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Elan Properties

Elan Properties DOOEL Skopje


Investment value


45.000.000 euro


1.614.285 euro






Elan properties was announced in 2007 as a British investment worth 45 million euros and 500 new jobs; it was to build a new shopping centre behind Ramstore. The cornerstone was laid in 2008, by the Prime Minister at the time, Nikola Gruevski. The building, which spread over an area of ​​30,000 square meters, was due to become operational in 2 years’ time i.e. in 2010.

The Minister of Transport at the time, Mile Janakieski, during the cornerstone laying ceremony said that the construction of the mall, by the renowned Elan Properties, will contribute towards improving the business climate in the country and that it will send a signal for new investments, spurring the development of fair competition in this area.

The construction work was to be performed by Gema Group from Skopje. 

The shopping complex was to consist of a ground floor, two floors and an underground section with four levels. The first three underground levels were to be occupied by a parking lot with the capacity for 411 vehicles, while the upper part of the building, aside from the 70 stores, was to have 66 other facilities.

The site was offered for sale through a licitation and there were 6 interested buyers for the location of the mall.

Elan Properties, part of the English group East Balkan Properties PLC, won by offering 24,800 denars per square meter, for a total 2.2 million euros. 

There is no information available on what happened after and why this investment collapsed.

On their website, British company says that they have constructed shopping centres in Bulgaria, Romania, Slovakia, Serbia. No information is offered on what happened in Macedonia.

The information that is available shows that Elan Properties is still operating in the country.

There are 3 companies registered: Elan Properties DOOEL, Elan Properties Engineering DOOEL, and Elan Properties BC-S, and two of them have the same address, Leninova street ( Aminta III). The law firm of Cukic and Markov is also registered at the same address.

Namely, the first owners of Elan Properties DOOEL are Serjoza Markov and Lazar Cukic, lawyers known to the public for representating large companies close to the ruling structures.

This company does not have any employees and its non-current assets amounted to about 1.6 million euros.

The owner of Elan Properties BC, however, is Alfeks Inzenering, owned by an offshore company from the Netherlands Antilles.

The owner of the third company, Elan Properties Engineering DOOEL, is an offshore company from Curacao.

Last update: 04 april 2017

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