A good team, headed by a true leader, hard work, and constant monitoring of business trends are proven recipes for success, which is exactly the case for NOVASTON. Today, NOVASTON is a well-known real estate brand distinguished for its property, asset, project and marketing management services. They take pride in the fact that they are approaching the number of 100 employees just before the celebration of the first ten years of business operations. We talk with the owner and CEO, Mia Zečević, about how the company took advantage of the turbulent changes in the market to expand services and operations in the region. As a result, today they can boast of developing more than 40 strategic projects as well as managing 500,000 m2 for more than 15 foreign and domestic clients.
NOVASTON real estate platform stands out for the fact that it has mostly women in the leading positions, including you as a CEO. Have you ever, throughout your career, questioned your success and leadership in this powerful business, run by mostly male leaders?
Prejudices of any kind have not at any point affected me, not even those related to the position of women in relation to men. I have never let my gender be an obstacle in my career. Although it was not always easy, I had the support and guidance of strong and successful people, both women and men, who gave me the chance to gain experience and make progress as a person and as a professional. There is no progress without hard work, and that is why now, as the CEO of NOVASTON real estate platform, I have a team that follows up trends and successfully develops services in the field of real estate management, with a focus on office space. Leading positions in our company are held equally by women and men, primarily experts with many years of experience who set high standards in the real estate market. We strive to ensure that education, innovation, as well as quality and hard work, are valued regardless of gender or other affiliation.
MIA ZEČEVIĆ, OWNER AND CEO, NOVASTON
We have been living in crisis circumstances with rapid and radical changes for a while, which additionally burdens every business, especially management, with risk and stress. How did your team deal with such situations? What business actions of NOVASTON are you proud of from that period?
All industries, including real estate, faced turbulent changes in the global and domestic markets. On the other hand, this time also brought an opportunity that we used to strengthen and develop NOVASTON. We have not only significantly expanded the services but also the team—we are already approaching the number of 100 employees. Something like this would not have been possible if we had not always taken care of the employees while growing the business, which currently covers a range of services from marketing to asset evaluation, project development, and property management services. After almost a decade of business operations, NOVASTON has been involved in more than 40 strategic projects and manages 500,000 m2 for more than 15 foreign and domestic clients, among which are BIG CEE and NEPI Rockcastle, CPI, GTC, Ikea Serbia, as well as MK Group, Novkabel, and Aleksandar Gradnja... In addition to the already established position in the retail, office, and logistics sectors, we continue to apply trends in the aparthotel management sector through cooperation on the newly built Woodside project, a complex of 162 apartments in Kopaonik. The management concept is based on providing quality maintenance services and a warm relationship with the apartments' owners and guests. In addition to management services, the goal of our platform is to offer the owners a return on investment through the rental of apartments, taking into account the tourist potential and the concept of the project. We are working on several other similar projects, aiming to provide all stakeholders in the project development process with a long-term investment product.
Out of the entire portfolio, NOVASTON platform has achieved exceptional results in the retail park and office space sectors. What are the tendencies for the further development of these sectors, given the general estimate that both are very promising in our market?
We keep following the expansion of the demand for high-quality office space in central business districts. It is no longer just about modern design; companies are looking for high-tech and functional office space that enables work flexibility, stimulates productivity, and fosters creativity, with an emphasis on the health and well-being of employees. Environmental protection is also part of responsible corporate management, which is why commercial buildings must adhere to energy efficiency and sustainable development standards. Our Leasing team offers attractive business premises within the Central Business District (Indotek’s portfolio, Airport City, Kennedy Offices, Bridge Plaza in block 43, Grawe building...). When it comes to the retail sector, NOVASTON operationally manages 14 STOP SHOP retail parks in Serbia that are part of the large investment fund CPI Property Group, the AVA Shopping Park of the IKEA company, as well as the PULS Shopping Park in Pirot. Our long-term client is the Promenada shopping center in Novi Sad, owned by NEPI Rockcastle Group. According to our rich experience, investors are increasingly turning to retail parks in smaller cities, because its construction requires less funds and a relatively short term in several phases. Those centers are also becoming social gathering points; hence, the offer of social content—cultural events, concerts, themed days, and weekends—is therefore growing. In that sector, too, more and more attention is being paid to ecology, whether through the use of renewable energy sources for work or the installation of electric car chargers.
NOVASTON expanded its operations in Croatia as well, through the retail sector, but also through hospitality management. What is this project about?
We started our portfolio in Croatia by participating in the setup and management of retail parks. We then expanded our business into hospitality management and the development of luxury commercial and residential facilities. I would point out our consulting services in property management for a luxury real estate resort in Istria region, including over 250 luxury apartments and villas. Currently, amog other cities, we are focusing on projects in Rijeka, including the development of commercial and residential facilities in the city center as well as the entire city core of Rujevica.
This year, the number one topic in the real estate sector is energy efficiency. Is this aspect becoming more important to buyers and tenants, as well as investors?
Even before the last crisis caused by the war in Ukraine, developed countries invested in the diversification of energy sources, the security of supply, decarbonization, and energy efficiency. Investors are also increasingly choosing to implement solutions that include renewable energy sources. NOVASTON Project Management, as part of the platform, was engaged in the successful BREEAM certification of STOP SHOP parks in Serbia and Croatia, which is one of the most important methods for setting green building standards. We are also involved in the reconstruction project of the Novkabel Hall in Novi Sad, where the Schneider Electric Hub will move next year. The 17,000-square-meter structure will be reconstructed in accordance with all green building standards. It will not only be energy efficient and carbon neutral but also highly technologically equipped in regards to lighting, air quality, employee comfort, and so on. Our entire team is capable and knowledgeable about the operational management, design, and marketing of such facilities.
By: Petra Dobrosavljević
Photo: NOVASTON
