Serbia-business.eu: Ca Immo is one of the leading Austrian Real Estate firms operating in Serbia. Can you tell us more about current situation of the Real Estate sector in Serbia?
CA Immo is present on the Serbian RE market as of 2007. At this moment we have 2 prominent office buildings: Sava Business Center and Belgrade Office Park. With investment above 100mil Euro in real estate projects we are among leading RE foreign investors in Serbia.
We are very happy with our tenants who choose our buildings, showing that modern office space is really necessary. I would like to mentioned just few of them: Piraeus Bank, VIP Mobile, Credit Agricole Bank, Pepsi, Nokia Siemens, Ericsson and others.
Serbia-business.eu: You developed and operate Sava Business Centre, hight tech office space in new Belgrade area, can you tell us more about the project development, problems and incentives during the construction?
It is very hard to work when you have unclear Laws, bunch of them, different interpretations from different state administration. Maybe the best illustration is that city building land tax when we acquire Sava Business Center was 0. 4 euro/m for net usable area, today after we finished building, city building land tax is 1.8 euro/m for gross area. Overall increase is almost 6 time. We hope that state will find solution that landlord do not pay property tax, land lease and city building land tax.
Serbia-business.eu: Do you plan to continue RE development projects in Serbia? What is the perspective of that business area in the future?
CA Immo is present on the market and will continue to monitor development of economical situation and real estate sector. Real Estate sector is strongly connected with real economy situation, especially commercial properties. Real Estate sector also highly depends on financial market and stability of the country. We believe that things will be better in coming period and that the hardest period for Serbian RE market passed away. But recovery will not be so fast!
Serbia-business.eu: In your opinion what does Serbia actually can offer to Austrian companies coming here, is Serbia attractive enough for SEE regional market development?
In my point of view and trough statistical researches Serbia is missing apartments, shopping centers, logistic centers and maybe not at the moment but in a long run modern office space too. There is also great number of infrastructure works which should be done. So here is big potential and investment climate depend on Serbia too. All countries are fighting for foreign investors and Serbia has to continue to be aggressive, but also more readable and reliable toward foreign investors, local too.
SEE region was hit by crises stronger than the rest of Europe, of course it depends from country to country. Taking whole into account I think that Serbia had less problems then some neighboring countries and that Government in general is handling situation not so bad, taking into account available resources.
Serbia-business.eu: How do you evaluate the competitiveness of Serbia as potential destination for investors, will EU integration and future membership change something in that aspect?
EU Integration will for sure help Serbia to stabilize economy and maybe to boost it. Economical growth is always followed by RE investments.
Serbia-business. eu: Serbia is identified by many investors as Emerging market and Sourcing| Outsource location, what would be your message coming from years of experience in doing business in Serbia and obviously from examples of best practice ?
Serbia is not among high developed countries but Serbia is quite comparable with other countries in the region, and we have to be aware that comparing with the countries in region Serbia had quite modest support from international community. There are still many chances for Serbia but they should not be missed
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FORT LAUDERDALE (CN – A woman blames Toyota for the death of his daughter by carbon monoxide poisoning, because its smart key system is still running his Lexus in silence, without a key in the ignition of Toyota faced a similar lawsuit in New York last October .. Nickles Kimberlin sued Toyota and dealer auto JM Lexus, the Broward County Court. also sued premium Marbella Apartments, where his daughter, for lack of a ventilation system security. Nickles said that his daughter, Chasity Glisson, parked his Lexus in the garage under the house and accidentally let it go. She says Glisson "inadvertently forgot to turn off the motor vehicle or object pushed the start / stop recording in an effort to do so, but was unsuccessful." "Presumably, after leaving the vehicle, causing plaintiff, Chasity Glisson, did not realize that the subject vehicle was running when he came home with the key. To the best knowledge and belief, Toyota motor vehicle designs subject model to be almost silent and smooth, and therefore plaintiff died, Chasity Glisson, could not hear the engine idling as she exited the vehicle and went into his house the key. "Nickles said the family and friends, concerned about not knowing Glisson and his partner, Tim Maddock co-plaintiff. He alerted the police who entered the apartment the next night to find Glisson" without pulse or breath "and Maddock "Unable to speak or move. "Glisson died from carbon monoxide poisoning, and Maddock suffered debilitating injuries. Nickles says that" new technologies, such as Toyota key electronic system requires a change in the behavior of basic consumer and deep. For example, consumers who use the electronic key system no longer have to turn the key and remove the ignition. This can lead to predictable errors such as accidentally leaving the vehicle running after exiting the car. "In addition, keyless start technology allows an operator to inadvertently remove the key from the vehicle while the vehicle is running." The Toyota Smart Key keyless device uses a computer to send signals to an antenna inside the vehicle to start the car. Nickles says, "National Highway Transportation Safety Administration has received numerous complaints from consumers who have left their cars with the key on his person and mistakenly left the car engine running." A woman in Queens, NY , Filed a similar lawsuit in October 2010, saying that his partner was murdered and she was permanently injured on the same stage. Nickles says: "Due to technology," Smart Key "is a feature of convenience and, in general, the new technology that allows an operator to remove the key from the vehicle while the vehicle is running, it creates safety risks that traditional technology was key, including the risk of carbon monoxide emitted by the vehicle while the driver, along with the key, not in the vehicle. "She says Toyota ignore these" foreseeable "and not" to install an automatic switch off or close if a consumer inadvertently leaves the vehicle running with the key on his person. "It seeks damages for wrongful death, negligence and product liability. Is represented by Robert Kelley with Kelley Uustal.
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