Prime Development Land with Existing 400 m² Building Near Central Point & Big Fashion – Potential Future Upside

Key Property Features

• Prime location adjacent to Central Point and Big Fashion Shopping Center
• Urban parcel area: approximately 652 m²
• Existing residential building: approximately 400 m²
• Residential zoning designation
• Maximum Site Coverage Index: 0.40
• Maximum Construction Index (FAR): 1.20
• Permitted development under current UTU conditions: Ground Floor + 1 Floor + Attic (P+1+M)
• Excellent connectivity to major boulevards and city infrastructure
• Strong residential and commercial demand in the surrounding area

Strategic Investment Potential

The property’s location places it within one of Podgorica’s highest-value urban zones, surrounded by modern residential complexes and mixed-use developments. The parcel offers potential for:

• Renovation and modernization of the existing building
• Reconstruction in accordance with applicable regulations
• Development of a new residential project
• Long-term land banking in a high-growth district
• Boutique residential or luxury housing development

Future Development Considerations

The surrounding area has experienced significant urban expansion, with neighboring developments characterized by higher density and larger construction volumes than those currently permitted under the existing Urban-Technical Conditions.

Accordingly, future investors may wish to evaluate the possibility of seeking revised planning conditions, urban plan amendments, or updated development parameters from the competent authorities. While no guarantees or approvals currently exist for increased building capacity, the character of adjacent developments may support the assessment of future planning opportunities.

Prospective purchasers should conduct independent urban-planning, architectural, and legal due diligence regarding any potential increase in development rights.

Planning & Legal Status

The parcel is covered by issued Urban-Technical Conditions (UTU) and is designated for residential development.

The existing building is currently considered a grey-zone structure, and buyers are encouraged to verify its legal status, legalization possibilities, and redevelopment options through their legal and technical advisors.

Location Advantages

• Steps from Big Fashion Shopping Center
• Immediate proximity to Central Point
• Close to City Kvart and The Capital Plaza
• Near schools, universities, restaurants, cafés, and business centers
• Excellent rental and resale market potential
• One of Podgorica’s most desirable residential and investment locations

Investment Summary

Development opportunities in this location are increasingly limited. Combining a substantial existing structure, urbanized land, premium positioning, and potential future planning upside, this property represents an attractive acquisition opportunity for investors seeking exposure to one of Podgorica’s strongest-performing real estate markets.

For further information, planning documentation, and viewing arrangements, please contact Violet Investment.

📞 +382 69 846 538
📧 info@violetinvestment.com
🌐 www.violetinvestment.com