Following the entry of InterCapital Real Estate Fund Alfa into the ownership structure of City Center one Split earlier this year, Raiffeisen Pension Funds have now recognized the value of this leading shopping center – confirming the growing interest of institutional investors in prime commercial properties.
Raiffeisen Pension Funds have acquired a strategic stake in City Center one Split, one of Croatia’s most successful shopping centers. This marks their first investment in commercial real estate since the legislative liberalization in 2024, underscoring the increasing appetite for high-quality assets among institutional investors.
The entry of Raiffeisen Funds highlights the strong value of this property, which has been managed by CC Real since its inception. Over the past 15 years, CC Real has significantly strengthened the center’s market position, sustainability, and operational performance.
“Raiffeisen Pension Funds’ investment in City Center one Split is further confirmation that we have transformed this shopping center 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. At CC Real, we don’t just manage spaces, we unlock the full potential of every property, creating long-term value for investors, tenants, and the community through business model development, advisory, innovation, and investment planning,” says Neda Buljević Vlačić, CEO of CC Real, which manages City Center one Split.
In the past three years, CC Real has reinforced the center’s position as a prime commercial property through strategic management, brand building, market repositioning, and a comprehensive refurbishment worth over €22 million.
City Center one Split also sets new standards for sustainable shopping centers in Europe. It is the first in Croatia aligned with EU taxonomy and holds one of the most prestigious global certifications for sustainable construction and property management – DGNB Gold. These achievements not only contribute to climate change mitigation and resilience to climate risks but also reduce operating costs and enhance market value.
Earlier this 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 new co-owners in less than a year confirms CC Real as a key co-creator of a new investment phase in Croatia’s real estate market – where expertly managed, first-class commercial properties prove their value to investors, signaling both stability and market maturity.
