A golden era began for Serbian businessman Davor Macura during the rule of the Serbian Progressive Party, during which he expanded his business to such an extent that he became one of the richest entrepreneurs in Serbia. The takeover of Idea supermarkets is currently underway, including Roda and Mercator, as well as a total of five companies owned by Croatia’s Fortenova Group. But what exactly is in his hands?
At just 44 years old, Davor Macura has become one of the wealthiest businessmen in Serbia.
Having acquired almost everything – mansions, companies, a bank, and at one point even an airline – the “cherry on top” came with the purchase of five companies owned by Croatia’s Fortenova Group.
Until recently, it had been unofficially “whispered” that Macura, through the newly established company Alta Retail, was buying Idea supermarkets in Serbia. However, this news was recently officially confirmed in North Macedonia, with the clarification that Macura is not only acquiring Idea supermarkets (including Roda and Mercator stores), but a total of five companies owned by Croatia’s Fortenova Group. According to Nedeljnik, Macura’s newly founded company Alta Retail paid €40 million for Idea supermarkets and four additional companies operating in Serbia under the Croatian Fortenova Group.
In the beginning, there was a currency exchange office
Macura began his business career in 2008 by opening his first currency exchange office under the name Alta. He soon became president of the Association of Serbian Exchange Offices.
His initial business circle consisted of exchange offices, the Alta Gold jewellery chain, and a number of smaller companies related to cash handling and trade.
The IMT complex
Macura owns, directly or through other companies, a large number of businesses.
However, the wider public first heard of him about three years ago when he purchased the IMT business complex (formerly the Industry of Machinery and Tractors) in New Belgrade for approximately €70.6 million. He did this through the company ABL Solvent, which at the time, according to official records, had no employees. By purchasing IMT, he also obtained usage rights over approximately 35 hectares of land, and in order to develop it, he needed to become the owner of those plots.
At the time, this meant land conversion costs that, under then-current prices, would have exceeded €200 million. However, everything was resolved when the state adopted a law allowing the conversion of land-use rights into ownership free of charge when purchasing a bankrupt company. In this way, this businessman, and many others, saved an entire fortune and effectively received valuable land plots on which luxury residential and commercial complexes are now being built.
The Union Hotel
The Procoopac Company, in which Macura is a co-owner, received €3 million in incentives for the refurbishment of the Union Hotel in Kosovska Street in Belgrade, as part of preparations for EXPO 2027.
At the time, the hotel was owned by Vladan Miketić, president of the Red Star Boxing Club, who is on trial as a member of the Vračar criminal gang for attempted aggravated murder. Recently, however, the hotel in the city centre has come under Macura’s ownership.
The first tranche of incentives, amounting to €900,000, was paid in June 2024. This was actually the first instalment for the adaptation and reconstruction of the Union, paid after a “positive auditor’s report”. The second tranche, €981,000, is scheduled for 2026, with Procoopac required to prove it has invested an additional €4.9 million in the hotel in the meantime. During 2026, a further €1,119,900 in subsidies is expected, contingent on proof of an additional €5.6 million investment.
The contract also stipulates that Procoopac must invest at least €15 million in the hotel within two years of the application date. Interestingly, the application was submitted on 29 November 2024 and supplemented on 11 December the same year, meaning the subsidies were approved in less than a month – highly unusual for Serbian administrative procedures.
However, although construction works are ongoing, reports indicate that Macura’s company has neither obtained a building permit nor formal construction approval, carrying out works under the classification of routine maintenance.
Utility bill payments via EPS
Macura’s flagship company is Alta Bank. In mid-2025, it came into the public spotlight after citizens were informed that electricity bills would be paid through this bank. The deal was concluded without a public procurement process. According to some estimates, Alta Bank’s annual revenue could increase by more than €17 million from this arrangement alone, assuming it retains a fee of around 50 dinars per electricity payment – roughly in line with similar bank charges.
This is not the first time companies within the Alta Group have participated in state-related or public sector projects.
In summer 2024, the company also won a tender for financial services related to public transport ticket collection in Belgrade, just one in a long list of its engagements. It has also been announced that parking fees may be paid through Macura’s bank. The Alta Group has also received state incentives for building, reconstructing, or expanding hotels in Belgrade due to EXPO 2027.
Zaha Hadid Architects (ZHA) and the Belgrade-based Bureau Cube Partners (BCP) were selected by Alta Bank to design the new Alta Tower in Block 32 in Novi Beograd.
Macura’s companies are primarily engaged in construction, real estate trading, and banking.
In addition to these, he owns Campari International, registered for residential and non-residential construction, as well as Al Stone, which deals with property rental and management, and Forum Vizije, involved in the design, production, transport, and construction of power lines.
Investments in SNS funds
Macura appeared on a list of businessmen who invested in the Vista Rica Invest and Vista Rica Corporate funds, founded by officials of the Serbian Progressive Party, including Tatjana Vukić, Vojislav Nedić, the father of Novak Nedić, and Srđan Davidović.
According to Radar, as a private individual, he invested 25 and 29.5 million dinars, while his Alta Pay Group invested 69.38 million as a corporate client – a total of nearly 124 million dinars, or just over €1 million.
According to BIRN research, through his company Danica Park, Macura owned two plots now owned by Nikola Petrović, the best man of Aleksandar Vučić. It was also reported that the same company acted as an investor in buildings still under construction on land owned by the wife of Zvonko Veselinović and on land belonging to Milan Radoičić and his wife, Ema.
(Nova, 21.04.2026)
https://nova.rs/vesti/biznis/sta-je-sve-u-kratkom-roku-kupio-davor-macura/