The Ninth Annual International Conference on the Real Estate …filipovic-advisory.com/UserFiles/File/cren/CREN_81... · 2013. 4. 25. · Branko Roglić, President, Orbico d.o.o

The Ninth Annual International Conference on the Real Estate Market in Croatia

CONFERENCE REPORT

Volume 81, April 2013Croatian Real Estate Newsletter

CREN Patrons:

Croatian Real Estate Newsletter, April 2013. 2


The Ninth Annual International Conference on the Real Estate Market in Croatia was held on April 9 & 10, 2013 at the Esplanade Zagreb Hotel.At the Conference there were 115 domestic and international speakers and altogether more than 500 participants. On the 23 interesting panels held, we tried to underline the most important topics in commercial real estate market, all through a joint discussion.This year we have enriched the Conference with the following topics:

Main Institutional Patrons – the Ministry of Construction and Physical Planning and the Ministry of Economy, the Patrons – American Chamber of Commerce in Croatia and Advantage Austria, the Technology Partner – Siemens and the Partner Agency – Agency for Investments and Competitiveness. Also, a big thanks to all the speakers, sponsors, participants and media partners for their personal approach and commitment and with that, their contribution to the overall success of the Conference.

How to Initiate Investment Projects, Major Infrastructure Projects, Energy – Renewable Energy Sources, Application of European Union Law In Croatia, Green Building and New Investments, Public Sector Investments, Industry and Logistics, Development of Golf Projects, Architecture, Design and Art, Taxes and Real Estate, Revitalization and Reconstruction of Real Estate.We would like to especially thank the Partner Country – the United Kingdom of Great Britain and Northern Ireland, the

CONFERENCE REPORT


The Conference started with the panel Accession of Croatia to the European Union, moderated by Marija Noršić, Member of the Management Board, Filipović Business Advisory Ltd. The introductory speeches were held by His Excellency Ambassador of the United Kingdom of Great Britain and Northern Ireland David Slinn and Anka Mrak Taritaš, Minister of Construction and Physical Planning.

its 30th anniversary this year. Vice president of the company, Markus Lehnert presented Moxy Hotels by Marriott, a new brand of budget design hotels developed from the cooperation Inter IKEA and Marriott. Dietmar Reindl, Director Offi ce, Logistics, Hotel,

presented exceptional projects from the Immofi nanz Group, one of the largest listed European investment companies in the commercial real estate.

These were followed by the Presentation of Partner Country Projects. Duncan Innes, Executive Director of Real Estate, London Legacy Development Corporation and Adrian Johnson, Partner and Director at EC Harris Investments Ltd. presented their projects.

At the last year’s Conference there was a presentation of Planning and construction of London Olympic Games 2012 Project. This year, the legacy and the value of the project after the Olympic Games were presented. Using the infrastructure and innovations from the Games, the new park will provide an exceptional model of urban regeneration, accentuating green building and sustainable management. EC Harris, a leading international built asset consultancy, has presented several projects, such as: Fulham Wharf Regeneration, Kettering Science Academy, Children’s and Women’s Hospital in Kiev, Cadarache Fusion Facility, but also their role in organization of the Royal Wedding. The second panel in the Emerald ballroom of the Esplanade Zagreb Hotel, named Presentation of big projects was moderated by Tomislav Ćurković, President, Croatian Chamber of Architects. On that panel international and Croatian major development projects were discussed. Werner Kruckow, Project Director, Siemens, presented one of the most sustainable buildings in the world situated in London that is also the Center of Sustainable Cities Initiative by Siemens – the Crystal. Bruno Bonifačić, Chairman of the Board, ACI d.d., presented ACI Marinas, a very important nautical project on the Adriatic coast that is celebrating


Ambassador, United Kingdom of Great Britain and Northern Ireland and Tobias Stone, Partner, Adriatic Advisors Ltd.; • On the panel Application of European Union Law in Croatia, distinguished speakers gave their review on the legal aspect of real estate transactions after entering the European Union, limitations of ownership rights and relation between commercial companies and real estate. The panel was moderated by Prof. Tomislav Borić, Ph.D., Distinguished Professor of Law, Institute for Austrian and International Commercial and Corporate Law, Faculty of Law, University of Graz. Panel members were Snježana Bagić, Deputy President, Constitutional Court of the Republic of Croatia, Prof. Tatjana Josipović, Ph.D., Faculty of Law, University of Zagreb and Mario Vukelić, President, High Commercial Court of the Republic of Croatia;

• The panel Housing – Is There a Residential Market in Croatia?, this year also brought many interesting topics such as apartment fi nancing and apartment prices as a refl ection of market conditions. Energy effi ciency experts talked about the impact of energy certifi cates on the apartment price. The moderator was Dubravko Ranilović, Partner, Kastel Real Estate,

Zagreb and President, Real Estate Association at the Croatian Chamber of Commerce, while the other speakers were Natko Bilić, Director, Planetaris Ltd., Ilijana Jeleč, Management Board President, Erste Nekretnine d.o.o., Saša Poldrugač, Director, Burza nekretnina d.o.o. and Prof. Josip Tica, Ph.D., Department of Macroeconomics and Economic Development, Faculty of Economics & Business, University of Zagreb.

