News Article Czech Republic expansion Hungary investment Poland REICO
by Ákos Budai | Investment

ČS Real Estate fund, the largest and oldest Czech open-ended property fund, managed by REICO, has announced its intention to expand its acquisition programme to Poland and Hungary. 

The fund has so far invested CZK13.7 billion (€507 million) in Czech real estate. According to a press release, its new strategy has been prompted by a lack of suitable product – such as high quality office and shopping centre properties – on the Czech market. This year the fund acquired Amazon’s Slovak HQ, the 13,200 sqm Park One office building in Bratislava, for app. CZK960 million (€35.6 million) from private investment firm Falcon II Fund – bringing its total portfolio up to eleven buildings in the Czech and Slovak Republics, with an estimated value of CZK12 billion (€444 million).
“We intend to focus on high-end property, such as City Tower and Trianon in Prague, and also on some retail properties in the future. Although for us the Czech Republic remains our focus, we are beginning to look around the wider region,” explains the CEO of REICO, Filip Kubricht. "The vast majority of our portfolio consists of office buildings. They remain the priority for us, but we want to broaden our scope as well. I can imagine investing in high-end real estate on the most expensive shopping streets, for example, in Warsaw or Budapest,” he adds.