Sava Properties 2026 Takes Over 16 Hectares of Belgrade Fair
Serbia's government founded Sava Properties 2026 and contributed 42 plots and halls of the Belgrade Fair, 161,756 square meters valued at 13.64 billion dinars, as capital in the new firm.
Belgrade Fair property valued at 13.64 billion dinars has passed to a new state owned company. On July 30, 2026, Serbia’s government adopted a decision to establish the company Sava Properties 2026 d.o.o. Beograd, published in the Official Gazette. The entire amount was contributed as an in kind investment, meaning land and buildings, without a single dinar in cash.
The Republic of Serbia is the company’s sole founder and member, with the government exercising founding rights on its behalf. At the approximate August exchange rate, the founding capital of 13,636,719,000 dinars is worth around 116 million euros.
What Exactly Goes Into the New Firm’s Capital
The in kind contribution consists of 42 cadastral plots covering a total of 161,756 square meters, just over 16 hectares on the bank of the Sava River. The land includes halls 7, 8, 9, 10, 11 and 12, parts of halls 13 and 14, as well as the office, warehouse and auxiliary buildings of the fair complex.
Dividing the assessed value by the area works out to about 84,300 dinars per square meter of land with buildings, or roughly 719 euros. The valuation was carried out by the City Institute for Forensic Appraisal, in a market value report on the Belgrade Fair real estate dated May 14, 2026.
The documentation accompanying the decision contains a detail rarely found in the founding act of a company with double digit billions in capital: part of the buildings were constructed without a building permit, and for some of them the status of the owner or holder has not been resolved.
The decision also provides that the new company can be registered without any further involvement from the founder:
The founder agrees that, on the basis of this decision, the Company may be registered with the Republic Geodetic Authority, Real Estate Cadastre Service Savski Venac, as the sole owner of the real estate, without its further presence and without any additional separate consent (clausula intabulandi).
That clause shortens the path to registration in the cadastre: the new company completes the process on its own, without a new act from the government.
Why Does the Karadjordjeva 48 Address Matter?
The new company’s headquarters is in Belgrade, at Karadjordjeva 48. The same address is home to Belgrade Waterfront, along with BW Galerija, BW Kula and Geozavod. Sava Properties 2026’s registered main activity is development of construction projects, the same one under which Belgrade Waterfront operates.
Marina Matic was appointed director. The company’s bodies are the assembly, in which the Republic of Serbia is represented by up to three authorized representatives, and the director.
What Has Changed Since 2023
The state registered the Belgrade Fair land and halls to the Republic of Serbia in mid 2023, shortly after Belgrade was awarded the Expo 2027 exhibition and after the relocation of the fair to Surcin, near the national stadium, was announced. Serbian President Aleksandar Vucic said in August of that year that the contract for the sale of the fair’s property to Belgrade Waterfront had been signed on March 16, 2023. The terms and price from that contract have never been published.
Public inspection of the amendments to the Belgrade Waterfront spatial plan was announced in August 2024 and envisaged demolishing all halls except hall 1, which has the status of a cultural monument. After objections from the Serbian Academy of Sciences and Arts (SANU), the profession, students and citizens, the commission decided to preserve halls 2 and 3 as well.
We reported earlier on Belgrade Waterfront’s debt of around 100 million euros, which the authorities have not addressed. Setting up a separate company for the fair plots means that property now has its own balance sheet, separate from Belgrade Waterfront’s.
What Comes Next
The transfer to Sava Properties 2026 does not answer the question of under what terms and at what price the fair’s property will pass to Belgrade Waterfront. It does, however, open a mechanism with simpler rules: a stake in the company can be sold, contributed to a joint venture or transferred by a single decision, while selling plot by plot takes longer and leaves a more public trail.
The next measurable step will be registering the company with the Serbian Business Registers Agency (APR) and changing the rights holder in the cadastre in Savski Venac. A residential development called Marina Belgrade Waterfront is planned for that area, an extension of the Belgrade Waterfront project toward Ada Ciganlija.