The topics discussed in the Paris Suite were:

• Major Infrastructure Projects, where we could hear more about the projects of hydroelectric and thermal power plants and also about water utility projects in realization. The Moderator was Petra Škevin, M. Sc., Member of the Management Board, Filipović Business Advisory Ltd. The panel members were Zlatko Koračević, President of the Management Board, HEP d.d. and Ivica Plišić, General Manager, Hrvatske vode;

• Architectural Policies of the Republic of Croatia 2013-2020, ApolitikA, National Guidelines for Excellence of Building and Building Culture, Environment Status and the Physical Planning Act. The panel was moderated

After the Conference opening and Presentations of big projects, nine more panels were held in the Istanbul, Paris and Venezia Suites, three by three simultaneously.

In the Istanbul Suite the following panels were held:

• How to Initiate Investment Projects, where the role of the State in attracting investors was discussed, along with the foreign and domestic investments

as initiators of the development of Croatian economy. Moderator of the panel was Damir Novinić, Managing Director, Agency for Investments and Competitiveness. Panel members were Denis Čupić, Managing Partner, F.O. / Development d.o.o. and President, Croatian Developers’ Association under Croatian Employers’ Association, Ivan Kusalić, Project Director, Razvoj golf d.o.o., His Excellency David Slinn,


by Borka Bobovec, Ph.D., M.Sc.Arch., Ministry of Construction and Physical Planning. The panel members were Snježana Đurišić, M.Sc.CE., Ministry of Construction and Physical Planning, Helena Knifi ć Schaps, M.Sc.Arch. and Nevenka Koričančić, M.Sc.Arch., Ministry of Construction and Physical Planning; • Green Building and New Investments – Application of New “Green” Technologies in Development of New Investments in Croatia. The moderator was Snježana Turalija, Executive Director, Green Building Council of Croatia. The panel members were David Boruta, CEO, HB Reavis Croatia d.o.o., Tomislav Franko, Head of Technology and Marketing, Wienerberger, Mark Gero, Board of Directors, Green Building Council of Croatia and President, Eco-Logic Systems, Vedrana Likan,

President, Green Building Council of Croatia, Tomislav Perković, Board of Directors, Green Building Council of Croatia and Projekt Manager, Verdispar, Saša Randić, Member of the Board, Randić i suradnici d.o.o. and Daniela Roguljić Novak, Member of the Manage-ment Board, Zagrebačka banka d.d.

In the Venezia Suite the following panels were held:

• Comparison of Croatian, Slovenian and Serbian Real Estate Markets, where we heard more about the condition of the real estate market in the region, legislation and taxes, but also about ways of possible collaboration. The panel was moderated by Dubravko Ranilović, Partner, Kastel Real Estate, Zagreb and President, Real Estate Association at the Croatian Chamber of Commerce. The panel members were Jože Novak, President of the Board, Imos Holding d.d., Aleksandar Opsenica, Director, REBEC Events, Jože Podgoršek, President, FIABCI Slovenija and Boško Tomašević, Associate Director – Head of Agency Department, Jones Lang LaSalle, Serbia; • Energy – Renewable Energy Sources – Realization of projects from renewable energy sources in Croatia, where the capital projects in energy sector and the importance and role of renewable energy sources was presented. The moderator was Barbara Dorić, Project Manager, Center for Monitoring Business Activities in the Energy Sector and Investments (CEI). The panel members were Željko Koščak, Director, Construction and Investment Department, HEP OPS d.o.o., Tamara

Perko, Director, Specialised fi nance, Zagrebačka banka d.d., Mladen Perkov, Director, Pro Integris Ltd., Ira Saul Rubenstein, Partner, Trafi con, Herman Seidl, Managing Director, Agrokor energija, Agrokor d.d. and Davor Stanić, Attorney at Law, Law Offi ce Stanić;

• Public-Private Partnership – Imperative of Social Responsibility and PPP Projects in Croatia in 2013 and 2014. The panel moderator was Vladimir Skendrović, Ph.D., Advisor. The other speakers were Josip Borak, Member of the Managing Board, Center for Monitoring Business Activities in the Energy Sector and Investments (CEI), Nicholas Iliff, Partner, Gowlings, London, Damir Juričić, Ph.D., Managing Director, Agency for Public Private Partnership and Branko Vukmir, Ph.D., Advisor.


