Construction in Serbia up by 13% last year

Belgrade Waterfront Construction Project
Belgrade Waterfront Construction Project

Belgrade, Serbia | 13 Feb 2019 – Construction activity has grown by 13% during the last year in Serbia when compared to 2017, says official statistic body RZS.

According to the national office for statistics in Serbia RZS, during the fourth quarter of 2018, the value of construction works performed in the country grew by 8.7% in current prices and by 3 pct in constant prices compared to the same period of the previous year.

In Q4 2018, the value of the works performed rose considerably in the Vojvodina region (20.1 pct) and in the Belgrade region (1.9 pct) in constant prices, and the construction activity was at approximately the same level in the regions of southern and eastern Serbia as in Q4 2017,” the RZS office said in a statement.

A 10.7 pct decline in constant prices was also recorded in Sumadija and western Serbia.

The territory of Serbia accounts for 96.8 pct of the total works performed in Q4 2018, with foreign construction sites making up the remaining 3.2 pct, the office said.

Serbia has moved up in the World Bank’s Global Doing Business ranking during the past 2 years, coming in 43rd out of 190 ranked countries, thanks to its improved reliability of the land administration systems by implementing a geographic information system.

Recent changes to Serbia’s Planning and Construction Act made dealing with building permits faster. The so-called “integrated procedure” for obtaining all necessary documentation for construction, electronically, on a “one stop shop” basis was created. This procedure encompasses all actions in the construction process, from determination of adequate location conditions, through the issuance of the building and use permits, up to the registration of ownership of a newly constructed facility in the Real Estate Cadaster.

Currently, the biggest construction project in Serbia is the Belgrade Waterfront project: A EUR 3.5 billion residential and business complex in Belgrade. The project is being conducted by the Republic of Serbia and an investor from the United Arab Emirates.

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