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Sale of cultural goods

Whose Albania is it?

October 27, 2025, 14:52 p.m KS
Palace of Albania Photo: Vreme/Katarina Stevanović
The Palace of Albania is the first skyscraper in Belgrade
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Offers are open for the purchase of part of the first Belgrade skyscraper, with a cheap starting price. However, who offered how much and received more than three thousand square meters in the Palace of Albania has not yet been officially confirmed

Ten days ago, bids for the purchase of the work were opened Palaces Albania, that is, seven of its floors, which until now were owned by Beogradska banka in bankruptcy.

As "Vreme" unofficially learns, at least one offer was received, however, the Deposit Insurance Agency, which is the bankruptcy administrator of this property, did not confirm how many offers were received, which bidders they were, what amounts they offered and who - in the end - bought a little more than 3.300 square meters in the center of Belgrade.

As Bloomberg adria writes, this office space has been sold.

According to the previously published ad, the estimated value of the seven advertised floors is 10 million euros, i.e. slightly more than 3.000 euros per square meter, and this is the minimum amount that bidders could give for office space in the first Belgrade skyscraper, which was declared a cultural asset more than 40 years ago.

This time, the price is significantly lower than the price at which 381 square meters in the Palace of Albania was sold in 2022 for 3,88 million euros, i.e. more than 10.000 euros per square meter.

No response from the Institute for the Protection of Cultural Monuments

Although the building of the Palace of Albania was declared as cultural good, the regulations say that it can be put into circulation. In this case, however, the property owner must first offer the facility Institute for the Protection of Monuments of the City of Belgrade and at the same market price as other customers, which can be legal and natural persons, domestic and foreign.

The Institute for the Protection of Cultural Monuments of the City of Belgrade has been informed of the intention to sell, but so far has not made a statement regarding the sale of part of the building, the Deposit Insurance Agency told Vreme.

"In accordance with the law on cultural heritage, and after receiving our notification of the intention to sell, the protection institution was obliged to declare within no longer than 30 days from receiving the notification of the intention to use the right of pre-emption, and since we did not receive a declaration, the public opening of bids was conducted on October 17, 2025", according to the AOD.

After the decision of the competent authorities of the bankruptcy procedure, the bankrupt Beogradska bank again addressed itself, even though it no longer has a legal obligation, to the Institute for the Protection of Cultural Monuments of the City of Belgrade with a notification about the outcome of the sale procedure and an invitation to, if they are interested in buying, submit their offer within eight days and pay the deposit, they add.

After all deadlines have expired, and depending on the response of the Institute for the Protection of Cultural Monuments of the City of Belgrade, the sale will be completed, they further state.

"Vreme" contacted the Institute for the Protection of Cultural Monuments of the City of Belgrade, i.e. the information service of the City of Belgrade regarding these issues, but the answers did not reach the conclusion of this text.

In bankruptcy since 2002.

Bankruptcy proceedings against Beogradska banka ad Beograd were opened on January 3, 2002.

After more than 23 years, the largest part of the property has been cashed and the collection of claims has been carried out, and the conditions have been met for the preparation of actions to end the bankruptcy proceedings, which includes the sale of the remaining property, including parts of the Palace of Albania, according to the Deposit Insurance Agency.

"Following the decisions of the competent authorities of the bankruptcy procedure, which approved the sale of the remaining property, a legal procedure was implemented, which implies that 15 days before the publication of the advertisement, the court, the Board of Creditors and all interested parties should be informed about the plan, intention, method and terms of the sale, on which occasion such a notification was also sent to the Institute for the Protection of Cultural Monuments of the City of Belgrade, bearing in mind that the Palace of Albania has the status of a registered cultural asset - a cultural monument."

The first skyscraper

The palace in the very center of the Serbian capital is also its first skyscraper, built in 1939. At that time, she was considered one of the most successful architectural, urban planning and sculptural solutions in the construction practice of Belgrade.

For a long time, the building was the tallest in Belgrade, and the second in Southeast Europe.

The building has 13 above-ground and four underground floors, is 53 meters high and has 8.000 square meters.

It got its name from the tavern from the 19th century that was located there. During the Allied bombing in 1944, it was hit by a half-ton bomb because it housed an anti-aircraft shelter for high-ranking German officials. And yet, the reinforced concrete structure withstood and Albania did not suffer major damage.

 

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Beograd palace Albania Real estate City Institute for the Protection of Cultural Monuments
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