Expo Village Deal: 234.6 Million to a Firm Three Months Old

The contract for accommodation operator services at Expo Village is worth 234,645,045 dinars before VAT (about 2 million euros), or 281,574,054 dinars with tax (about 2.4 million euros). It was awarded by Ekspo 2027 d.o.o. Beograd and won by a bidding group made up of Aurion Service d.o.o. Beograd and Delta Hospitality.

The tender was published on July 4, 2026, and according to available records it drew a single bid, the one from the group that ultimately won. Aurion Service was entered into the business registry on May 5, 2026, two months before the tender was even published. The company’s director is listed as Masa Lisac Naunovic, and its core business is reservation services.

Ownership Chain Leads to Delta Real Estate

Aurion Service is wholly owned by Profileon plus d.o.o., a Belgrade company registered in December 2014 that deals in renting and managing its own or leased real estate. Profileon’s director is Andrej Sovrovic, and the firm’s sole owner is Delta Real Estate, a company belonging to Miroslav Miskovic.

The second member of the bidding group, Delta Hospitality, runs the Crowne Plaza hotel in Belgrade and is registered for hotels and similar accommodation. It is owned by Fenix Developments, a business management company whose director is Nikola Jevdjevic, and Fenix is likewise controlled by Delta Real Estate. Both members of the bidding group, in other words, trace back to the same ownership group.

What the Contract Covers

The job is the operational running of a complex of 1,500 accommodation units, intended for official and unofficial exhibition participants. The operator takes on:

• reservation management, processing accommodation requests, unit allocation, guest check-in and check-out, and front desk operations
• financial and administrative work, invoicing, payment tracking, and financial reporting
• staffing, technical equipment, and software solutions and licenses

Danilo Jerinic, director of Ekspo 2027 Beograd, explained the contract in a statement:

Timely preparation of all supporting systems is just as important as building the infrastructure itself. Expo Village will be home to thousands of participants from around the world, and that is why we want to secure, from day one, a professional, efficient and reliable accommodation service that meets the standards of a major international event. With this contract we continue building the operational capacity needed for the successful organization of the Specialized Exhibition Expo 2027 Belgrade, and we are creating the conditions for every participant and guest to have a quality experience during their stay in our country.

Expo Village is housing for delegations and guests, which means the operator, not the construction contractor, is the one accountable for hosting thousands of people over a three-month period.

How Much per Unit?

Divided across 1,500 units, the contract works out to 156,430 dinars per unit before VAT (about 1,337 euros), or 187,716 dinars with tax (about 1,604 euros). The exhibition runs for 93 days, from May 15 to August 15, 2027, which puts the figure at about 1,682 dinars per unit per day before tax, with the caveat that the operator’s work begins before the opening and is not confined to the days the exhibition runs.

Organizers have announced participation from 143 international participants and more than four million visits. We reported on the value of this contract when the award decision was first published, but the winner’s ownership structure was not known at the time. Now it is.

Delta and the State After 2012

Delta Real Estate is no newcomer to major projects in Serbia, but the relationship between the group and the current government has already gone through a court dispute with a measurable outcome. Miroslav Miskovic and his son Marko Miskovic were arrested in December 2012, in an anti-corruption campaign led by the then First Deputy Prime Minister Aleksandar Vucic. After a lengthy trial, Miroslav Miskovic was finally acquitted of tax evasion charges and of malfeasance involving road-building companies.

The epilogue played out before the International Centre for Settlement of Investment Disputes of the World Bank (ICSID), known as the Washington arbitration. Serbia lost that case to Marko Miskovic’s company and, under the ruling, was ordered to pay 30 million euros in damages. Not quite fourteen years after the arrests, companies from the same ownership group are now working on the state’s most expensive project.

The accommodation operator contract is one of the side jobs running alongside the construction itself, bound by a deadline that cannot move: the exhibition opens on May 15, 2027.