The purchase agreement for the apartment in Montenegro was signed in December 2023. The money was transferred by a company owned by his father in Dubai, the property is formally registered in his wife’s name, and Popović has revealed that he also has two loans for property purchases that he must repay by 2040.
After purchasing an apartment worth almost one million euros in Belgrade Waterfront, Miloš Popović, chief of staff to outgoing Serbian Parliament Speaker Ana Brnabić, has also bought a property in the luxury Luštica Bay development in Tivat, Radar reports. His wife, Marina Popović, is formally registered as the owner, while the money came from Dubai. According to well-informed sources cited by Radar, a company owned by his father provided almost the same amount that had previously been made available for the purchase of the Belgrade apartment.
Official Land Registry records show that the 98-square-metre apartment is registered in his wife’s name. It is located in the second row from the sea, directly behind a luxury five-star hotel and a marina with berths for expensive yachts.
In a statement to Radar, Miloš Popović confirmed that the Luštica Bay apartment was paid for by his father’s company in Dubai. He also acknowledged having two loans from abroad, with a repayment period of 17 years. Since both loans were arranged in 2023, this means that he is due to repay almost two million euros by 2040.
Right by the sea
A Radar source previously revealed that, three years ago, the chief of staff to the Speaker of Parliament, who is now also acting president of the Republic and served three terms as prime minister, Ana Brnabić, purchased an apartment in Luštica Bay, one of the most exclusive tourist and residential developments on the Montenegrin coast, near Tivat. Official Land Registry records reviewed by Radar show that the apartment is registered in the name of his wife, Marina. It forms part of a two-storey villa and is situated in the second row from the sea, directly behind the five-star The Chedi hotel, the marina with berths for luxury yachts and the promenade.
The Popovićs did not buy the apartment directly from Luštica Development, the company behind the entire complex, which was built partly with the help of loans from Alta Bank. Instead, the property was sold to them by an Egyptian citizen. The agreement was certified by a notary, and the property transfer tax was paid to the tax authorities in Tivat.
A well-informed source quoted by Radar says that the luxury apartment was paid for by Callisto Group FZCO, a Dubai-based company owned by Miloš Popović’s father. The purchase agreement, worth 950,000 euros, was signed in December 2023, during the week immediately preceding Serbia’s snap parliamentary elections.
“Miloš himself was in Tivat with his wife at the time and completed all the formalities related to the purchase,” the source, who wished to remain anonymous, told Radar.
According to Radar’s information, the Popovićs did not purchase the apartment directly from Luštica Development, the project’s investor and main developer. The complex was built partly with loans from Alta Bank, owned by Davor Macura, whose operating licence was revoked by the National Bank of Serbia last Saturday. The luxury property was sold to Marina and Miloš Popović by an Egyptian citizen whose identity is known to the Radar newsroom. The agreement was certified by a notary, and the property transfer tax was paid to the Tivat municipal tax administration.
This is clearly a property of considerable value, seemingly far beyond the means of a state employee who is one of Ana Brnabić’s closest associates. He has worked for the SNS politician since 2017, when she first became prime minister. It remains unclear what other activities he was involved in, at least none that would sufficiently explain the purchase of expensive properties worth millions of euros.
Vesna Lalić/Nova.rs
While stressing that he is not a public official and never was one during his time as chief of staff, Popović referred to an official opinion issued by the Agency for the Prevention of Corruption. He said he was not required to declare his assets or private business activities, “especially considering the fact that my private business activities are abroad, have no connection whatsoever with Serbia, involve no conflict of interest, and that I have never conducted business or earned a single dinar or euro from those activities in Serbia, either directly or indirectly from the Serbian state budget”. In his written response, Popović confirmed Radar’s findings that the property in Luštica Bay had been paid for by a Dubai-based company wholly owned by his father and registered in his wife’s name.
The combined value of just the two properties in Belgrade and Tivat runs into millions of euros, an amount clearly beyond the income of a state employee who has been one of Ana Brnabić’s closest associates since 2017, when she first became prime minister. He acquired these properties while serving as her chief of staff.
“The transaction went through all banking procedures, the purchase agreement was certified by a notary in Montenegro, and all taxes in Montenegro were duly paid. My father has had a company in Dubai for years, engaged in developing new technological educational tools and online platforms using artificial intelligence, as well as innovative software solutions for human resource management. This company is not some offshore vehicle, but a duly registered business operating in the UAE. Every year, it submits audit reports to the relevant regulatory authorities and reports and pays taxes and fees in the UAE, in accordance with all the rules and laws there. His UAE company has absolutely no business activities in Serbia and generates all its income exclusively within the UAE,” Popović stated.
The mysterious “benefactor” from Dubai
Publicly available records show that Popović until recently served as chairman of the supervisory board of Politika AD and as a member of the supervisory board of the Official Gazette, both state-owned companies from which, at least officially, he could not have earned a substantial amount of money. Meanwhile, his wife Marina is a co-owner of the real estate agency Amara Living, whose business activities are not described in detail even in the Serbian Business Registers Agency’s records. Until May this year, she was also a co-owner of the Mun Sushi NB restaurant, which reported a net profit of just 1,790 euros for 2025. She has since transferred her 20 percent stake to the majority partner, and the company is now solely owned by Luxembourg-based Lumi S.A.