After the offi cial part of the fi rst conference day, representatives of the Partner Country, Institutional Patrons, Patrons, sponsors, speakers, participants and other guests were invited to the Emerald ballroom of the Esplanade Zagreb Hotel for the Gala Reception. In the musical part of the evening all of the guests could enjoy the performance of Najbolji hrvatski tamburaši. The Conference continued on Wednesday, April 10, 2013., when in the Istanbul Suite the following topics were discussed:

• Public Sector Investments, Industry and Logistics, where we could hear about development of public sector as a support to industrial development and about investments in industrial and logistic sector in Croatia. The moderator was Prof. Ljubo Jurčić, Ph.D., Faculty of Economics & Business, University of Zagreb. The panel members were Ivana Bakunić, Project Manager, Meridian 16 Business Park, Leo Penović, General Manager, HEP-Development of multi-purpose real estate projects Ltd., Branko Roglić, President, Orbico d.o.o. and Ana Škorić, Valuer, Jones Lang LaSalle d.o.o.;

• European Union Funds – Role and Signifi cance of EU Funds in the Development of Croatian Economy, where some of the “hot topics” of EU funds but also useful advices and experiences for the use of the funds were discussed. The moderator was Mirjana Samardžić Novoselec, Executive Director, Razbor d.o.o. The panel members were Davor Čilić, Managing Director, WYG Consulting Ltd., Ružica Gelo, Director, Center for EU, Croatian Chamber of Economy, Gordan Leskovar, Project Manager for Biocentar, BICRO and Ivan Sertić, M.Sc., Industrial park Nova Gradiška d.o.o.;

• Tourism – Relationship between an Investor and Local and Regional Government and Impact of Croatian Accession to the EU on Tourist Investments. The moderator was Goran Hanžek, Director, Arte Hotel Management d.o.o. The panel members

were Una Barac, Director, Scott Brownrigg, Burak Baykan, Investments Regional Manager, Dogus Group, Georg Eltz Vukovarski, President of the Management Board, Valamar Adria Holding d.d., Dražen Nikolić, Member of the Board, ACI d.d., Lorena Prebanda, Member of the Management Board, Kermas Istra d.o.o. and Goran Veljović, Attorney at Law; • Development of Golf Projects – The Future of Golf Development in Croatia – Is There a Green at the End of the Tunnel? The moderator was Marnix

Von Bartheld, Partner, KPMG Advisory for Real Estate, Leisure & Tourism, Hungary. The other speakers were Ivan Kusalić, Project Director, Razvoj golf d.o.o., Ken Moodie, Director, Creative Golf Design Ltd. and Arn Willems, General Manager, GTC Croatia.


In the meantime, the panels held in the Paris Suite were:

• European RE Landscape – Grey Clouds or Sunshine for European Property Markets: Will Croatia Be Rescued?, where we heard more about the current condition and position of Croatia in comparison with other European countries and about the impact of Croatia’s EU accession on the local real estate market. Moderators of the panel were Fabijan Matošević, Partner, Victorios and Ward Stocker, Partner, Victorios. The panel members were David Boruta, CEO, HB Reavis Croatia d.o.o., Grant Boyd-Gibbins, Partner, Sundance, Tiago Eiró, EMEA Sierra Services, Sonae Sierra, Arvi A. I. Luoma, Director, Investment Team, Europe, W. P. Carey Inc. and Arn Willems, General Manager, GTC Croatia;

• Taxes and Real Estate – How to Design a Tax Policy That Leads to GDP Growth?, where we could hear more about the new proposal of the Real Estate Tax Law. The moderator was Marija Noršić, Member of the Management Board, Filipović Business Advisory Ltd., and the speakers were Sandra Švaljek, Ph.D., The Institute of

Economics, Zagreb and Hrvoje Zgombić, M.A., Partner, Zgombić & Partneri d.o.o.;

• Mixed-Use Projects – Adding Value with a Complimentary Mixed-Use Development, which showed diffi culties developers are facing in Croatia at the moment and how a mixed-use development may create opportunities for them. The panel was moderated by Dominic Burke, Valuer, Valuation

and Professional Services, Jones Lang LaSalle d.o.o. The panel members were Nicholas Frankopan, Managing Director, Oak Investment Management Group, Zlatko Gregurić, Principal Banker, Property & Tourism Team, European Bank for Reconstruction and Development, Josip Marohnić, Attorney at Law, Law Offi ce Marohnić, Zagreb and Tomislav Matija Varga, Country Head and Managing Director, Erste Group Immorent Croatia;

• Retail Spaces – Do We Expect Big Changes in Retail Spaces’ Market After the EU Accession? The moderator was Patrick Franolić, Director, Spiller Farmer d.o.o. The panel members were Denis Čupić, Managing Partner, F.O. / Development d.o.o. and President, Croatian Developers’ Association under

Croatian Employers’ Association, Igor Hržić, Country Manager, Bluehouse Capital, Nenad Peris, Director, Commercial Real Estate Brokerage and Advisory Service, Colliers International d.o.o., Michael Pugh, Executive Director, Arena Centar upravljanje d.o.o. and Gerald Zimmermann, General Manager, CCC Austria Ges.m.b.H.

