Client
AFI Europe and Shikun&Binui Group
Description
Central Garden is the first condominium in Belgrade downtown, located in-between the streets of Dalmatinska, Stanoja Glavasa, Kneza Danila and Starine Novaka, totalling 100,000 sq m and comprising 500 apartments, office tower of 16,000 sq m, inner private park of 2,600 sq m, numerous retail facilities on the ground floor, central reception, 24/7 security and professional maintenance.
Size
100,000 sq m
Assignment
CBS International is engaged as Exclusive Sales Representative of the investors
Provided services
Initial Development Advisory, including the advisory on the project structure, unit mix, size of each structure/type of unit, quality of finishing works, supporting amenities
Market Research and Valuation services throughout the whole planning and sales process
Sales strategy definition – Sales process planning, definition of the Pricelist for each unit separately, setting up the sales house, definition of all supporting documents
Exclusive Sales Representation Services team of 6 members dedicated to the project, working in the sales house on the construction site
Full Marketing Campaign involving copyright, design and production of all marketing materials, setting up and managing full advertising and PR campaigns, event management, PR events and all other related activities that are tailor-made for Central Garden
Close collaboration with the legal team on design of Reservation, Pre-Agreement and SPA templates
Close collaboration with the banks for coordination of credit buyers
Regular monthly sales reports sent to investors with sales analysis, evaluation of the achieved targets and revenues.
Progress and results
The construction works and sales process commenced in January 2015.
The first phase of 89 units completed in September 2015, 4 months prior to the deadline. All units were sold within the course of 6 months from the start of the construction
The second phase with 89 units – all sold, completed in June 2016, also finished 4 months prior to the deadline
The third phase of 129 units completed in November 2017, also fully sold out.
The forth phase totalling 67 units started in May 2017. It comprises two buildings out of which the first one is being completed in April 2018, all apartments being sold out fully, whereas the final building within the complex is set to start construction in May 2018. The
The list for interested parties for the final building amounts 5 times more interested buyers than the number of units.