CC Real further strengthens its position as a leading value creator and strategic manager in Croatia’s retail real estate market. Following the entry of InterCapital Real Estate Fund Alfa earlier in 2025, Raiffeisen Pension Funds have now acquired a strategic stake in City Center one Split, one of Croatia’s most successful shopping centres. The transaction marks Raiffeisen Pension Funds’ first investment in commercial real estate since the legislative liberalization in 2024, confirming the growing interest of institutional investors in prime commercial properties.
Long-Term Asset Development Under Professional Management
Raiffeisen Pension Funds’ decision highlights the strong fundamentals of City Center one Split – a property that has been managed by CC Real since its inception. Over the past 15 years, CC Real has continuously strengthened the centre’s market position, sustainability profile and operational performance, establishing it as a highly attractive asset for long-term institutional investors.
“Raiffeisen Pension Funds’ investment in City Center one Split is further confirmation that we have transformed this shopping centre into an attractive asset for leading institutional investors. Their investment strategy focuses on long-term, stable and predictable cash flows – and City Center one delivers exactly that: stable rental income, inflation-indexed leases, high occupancy and professional management,” says Neda Buljević Vlačić Managing Director CC Real Croatia and Head of SEE. “At CC Real, we focus on unlocking the full potential of every property, creating long-term value for investors, tenants and the wider community through strategic asset management and continuous development.”
Targeted Investments Strengthen Market Position
In the past three years, CC Real has further reinforced the centre’s position as a prime commercial property through strategic management, brand development, market repositioning and a comprehensive refurbishment programme exceeding €22 million. City Center one Split also sets new standards for sustainable retail real estate in Croatia. It is the first shopping centre aligned with the EU Taxonomy and holds with DGNB Gold one of the most prestigious global certifications for sustainable construction and property management. These achievements contribute to climate change mitigation, increased resilience to climate risks, lower operating costs and enhanced long-term market value.
A Signal for Croatia’s Evolving Real Estate Market
Last year, InterCapital Real Estate Fund Alfa, the first Croatian investment fund focused on commercial real estate, also joined the ownership structure. The entry of two institutional investors within less than a year confirms a new phase in Croatia’s real estate market – one characterized by professionally managed, high-quality commercial assets with stable income profiles. CC Real plays a key role in this development, demonstrating how long-term asset management expertise can create trust and value for institutional investors.
CC Real’s Croatian portfolio includes City Center one Split, City Center one Zagreb West and East, and Max City Pula. Internationally, the company manages properties and investments across markets ranging from EU countries to Australia. Leveraging this international expertise, CC Real will continue to support sustainable value creation and long-term stability across its portfolio.
(dp)