The panels held in the Venezia Suite were:

• International Green Building Certifi cates – Importance of LEED, BREEAM and DGNB in Real Estate Development Projects in the Context of Croatian Accession to the EU. The panel was moderated by Snježana Turalija, Executive Director, Green Building Council of Croatia. The panel members were Željka Hrs Borković, Member of the Board, Energy Effi ciency Expert,


Planetaris Ltd., Renato Krikšić, Director, HFC grupa d.o.o., Hrvoje Kvasnička, Vice President, Green Building Council of Croatia and Senior Project Manager, Jones Lang LaSalle d.o.o. and Vesna Želježnjak, Holder of the Offi ce of the Mayor, City of Koprivnica; • Architecture, Design and Art – Little REdiscussions: Brand in Real Estate, Place Identity, Place Marketing, the idea was to offer an inspiration to developers and businessmen who participate in the real estate market in Croatia, with a mosaic approach. The moderator was Petra Škevin, M. Sc., Member of the Management Board, Filipović Business Advisory Ltd. The

panel members were Davor Bruketa, Creative Director and Cofounder, Bruketa&Žinić OM, Ivana Budin Arhanić, Management Board Member, Valamar Grupa d.d., Sandra Jakopec, President, Association of Croatian Urban

Planners and Director, APE d.o.o. and Silvije Novak, Partner, 3LHD d.o.o.;

• REvitalization and REconstruction of Properties in City Centres, where the speakers talked about the infl uence of revitalized buildings on development of city zones, commercial feasibility and gave a number of examples of successfully developed projects of reconstruction and revitalization on national and international level. Moderator of the panel was Patrick Franolić, Director, Spiller Farmer d.o.o. The panel members were Branimir Medić, Partner, de Architekten Cie. d.o.o., Mihael Topić, Head of Expansion, Billa d.o.o., Miroslav Vajagić, Member of the Management Board, HOTO Group Ltd. and Karla Vučković, Director for Development, Investment and Real Estate Management, Tita grupa d.o.o.; • The City of Šibenik: Yesterday, Today, Tomorrow, where we heard more about the cooperation between Norway and the City of Šibenik, new development of the western part of the city and city administration role in attracting new investors and development of investments. The moderator was Jana Gaćina, Director, Media In, Agency for marketing communications. The other speakers were His Excellency Henrik Ofstad, Ambassador, Royal Norwegian Embassy in Zagreb, Petar Mišura, Department Head,

Administrative Department for Economy, Entrepreneurship and Development, City of Šibenik and Krešimir Šakić, Director, TEF d.d., while they were joined by the Šibenik City Mayor, dr. Ante Županović.

Finally, a big thanks again to everyone for their personal contribution, energy, knowledge and ambition that they have combined with those of all the other Conference participants and by doing so, gave their contribution to the overall success of the Conference. Without such personal approach and commitment of all the participants, a Conference can not be successful or complete its purpose. We, as organizers, have felt that approach and commitment which we value highly and are thankful for it.


We would once again like to especially thank all the sponsors, business partners and media sponsors of the Conference:


PUBLISHER:

Filipović Business Advisory Ltd.Trg bana Josipa Jelačića 3/V10000 Zagreb – CroatiaTel: +385 1 481 69 69 Fax:. +385 1 483 80 60e-mail: cren@fi lipovic-advisory.com

It is our wish that the Croatian Real Estate Newsletter / CREN be a sour-ce of speedy and quality information for all who are active in the real estate sector – developers, planners, contractors, mediation agencies etc.

Please send your comments, proposals and opinions to cren@fi lipovic-advisory.com to help us improve CREN and make it the leading medium on the Croatian real estate market. Editorial staff: Vladimir Filipović – editor-in-chief, Natalija Kordić, Tanja Marković, Bojana Mikelenić, Marija Noršić i Petra Škevin.

Documents

The Ninth Annual International Conference on the Real Estate …filipovic-advisory.com/UserFiles/File/cren/CREN_81... · 2013. 4. 25. · Branko Roglić, President, Orbico d.o.o