Croatian Fortenova Group Successfully Sells Off Zagreb’s Cibona Tower

Lauren Simmonds

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As Poslovni Dnevnik writes, the Croatian Fortenova Group and the Agram concern have signed an agreement on the purchase and sale of real estate previously owned by the Croatian Fortenova Group within the Cibona business tower in the heart of the City of Zagreb. This regards office spaces spanning the sixteen floors of this well known tower and a garage space, which makes a total of about 6700 square metres. According to the contract, the purchase price will remain a trade secret.

According to the press release, the Cibona Business Tower is one of the most representative business buildings in all of Zagreb. It is located in the centre of the city, in a prestigious and easily accessible location, and from the moment it was built for the Universiada back in 1987 as part of the sports hall complex, it has become one of the city’s most recognisable symbols.

“After mostly concluding the sales processes of companies that are not part of our parent business, we focused on the sale of real estate that isn’t part of the core business. We are pleased to have found a partner in a very short time who, I’m sure, will provide the necessary investment for this very well-known building,” said James Pearson, the CEO of Fortenova’s Finance Group.

“The Cibona tower is an iconic building of the City of Zagreb and fits perfectly into the real estate portfolio of the Agram concern. Recognising this investment opportunity, we’re going to continue to invest in the domestic economy, and this acquisition also goes hand in hand with the 30th anniversary of the successful operation of the Agram concern,” said M.Sc. sc. Ivana Bratanic, Vice President of the Agram concern.

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