Sirius Offices, a 30,000 sqm business complex located in Belgrade’s business district, has reached 100% occupancy, offering a clear sign of the healthy rental demand for Class A office space in the Serbian capital. The solid macroeconomic growth and continued record FDI inflow in Serbia, coupled with a constrained pipeline for top-tier office space, has led Belgrade to have a market-wide office vacancy rate of only around 6%, the second-lowest such rate in the CEE region.
Sirius Offices was developed and continues to be owned by Erste Group Immorent, a commercial real estate subsidiary of the Vienna-based financial services provider Erste Group Bank AG. The office complex in New Belgrade provides a prominent example of the 22 projects, including 9 office spaces, that Erste has financed in Serbia’s commercial real estate sector.
“By investing in the development of Sirius Offices, Erste placed a significant bet on the underlying dynamism of Serbia’s economy and the need for high-quality office space in the Belgrade market. Reaching full occupancy at Sirius is a clear indication that our belief in the great potential of the Serbian economy’s growth has been well-placed,” said Wolfgang Hausner, managing director of Erste Group Immorent. Hausner joined more than 550 tenant representatives, office staff, and local stakeholders in celebrating the office complex reaching a zero vacancy rate at a large event held on-site at Sirius Offices on Thursday, October 17th.
Diverse tenants are drawn by accessible location, excellent infrastructure
Located on the Milutina Milankovića boulevard in the sought-after business district of New Belgrade, Sirius consists of two Class A buildings that provide flexible office environments, as well as retail and gastronomic spaces, for the nearly 2,000 individuals who work there. The site, which has 388 parking spaces, offers excellent connections to other parts of Belgrade, also via various public transit lines.
Sirius’s modern offices house tenants from a broad range of sectors and industries, including finance, IT & telecoms, and construction. In addition to Sirius serving as the head office for prominent Serbian firms, a large number of multinational companies from such countries as Austria, China, Italy, Sweden, and Switzerland have chosen the site to house their Serbian subsidiaries. Erste Bank Serbia and construction conglomerate Strabag are among the anchor tenants at Sirius, while Italian motorcycle manufacturer Ducati has become its newest tenant.
Sirius offers strong green credentials
Sirius Offices holds an “Excellent” certificate according to the BREEAM standards, which set a wide range of environmental criteria and assess the impact of construction solutions on the environment. The BREEAM certificate reflects the value of real estate viewed through the prism of improved solutions and their performance in the entire life cycle of the building, from the construction to their use and renovation. In attaining this distinction, Sirius also reflects the strong emphasis that Erste places of conducting business in a socially and environmentally responsible manner.