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NewsMK Group plans to expand its business in real estate and hotel...

MK Group plans to expand its business in real estate and hotel business

In the coming period, MK Group is planning significant investments in all sectors in which it operates. The largest investments are expected in the segment of renewable energy sources, the plan is to expand the banking business both in Serbia and in the region, as well as the further development of the hotel business. Apart from greenfield investments in this segment, the group wants to invest in the Budva Riviera in Montenegro and they are interested in finding the best model with the state to realize this. This was announced by MK Group Vice President Aleksandar Kostić at this year’s CEO Summit held in Belgrade.

According to him, MK Group has managed to double its value in the last five years, and significant plans and investments are yet to come.

Speaking about the development of the banking sector, he said that their banking group now has a balance sheet total of some EUR 9 billion, and that the plan is to reach a minimum of EUR 20 billion in the next five years.

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– We have ambitions to open at least one or two more markets in the former Yugoslavia, either by buying a bank or expanding our existing business – said Kostić.

When it comes to agriculture, Kostić said that there is plenty of room to improve operations within existing businesses.

– Let’s say that in the coming period we don’t buy new sugar mills, but invest within Sunok, to be even better and enter branches that are complementary to the sugar industry. Also, the plan is to be even more efficient within agriculture. Carnex has been growing constantly over the last few years, and if we want to remain the best, to be the leader above all in terms of quality and to export, we must build a new factory. It is an investment of 40, 50 million EUR – stated Kostić.

Energetics, i.e. renewable energy sources, is the sector in which MK Group will definitely invest the most, announced Kostić.

– We have a plan to have 1 GW mainly from wind by 2028, and if we manage to realize the investment of a large solar plant above the Tower, then it will be up to 1.5 GW of installed energy from RES. On a good day, when the wind blows and when we have a sunny day, it is somewhere around 20%, 25% of the total electricity production in Serbia – he pointed out.

MK Group plans to expand its business in real estate and hotel business. The last investment is the Petram Resort in Savudrija, and new projects in the region are planned.

– We are off to a good start and now we have two or three destinations that we are preparing and where we would potentially like to make greenfield investments, to build new hotels. Two are in Croatia and one in Belgrade. We also have a share in the ownership of HTP Budvanska Riviera in Montenegro. We are strongly interested in cooperating with the authorities in Montenegro to finally start this story. Our intention is to open Sveti Stefan in full capacity, as well as to find a model to invest in the Budva Riviera, either as a minority partner, or as a majority owner if the state decides to transfer its ownership to us. These are all the plans we want to implement in the next five years – concluded Kostić.

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