This is the Most Expensive Real Estate in BiH

April 15, 2017 4:45 PM

real estate SarajevoWhile at the first glance it probably does not seem like that, this real estate is actually the most expensive business premise in BiH!

This is the object owned by Sarajevo-osiguranje (Sarajevo-insurance), which is located at Muje Sejte Street 7 in the Municipality of Vogosca, and its value, according to the latest published revision report of the company for the year of 2015, amounted to 2,550,213 BAM.

Taking into account that the business premises occupy 242 square meters, we can simply calculate that a square meter here cost 10 538 BAM, which definitely puts it on the top of the list of most expensive business premises in our country.

Prices of other business premises in this municipality, as well as the most attractive locations in Sarajevo, are not even close to the amount estimated for the real estate of Sarajevo-osiguranje, however, the reasons why the expert in civil engineering Kasim Zulum determined such a high amount remain unknown. To recall, the expert Kasim Zulum was arrested in late 2016, together with former Mayor of Novi Grad Sarajevo Damir Hadzic, and he is charged with the criminal offense of abuse of evaluation of real estates.

Besides the expensive real estate in Vogosca, Sarajevo-insurance, according to estimates of expert Kasim, can boast with several other highly valuable properties, including the one in Jajce, whose value was estimated at a total of 2,205,795 BAM, or 7,377 BAM per square meter, or the one in Capljina, whose value was estimated at 3,511,785 BAM, or 4,857 BAM per square meter.

In the past five years, Sarajevo-insurance expressed more than 16 million fictitious incomes based on the increased value of its assets, which ultimately resulted in overvalued shares of this company. The Government of FBiH tried to sell those shares through the stock exchange at a price of 12.99 BAM per share, or 27.39 million BAM, but without success. Then they decreased the price to 10.39 BAM per share or 21.9 million BAM, but there were no interested buyers again.

There was no success when it comes to non-binding offers as well, and the last interested buyer, who offered 15 million BAM, gave up.



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