State firm awards €3.85m Ohrid building contract to CEACON

The state joint-stock company ADISSDP has signed a contract for construction of a commercial residential building in Ohrid worth approximately 3.85 million euros including VAT, with the Tetovo-based contractor CEACON. The company must complete the works within 18 months from the moment the contractor is introduced on site.

The project will be built on Block 8.2, plot 7.10. According to public documentation published by ADISSDP, the building’s gross floor area is 8,108 square metres, which corresponds to roughly 475 euros per gross square metre with VAT based on the contract price.

Costs and scope

The largest portion of the contracted sum is allocated to construction works: about 3.24 million euros. Electrotechnical works are budgeted at approximately 264,500 euros, water and sewer installations at about 203,300 euros, and mechanical and thermal installations at roughly 122,300 euros. A protective pit is budgeted at around 18,000 euros and traffic works at about 2,800 euros. All figures quoted include VAT.

The 475-euro calculation refers to the gross area, which also includes corridors, staircases and other common parts; the price per saleable square metre will therefore be higher. ADISSDP has not yet published the final sellable area, so projected revenue from sales cannot be determined at this stage.

ADISSDP is planning two commercial residential buildings in Ohrid with a combined total of 130 housing units. In July of last year, ADISSDP director Marjan Stefanovski announced that the procedure for one of the buildings was underway and that the second would follow through a separate process.

Under ADISSDP’s commercial model, completed apartments are offered to citizens by public auction. For comparison, apartments in the state building near "Dare Dzhambaz" in Skopje — which had 112 units — started at 1,450 euros per square metre and in public auctions reached prices from about 1,600 to 1,916 euros per square metre; all units in that building were sold. The final sale price for the Ohrid project will be a key factor in assessing the profitability of this investment.

The selected contractor has also attracted attention for its business links. Public corporate records show that CEACON holds a 35 percent stake in ANI-ENERGETIK from Tetovo, where Nuri Bedzeti is the manager and owns 59 percent; that ownership structure has been recorded since September 2023. Nuri Bedzeti appears on the U.S. sanctions list within measures related to the Western Balkans.

Photo: press material from the event