Serbian Tycoon Mišković Loses, Zagreb Resident Juri Radić

The highest bid for the purchase of the ideal half of the land of the Zagreb resident in Heinzelova Street, the most attractive plot in Zagreb, was submitted yesterday to the Zagreb Holding by the Institute of Construction of Croatia, reports the portal vecernji.hr.

 The Institute of Construction of Croatia (IGH), led by Dr. Jura Radić, offered the highest price – 45.6 million euros for the purchase of one half of the ideal part of the Zagreb resident, reported today after the opening of four received bids for the purchase of that property, the President of the Management Board of Zagreb Holding, Ivo Čović, and the head of the Commission for the Sale of Zagreb resident, Ivan Tolić.

Of the four received bids, one was invalid, that of the company HB Reavis Central & Eastern Europe, and of the three valid bids, IGH offered the highest – 45.6 million euros. Ingra d.d. offered 41.2 million euros, while United Europe Investments, a company owned by Serbian tycoon Miroslav Mišković, offered 36.2 million euros.

Tolić stated that they did not conduct a detailed analysis of the bids, but only received them, and announced that a decision on the selection would be made by September 12 at the latest. Čović asserted that the highest price is the only criterion for selecting the buyer if all other conditions are met. He noted that the Management Board of Zagreb Holding established the starting price for the sale of one half of the ideal part of the Zagreb resident at 25.1 million euros, which at that time’s exchange rate was 182.3 million kuna.

Tolić said that after opening the four received bids, they determined that they could not read the bid from HB Reavis Central & Eastern Europe and immediately declared it invalid, deciding that they would neither review nor record it. He added that they offered an amount for the purchase of the entire Zagreb resident.

Čović reminded that in 2001, the City of Zagreb purchased the Zagreb resident for 113 million kuna, and at the beginning of 2008, Zagreb Holding bought it from the City for 251.5 million kuna. The Management Board of Zagreb Holding decided on June 27 of this year to sell one half of the ideal part of the Zagreb resident, and the buyer will be an equal co-owner of that property with Zagreb Holding, each holding 50 percent.

When asked by journalists how the future owner of one part of the ideal half would be registered in the land registry when Zagreb Holding could not, Tolić replied that the tender stated that companies assume the risk and that they could have made an inquiry in the land registry department to see what interests them and assess whether they would apply for the tender.

It was also stated that two companies (Ingra and United Europe Investments) had objections to IGH’s bid, namely that proof of payment of the deposit for the purchase of documentation was not attached. When asked in which country United Europe Investments is registered, Čović said he believes that this will not lead to the selection of that partner, so it is not significant for Zagreb Holding.  (Hina) (www.vecernji.hr)