DRFG Investment Group acquires shopping centre in Croatia

The DRFG Investment Group, based in Brno, Czech Republic, has expanded its presence in Croatia with the acquisition of the Lumini shopping centre near Varaždin.

Lumini, Varaždin.

This marks DRFG's second acquisition in Croatia, following last year's purchase of the ZTC shopping centre in Rijeka. The transaction value for Lumini is estimated at approximately CZK 1.25 bn (€50 mln).

The Lumini shopping centre, located in Donji Kneginec near Varaždin, is the largest retail and leisure destination in northwestern Croatia, boasting 25,800 square meters of commercial space. The centre is fully occupied with 75 tenants, including major brands like H&M, New Yorker, Deichmann, Konzum, and CineStar, and attracts millions of visitors annually. Its strategic location in an economically strong and rapidly developing commercial zone was a key factor in DRFG's investment.

Jan Pelíšek, director of DRFG's Real Estate division, stated that this acquisition reaffirms their long-term commitment to developing the Croatian market, noting the continued growth dynamics of the Croatian retail sector.

David Rusňák, co-owner and founder of DRFG, highlighted the higher rental yields in Croatia, ranging between eight and ten per cent, and lower competition from local investors as advantages over the Czech market. Banks are financing 65 to 70% of the acquisition.

This move further diversifies DRFG's geographical portfolio across Central and South-Eastern Europe, following its recent acquisition of the Korzó shopping centre in Nyíregyháza, Hungary.

DRFG's real estate division now manages over 40 commercial properties, primarily shopping and logistics centres, with a total value exceeding €1.11 bn.