Kolonija "B" Zmaj is located in the southwestern section of urban Zemun.
It spreads between the Belgrade-Novi Sad railroad (north) and the Belgrade-Zagreb highway (south, border to the municipality of Novi Beograd), and borders the neighborhoods of Novi Grad and Železnička Kolonija on the north and Blok 50, the northernmost extension of Bežanijska Kosa, on the east.
The neighborhood developed around the Zmaj factory, once famed Yugoslav producer of combine harvesters, tractors and other agricultural machines.
Belgrade's major wholesale open market is located just south of the neighborhood.
After the main street in this part, the eastern section of the neighborhood is also known as the "Joze Šćurle" settlement.