Festina Technology is committed to manage investments and advice companies focused primarily on the transition markets in the Ex-Yugoslav countries. Founded by architect Danilo Furundžić and economist Danko Golubović, and staffed by regional investment and engineering specialists, the company offers a combination of land investment and real-estate development understanding, with a network of contacts and established business relationships in Serbia, Montenegro, Bosnia & Hercegovina, Croatia and Slovenia. The concept of the company is to develop in the Ex-Yugoslav counties western style enterprise headquarters, commercial centers, offices and residential buildings, as well as industrial, public and free time complexes.
Specific Aims
- Raise funds
- Identify opportunities
- Invest directly
- Develop strategic
- Gradually enlarge
Added Value
- Extensive local funding
- Innovative approach
- Competitive coast
Laying at the confluence of two rivers – the Sava and the Danube, occupying the central position in Southeast Europe, Belgrade has a strategic point at the intersection of the pan-European corridors No.10 and No.7. and represents the main communication and logistic hub in the Balkan region.
It is with this in mind that Festina Technology has concentrated it’s activities in the capital of Serbia, processing projects which will accommodate the up-going economy. Hopefully as Belgrade expands so will it’s requirements for residential, commercial, retail and industrial space.
Our strategy is to use our experience, skills and connections to local source and manage attractive projects and bring in capital to develop a desirable real-estate product for the upper end of the mass market. We do this in order to fulfill our main objective which is to generate high returns for our investors.
Our current focus is on the Serbian market where many opportunities exist.
As the taxing system was imposed, things have changed by 2006 decreasing investors incomes in real-estate transactions, but simultaneously making the development process more transparent and friendly oriented to investors. By 2007 the economic boost expanded to the real-estate market, and was stopped in 2008 by the credit crunch. By 2010 only tight controlled engineering-development companies continued to successfully operate in the real-estate financial market in Serbia. Despite of the ongoing financial crises in the following years the construction development business in the Ex-Yugoslav countries stayed profitable. With that in mind founders of Festina Technology saw the investment slow down as the right time to regroup and start joint-venture partnership developments with new partners, focusing on midscale deals and shifting their services from financial to management and engineering services.
From 2010 the management team of the company has separated services form the property investment portfolio of Rixos ltd. owned by Roaming Electronics Group. Forming independent partnership contracts organized as Special Purpose Vehicle companies on several construction and land development sites in Serbia (developing commercial, retail and residential projects, as well as leading some land urbanization deals along the highway industry zone) by 2013. the total land portfolio managed by Festina Technology was valued at 20 million Euros.