The Foundations of Adora

The foundations of Adora, as a business initiative of the Chifliganec family, were laid in 1992 with the establishment of the first private pharmacy and a pharmaceutical wholesaler in Radovish, by the pharmacist Danka Chifliganec. Adora Pharmacy operated successfully for a decade.

When the market economy in Macedonia opened up new business opportunities, urged by his natural builder gene, rich experience, astute business sense and clear vision, the established businessman and social activist, prof. Vancho Chifliganec, PhD, started working in real estate development, with a focus on high-rise construction. Adora Engineering was founded in 2002.



Only the deeds are reality is the motto, with which prof. Vancho Chifliganec, PhD, after a successful managerial, academic and socially responsible career, founded the real estate development company Adora Engineering on August 28, 2002.

The Orthodox holiday Dormition of the Mother of God is the day of the establishment and patron-protector of the company.

Adora has established itself as one of the fastest growing and most successful companies, in 2012 it was the 12th most successful company in Macedonia according to the Central Register. It has grown into a synonym for stable, high-quality, eco-construction, a pioneer in introducing the latest standards, trends and innovations in the construction of the first energy-efficient, economical homes with sound insulation far above Macedonian standards, with contemporary design and style in the spirit of world urban architecture.

In Adora’s portfolio there are 40 representative residential and commercial buildings built in Macedonia, Serbia and Greece, with a total area of 400,000 m², in which more than 415 million euros were invested. The 3,000 and more homes in the "City of Adora" are the work of over 500 employees, in which 13,000 citizens live and work happily.


Adora diversifies its business operations in the banking-financial sector, shareholding in renowned companies in Macedonia and globally, in the energy sector and other economic activities in different geographical areas.

The company, which grew into Adora Business Group, has received 60 international and national awards, is known for its socially responsible tradition in international frameworks, with investments in the community of over 5 million euros, a lot of love and humanity in building a more equal and happier world for everyone.


In our primary real estate development activity, we offer the highest quality high-rise buildings that fully satisfy the needs of customers with a complete turnkey service, compliance with the established deadlines and application of modern standards and technologies. By building facilities for safe, comfortable and economical housing and
operation, with long-term benefits for buyers and the environment, our goal is to contribute to the improvement of the real estate market at a national, regional and international level.

And in other areas we operate in, such as banking, energetics, philanthropy and others, in Macedonia and globally, our priority is to create successful, sustainable stories for the benefit of the group, employees, economy and society as a whole.


Through continuous improvement of operations by monitoring and applying innovative solutions and the latest achievements in urban architecture, our goal is to raise the real estate market to a higher level and for buyers to receive permanent value, as the most profitable investment for multiple generations.

Flexible to the changing opportunities and challenges of the new era, we are always open to a wise expansion of our business portfolio with new diversified activities in our home country, the Balkans, Europe and the world.

Guided by global achievements and latest trends, our vision is to bring universal civilizational benefits on a national and local level in the environments we operate in.