From Media: State Real Estate company achived record-breaking business revenues from property management in 2023

Državne nekretnine achived record-breaking business revenues of €16.8 million from property management in 2023, marking a 7.6% increase compared to the previous year. Successful management of residential and commercial properties resulted with total revenues of €20.8 million for the past year and represents a 19% annual increase, with a net profit of around €4 million.

The revenue growth is the result of improved efficiency in receivables management and collection, an expanded portfolio, and the recognition of some income from EU-funded property investments. Also is 2023 the company’s property portfolio significantly expanded following the enactment of the Law on the Management of State-Owned Real Estate and Movables. By June, the company was managing over 12,000 properties.

“We successfully managed properties in 2023, and driven by these results and our previous efforts, we have entered 2024 optimistically and rapidly, considering the new legal requirements that now include sales and dissolutions in addition to our existing tasks. We expect to offer around 200 commercial spaces for lease this year and prepare the first 50 properties for sale and dissolution,” said Mirela Habijanec, Board Member and CEO of Državne nekretnine.

Read the full article in the Dubrovnik Times.

Published 4. July 2024.