108 REAL ESTATE expands further into the Balkans: new office for Slovenia, Serbia and Croatia
After recently opening offices in India and Romania, the Czech real estate consultancy 108 REAL ESTATE is expanding into the south-eastern part of Europe - the Adriatic. Since September, a new office has been operating in Zagreb, covering the real estate markets of Croatia, Serbia and Slovenia. Despite the territorial differences, the entire region is united by the growing interest of developers and tenants - especially in the field of industrial real estate. For example, the supply of modern warehouses and production space in prospective Serbia amounts to just 1.3 million sqm, which is less than new office space.
The market is even shallower in Croatia and also in Slovenia. Yet both countries can benefit significantly in the future from the presence of equipped ports, becoming a gateway to Europe for many importers and exporters alike. Logisticians in Croatia, which has some of the best motorways and roads in the world, should be helped by a new, digitised toll system. It is due to be launched in 2026 and the government hopes to make traffic smoother even in the busy summer months. Slovenia's Koper is already used for the Czech Republic's international trade, including the capacity of ČD Cargo.
108 REAL ESTATE's expansion into the Balkans is related to the growing interest of its clients in Southeast Europe.
"In recent years, the Balkan market has increasingly attracted the attention of Czech and Slovak development groups such as Accolade, Atrios, Logexpert, Sympatia, Besico, BHM and RC Europe, as well as international companies based in the Czech Republic such as VGP and CTP. These players have a significant impact on the development of the region. In all three new destinations, we want to offer them the same quality services they are used to from us in the Czech Republic and in other countries where we are already present," says Jakub Holec, Director of 108 REAL ESTATE.
The offer of its subsidiary in the Adriatic will include land development, investment consulting and full service related to the leasing of premium industrial properties. However, the team is also ready to provide excellent services in other real estate segments - office and retail properties.
The management of the newly established 108 REAL ESTATE ADVISORY ADRIA has been entrusted to Dario Tomljenović. For the last seven years he has been associated with IWG, a global operator of serviced shared office space Regus and Spaces. For the last three years, as Business Development Manager, he has been responsible for the development of this network in Croatia, Serbia, Slovenia, North Macedonia, Albania and Montenegro.
The 108 REAL ESTATE team believes that entering the previously underserved markets of Serbia, Croatia and Slovenia represents a unique opportunity. Although all three countries have different economic dynamics and performance and different economic structures, they offer a number of specificities for developers and tenants. And with a population of nearly 12 million people, whose purchasing power is gradually increasing, together they form an attractive environment.
That's why Czech developers are also active here, behind several planned logistics centres focused primarily on retail. The planned or upcoming activities are not only related to local demand, but also to exports. In the case of Serbia, long considered the industrial heartland of the former Yugoslavia, the focus on manufacturing, engineering or food processing remains.
"It is the largest agricultural market in the Western Balkans. Its main industrial exports are automotive parts, non-ferrous metals, furniture, food products, machinery, sugar, tyres or clothing,"
says Dario Tomljenović, who gives a profile of the country.
The most important industries in Croatia are food, beverages and tobacco, followed by chemicals and oil. In Slovenia, the automotive, consumer electronics and pharmaceutical industries are the main drivers of its diversified, progressive economy.
"In all three countries, however, the supply of modern industrial space does not match the potential. We expect a major upturn in the whole sector," concludes Jakub Holec.