Czech real estate fund group ZDR Investments has bought a shopping park in Rijeka, Croatia, worth EUR 40 million (CZK 970 million). The first phase of the 30,589 sqm Galeria Bakar was completed in April this year. The second phase of the retail park, which will add another 11,000 sqm of leasable space, will be completed next year. It too will subsequently become part of the group’s portfolio.
“This acquisition strengthens our position in Croatia and brings another large property with high return on invested capital to our portfolio. The share of foreign real estate of our fund for qualified investors exceeded 50 percent with this acquisition,” said Roman Latuske, partner of ZDR Group. In addition to the Czech Republic, the company also owns properties in Austria, Germany, Croatia and Slovakia.
According to the company, Galerie Bakar on the shores of the Adriatic Sea is the largest retail park in the area of Rijeka, neighbouring islands and the Gorski Kotar region. The area is located in the commercial zone of Kukuljanovo, which was first a brownfield site that has gradually developed into an industrial and commercial centre in recent years. A total of 10,000 jobs are to be created there, and thanks to Galeria Bakar, 350 jobs have now been added to the zone.
In total, Bakar has 15 tenants, including Interspar, Jysk, Deichmann, Takko, Zoo City and Hervis. The project was built by the Austrian development group MID-Bau.
Source: Seznam Zprávy and CTK
Photo: ZDR Investments
