Located in one of Podgorica's most sought-after and rapidly appreciating districts, this property offers a rare opportunity to acquire an urbanized development parcel in the immediate vicinity of Central Point, Big Fashion Shopping Center, The Capital Plaza, City Kvart, and other key commercial and residential landmarks. The property consists of an urbanized parcel of approximately 652 m² with an existing residential building of approximately 400 m², offering investors, developers, and private buyers multiple value-creation opportunities. 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. 📞 📧 www.violetinvestment.com
