Sustainability Without Compromise: How Marera Sets Standards in Property Management

Belgrade, March 26, 2025

Marera Properties, part of the Marera Group, has established itself as one of the key investors in the investment and renovation of business properties in Serbia, with a particular focus on preserving the architectural heritage of Belgrade. Over the past seven years, the company has revitalized 100,000 m² of space, transforming it into modern, energy-efficient business environments. Through carefully selected investments and an innovative approach to real estate development, Marera creates workspaces across three commercial property classes: office, retail, and industrial, that meet the needs of modern companies.

Marera’s business model is built on sustainability principles, modern renovation approaches, and the implementation of ecological technologies. This includes improving the energy efficiency of properties, using renewable energy sources, which is a prerequisite for obtaining BREEAM certification. Through its portfolio, the company not only revitalizes urban spaces but also actively contributes to the development of a business environment that connects historical heritage with modern solutions.

We spoke with Bojan Ljubičić, Portfolio Director at Marera Properties, about managing their 200,000 m² portfolio.

Sustainable Energy and Ecological Standards

What are the sustainability principles you’ve identified as key to managing your 200,000 m² portfolio?

The sustainability of our portfolio is based on an integrated approach that covers ecological, economic, and social impacts. After successfully reconstructing 100,000 m² of office space in the city center, we have not only improved the quality of the properties but also enhanced the urban environment, economically empowered the local community, and enabled the creation of quality, sustainable workspaces.

We believe that business properties should be more than just workspaces – they can contribute to the broader community. That’s why we have opened our spaces for initiatives that have a positive social impact, such as voluntary blood donation drives, support for people with disabilities, and collaboration with the Red Cross in distributing humanitarian aid. These projects are part of our sustainability strategy, which extends beyond the physical boundaries of the properties and directly contributes to the quality of life in the community.

Green energy is becoming a key element in corporate sustainability strategies. How does Marera Properties use sustainable energy sources in its portfolio?

Marera Properties is committed to ecological responsibility, with the goal of offsetting the negative CO₂ footprint of its operations by investing in green energy projects. Since May of last year, our entire portfolio is powered by electricity from certified renewable sources. This move allows us to procure green energy, which has a double effect: reducing the environmental impact and ensuring a sustainable supply chain. The agreement to use electricity from renewable sources also enables us to obtain green energy consumption certificates, which offer numerous benefits to our tenants. These certificates confirm that the supply chain is in line with ESG standards, and purchasing certified green energy supports renewable energy projects, including hydropower, wind, and solar energy.

Palata Beograd is preparing for BREEAM certification. How important is this process for ensuring and increasing the value of a property, as well as attracting investors?

BREEAM certification is one of the most important indicators of sustainability and the quality of business properties. Through preparatory steps for certification, such as optimizing energy efficiency, improving ecological standards, and increasing green areas, Palata Beograd has already significantly raised its market value. These standards not only guarantee lower operating costs but also send a clear signal to investors that the property is sustainable in the long run and attractive for investment. When Palata Beograd, located in the city center, features 2,000 m² of green spaces, which were created through a responsible renovation project, it’s an additional sign that sustainability standards, both inside and around the property, align with BREEAM norms. Our goal is for all properties in our portfolio to obtain certification according to BREEAM and WELL standards by 2027.

In parallel with the certification of properties, you are starting your first solar power project within the portfolio. What is the long-term plan for renewable energy sources?

Our goal is to gradually increase the share of renewable energy sources in our portfolio, reducing operating costs and CO₂ emissions. In the first phase, we will implement a “prosumer” model within our retail properties, which will allow us to produce as much energy as we consume. Initially, solar panels will be installed on the roof of our retail park in Zemun – Forum Park. By the end of 2026, solar panels will be installed on the roofs of Forum Shopping Center in Niš and Kalemegdan Business Center in Belgrade. This will optimize costs for both the portfolio and tenants. Additionally, by the end of 2028, we plan to start producing electricity through the “producer” model, which we would offer to the market. Through the implementation of these projects, by 2028, we aim to reduce CO₂ emissions by 21,000 tons annually, which is a significant reduction that our entire portfolio can achieve.

Sustainability is not only about energy efficiency but also responsible resource use.

Every initiative for responsible resource use contributes to our decarbonization strategy. For example, we use a rainwater collection system on our properties, which allows us to significantly reduce the use of potable water for irrigating green spaces, optimizing resources and further improving the ecological performance of the properties. The industrial park Pobeda uses its green spaces to set up beehives, and the mowed grass is regularly donated to the local equestrian club. There is always the possibility of recycling and circular use of primary resources, and this is one of the areas we actively focus on.

Financing the Green Transition

When all properties are energy-efficient, it opens up opportunities for green loans. How do you assess the market’s readiness for such financial models, and what are the obstacles?

Green loans are a logical next step in the development of the sustainable real estate market, but their wider application depends on regulatory support and the interest of financial institutions. Currently, there is growing interest in financial instruments that support ESG standards, but it is necessary to further educate the market and develop clear criteria for their implementation.

What financial instruments do you consider key to promoting green construction and sustainable infrastructure?

In addition to green loans, incentives for energy-efficient projects and various funds that support sustainable investments play a significant role. It is important for the financial sector to actively cooperate with investors to enable favorable conditions for the development of sustainable projects.

Marera Tomorrow

How do you see Marera Properties at the end of the green transition?

At the end of the green transition, we see the company as having achieved CO₂ neutrality at all levels, as a leader in sustainable property management, with a portfolio that fully uses renewable energy sources, applies the highest energy efficiency standards, and actively contributes to the development of the green economy. Our properties will not only be energy-efficient but also spaces that enhance the quality of work and life for our clients, while at the same time strengthening the local community through economic and social contributions and creating long-term value for all market participants.