JAT Apartments Kopaonik privatization fails after no valid bids

The initial attempt to privatize the state-owned JAT Apartments complex in Kopaonik has failed, as no valid bids were received for the starting price of approximately 5.1 million euros. The sale process, announced in July, required interested parties to be domestic legal entities that could demonstrate specific profitability and revenue thresholds.

As the process moves toward a potential second round, the starting price is expected to decrease. Under privatization laws, a second round could see the price drop by roughly 50 percent to approximately 2.6 million euros, with further reductions possible if interest remains low.

Businessman Mile Dragić, owner of Hotel Moskva in Belgrade, has expressed interest in submitting a bid during the second round. His company, Moskva DOO, meets the Ministry of Economy's requirements for domestic entities, having reported significant revenue and profit growth in the previous fiscal year.