S Immo has announced the sale of HOTO Business Tower in Zagreb for an undisclosed sum. The project is located on the south-western edge of the central business district of the Croatian capital and comprises a total leasable area of around 15,500 sqm.
The sale is in line with the group's strategy of gradually withdrawing from the Croatian office market.
Tomáš Salajka, member of S Immo’s Management Board, said HOTO Business Tower was the company’s last property in Zagreb. “With the sale, we have now completely exited the Croatian market,” said Salajka. He added that the proceeds from the sale will be used for investments in S Immo’s other core markets.
