, everything has to be perfect. We had challenges at the very beginning, when consultants, architects and designers came to us from Switzerland, bringing us plans and helping with the initial concept, but later it turned out that they were not competitive here. We do not want to be just contractors, so we brought in local building planners and experts, as well as local suppliers and craftsmen. We even imported tiles from China to satisfy certain target groups. We also invested to increase the value of the square footage. We learned a lot from our mistakes and from the experiences of previous years.

– We don’t build projects just for foreigners, we want to be part of the community and respect its needs – said Weber.

B. P.

Festlent d.o.o. Beograd

Kadena properties doo Beograd

SEBRE d.o.o. Beograd

REBEC 2025

Appenzeller Huus

Pregrag Petrović

Tomas Klima

Tim Martin Weber

Puškinova complex

Kraljeve česme complex

Victory Gardens complex

Marina Dorćol complex

housing construction development

experiences of investors in housing construction in SE Europe