Državne nekretnine LLC records business growth with a 10.9% increase in total revenue in 2025

In 2025, Državne nekretnine LLC recorded business growth alongside increased efficiency in the management of state-owned assets. Total revenue reached EUR 27.1 million, representing a 10.9% increase compared to the previous year, while net profit amounted to EUR 8.6 million, or 6.3% increase compared to 2024.

Portfolio growth and active asset management

At the end of 2025, Državne nekretnine managed approximately 12,900 properties, representing a 4.6% increase compared to the previous year, with a notable 8.2% growth in commercial premises, which generate most of the Company’s revenue. During the year, 1,253 properties were added to the management portfolio, while a total of 795 agreements were concluded, with a combined annual value of nearly EUR 9.2 million. Of these agreements, 442 refer to commercial lease agreements, 256 to residential tenancy agreements, and 97 to property disposal through sales and co-ownership dissolution procedures. The number of concluded agreements increased by 80% compared to 2024, confirming strong momentum in activating state-owned assets and ensuring continuous portfolio management.

In line with the announced priorities for 2025, the Company achieved visible progress across key management segments. In the commercial property segment, market activities continued through the implementation of 10 public tenders for leasing commercial premises, offering 250 properties and receiving 520 bids. Activities in the residential segment focused on national housing policies through the preparation and activation of vacant and suitable state-owned apartments for the implementation of the Statileo programme and the affordable housing programme.

At the same time, through five public tenders for property sales and procedures for the dissolution of co-ownership communities, the Company continued the portfolio optimisation process, namely the sale of properties that are not considered strategically beneficial for the Republic of Croatia.

Upward trend in collections and financial stability

In 2025, the Company achieved further progress in financial discipline and the collection of receivables arising from the use of properties under its management. A total of EUR 23.6 million was collected, representing a 14.7% increase compared to the previous year, while the collection rate increased to 86%. Particularly noteworthy was the 16.8% increase in collections in the commercial premises segment compared to the previous year, clearly indicating improved revenue control and more efficient management of the system.

Državne nekretnine continues to maintain a highly stable financial position, operating without credit indebtedness, while maintaining a high level of liquidity and recording continuous growth in capital and reserves of 15.9%. This confirms the resilience of the business model and enables further development without additional financial burden. At the same time, the 15.4% increase in expenditures was a direct consequence of expanded business operations, a larger number of properties under management, and intensified operational activities, including investments in the portfolio and strengthening the Company’s human resources. During 2025, EUR 3.8 million was invested in properties under management, alongside the further strengthening of operational capacities and management systems.

The company continues to bring the properties under management to their intended purpose and activate them in line with the Company’s annual plans and national strategic plans, while maintaining the operational dynamics of managing approximately 13,000 properties within an open portfolio that continues to expand through the addition of new assets.

Published 3. June 2026.