Throughout its history, but also squeezed between the current challenges of globalisation and sovereignty, the Balkans has been confronted with a number of different political, economic, environmental, and cultural problems. Such a complex social framework inevitably implies spatial degradation, not only in terms of the urban forms as the final planning product, but also in terms of the nature of the planning process and urban governance. Notably, we assume that territorial capital in the Balkans is under serious threat due to the abuse of legal procedures, the neglect of the public interest and the politicisation of planning. To elucidate this, we focus on the megaprojects Belgrade Waterfront (Belgrade) and Hellinikon (Athens) as examples of urban development that require exceptional conditions such as special regulations, additional funding, long-term timeframes, and ad hoc actor networks. Against the conceptual background of multi-level governance and based on in-depth case studies, we examine the nature of vertical cooperation between authorities at different levels (from supranational to local), horizontal cooperation amongst different stakeholders, and the role of planning professionals who are seen as facilitators in this process. Finally, we point out to the most important conditions that enable a democratic social, political and professional framework for urban megaprojects.