Construction Industry
- International and long-established tradition of large, distinguished, and high quality construction standards and quality
- One of the most dynamic, driving forces influencing Serbia's economic growth
- The value of completed international projects has increased in 2007 to $142 million
- Many significant and successful Serbian construction projects can be seen throughout the world-from Europe, Africa, America, all the way to Asia
- The Yugoslavian construction industry was ranked tenth in the world
- Great potential and growing foreign investor presence
Continuous Growth The construction industry has shown continuing growth in the past few years, especially in Serbia's three largest cities: Belgrade, Novi Sad and Nis. Valued by the amount of projects completed recorded 9.5% increase in 2008 compared to 2007. In 2007, most completed projects included transportation infrastructure (34%), commercial space (26%) and residential space (24%).
Worldwide Experience The value of international agreements in 2006 amounted to $184 million, with a growth of 8.6% in 2007 and total value of $200 million. The value of completed projects in 2006 was $115 million and $143 million in 2007, with the most being in the Russian Federation, Kazakhstan, Montenegro, Peru, Algeria, and Morocco. Compared to the first quarter of 2008, the value of completed foreign projects in the first quarter of 2009 is 21.3% higher.
Capital Project Capital investments are increasing and Belgrade is a place that continues to attract foreign investors. The Ministry of Infrastructure announced a housing project worth approximately €1million in the capital, which will encompass building twenty thousand apartments. During 2009 and 2010 it is expected for this project to employ the whole construction industry that also brings together other branches.
Wide Business Range Over 3,800 businesses and over 85,000 workers are employed in the construction industry, from which the most work within housing, installation and producing materials.
Local Strength The "Belleville" complex in New Belgrade, where participants of "Universiade 2009" stayed, was one of the largest construction projects in south-eastern Europe. During the construction of this commercial and residential space, amounting to 190,000 m2, over 2,000 workers from 20 different companies participated, out of which 19 were Serbian.
Capital Housing Project Capital investments are increasing and Belgrade is a place that continues to attract foreign investors. The Ministry of Infrastructure announced a housing project worth approximately €1million in the capital, which will encompass building twenty thousand apartments. During 2009 and 2010 it is expected for this project to employ the whole construction industry that also brings together other branches.
Project - Corridor X In 2009 the Republic of Serbia received $33 million loan from the World Bank to speed up the work on the southern part of Corridor 10, from Nis to Dimitrovgrad. The tender is planned for June, so that the construction could begin in the fall. In addition, €20 million have been allocated in the Republic of Serbia's budget for Horgos-Novi Sad partition. Furthermore, €10, 472 million are planned to be invested through 2009 for the construction of roads on this Corridor.
Friendly Legislatives The proposed law concerning the organization of space and construction will allow investors to obtain the necessary licenses in only a few months. With this new law, a general design for a project will no longer be needed, while a construction permit will be obtained based on the main project and location permit.
