ARTICLES LABELLED WITH TAG Radovan Vítek

News Change of guard in CEE: The birth of a €20 billion empire
11
Feb
2022

Change of guard in CEE: The birth of a €20 billion empire

by Nicolae Ovidiu
Czech businessman Radovan Vítek has amassed a fortune estimated at around €4.1 billion while increasing his influence in the European property sector. Vítek holds firm control of CPI Property Group, the company he founded with assets topping €11 billion and has gradually built majority stakes in Globalworth and Immofinanz, both competing groups in Central and Eastern Europe. By purchasing controlling participations in these companies, Vítek could build his property investment empire across CEE to the tune of around €20 billion and 7 million sqm of developed space, covering every country and asset class in the region. This story is a prime example of the rise and strength of local capital in CEE, in addition to the gradual decline of influence held by Austrian companies over the region.
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