Until May this year, Popović’s wife was a co-owner of Mun Sushi NB, which reported a net profit of just 1,790 euros for 2025. She has since transferred her 20 percent stake to the majority partner, leaving Luxembourg-based Lumi S.A. as the restaurant’s sole owner.
On paper, the Popović couple do not own substantial assets. The apartment they purchased in Belgrade Waterfront still does not appear in the Land Registry. Five plots of land in Ripanj are registered in their names, although three other individuals and a company called Ionet also hold ownership stakes. Ionet is owned by Igor Stojković and French citizen Eugénie Anne-Marie Simon Rig. According to available records, Marina and Miloš Popović also own a building and a plot of land in Krčedin. The property is, in fact, a holiday home measuring approximately 60 square metres.
We also asked Popović how he had acquired such expensive properties, whether the apartment in Belgrade Waterfront had also been purchased through his father’s Dubai company, and whether he had received an interest-free loan from that company. “That loan was not provided by my father’s company, nor by any other ‘mysterious’ or ‘Arab’ company,” Popović stressed.
Luštica Bay, the property registered in the name of Popović’s wife, cadastral number 1100/101. Source: webmap.uzn.me
“I have taken out two separate loans under two official loan agreements concluded between a resident and a non-resident lender, and both credit arrangements have been duly registered with the National Bank of Serbia. The purpose of both loans was to purchase real estate in the country using foreign currency. This was done in accordance with the legal procedure and all checks and approvals required by the National Bank of Serbia concerning foreign currency transactions and credit relations with foreign entities, as well as the regulations governing domestic commercial banks, which also approved the transactions. The repayment period for these two loans is 17 years, not 40,” Popović said.
In doing so, he confirmed Radar’s report from May last year that a foreign company had “lent” him one million euros without charging any interest, although the loan was granted for 17 years rather than several decades. Had the “benefactor”, whose identity Popović has not disclosed, deposited that million euros for 17 years at an annual interest rate of just two percent, the amount would have grown to 1.4 million euros by the end of the term. This raises the question of what motivation someone could have had to lend a political figure’s chief of staff in Serbia such a large sum without interest, effectively missing out on 400,000 euros.
His sister is also doing well: a minister-counsellor at Serbia’s UNESCO mission
All in all, there are too many coincidences for everything to be purely coincidental. This is particularly true given that the Serbian Chamber of Commerce once paid approximately the same amount, around one million euros, to his own sister, Aleksandra Popović. That was the price of “consulting services” provided to the Chamber by her company, HRD Pro Consulting, whose legal representative is Zvonko Popović, another member of the same family.
Why would anyone lend one million euros interest-free for 17 years to the chief of staff of a politician in Serbia, effectively losing out on 400,000 euros? Had the money been deposited at an annual interest rate of just two percent, it would have grown to more than 1.4 million euros by the end of that period.
Aleksandra has also been permanently employed at the Permanent Delegation of the Republic of Serbia to UNESCO in Paris since 2021. She initially served as first secretary but has since been promoted to the rank of minister-counsellor, a senior diplomatic position immediately below ambassador. The Ministry of Foreign Affairs’ official website still lists her in that role.
While her diplomatic career progressed, her company spent as many as 238 days under a bank account blockade over the past year, reportedly due to a debt of just 790 euros. It ended the previous year with a net loss of 38,718 euros and business revenue of only 4,996 euros. Someone should certainly explain why the Serbian Chamber of Commerce chose precisely this company to provide it with “consulting services”.
vov.gov.vn / Aleksandra Popović
What makes the matter even more unusual is that, apparently with the exception of Radar’s journalists, nobody found it strange that HRD Pro Consulting’s financial statements were absolutely identical for three consecutive years: 2021, 2022 and 2023. In each of those years, business revenue amounted to 74.2 million dinars, operating expenses stood at 70.2 million dinars, and “intangible expenses” totalled 59.4 million dinars. Even more unusually, each set of financial statements listed the previous year’s business revenue as 7.3 million dinars, expenses as 5.6 million dinars and intangible expenses as 3.2 million dinars. According to the latest financial statement for 2025, Aleksandra Popović’s company generated less than 5,000 euros in business revenue last year while recording a net loss of 38,646 euros, 7.7 times higher.
The Serbian Chamber of Commerce once paid one million euros for “consulting services” provided by the company owned by Miloš’s sister, Aleksandra Popović, who is permanently employed at Serbia’s Permanent Delegation to UNESCO. Perhaps this would not be so unusual had the company not ended 2025 in the red and spent 238 of the last 365 days under a bank account blockade over a debt of just 790 euros.
For the Popović family, however, the SNS’s defeat in the October 25 elections could prove considerably more significant than the financial losses. After all, they achieved much of what they have today while Miloš faithfully followed Ana Brnabić like a shadow, from Nemanjina Street to Andrićev Venac. In the meantime, he also strengthened his ties with the SNS through his wedding best man, Novak Nedić, the longest-serving Secretary-General of the Government of Serbia.
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Source: Radar Foto:Milos Tesic/ATAImages
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