Ringier takes over online platform in Croatia

Ringier subsidiary Xmedia AG has acquired a majority stake in Foto-Nekretnine d.o.o., which operates real estate platforms in Croatia and Serbia

Foto-Nekretnine d.o.o. was established as an online company in 2004. Today, ten employees are operating two online platforms, www.foto-nekretnine.hr in Croatia and www.foto-nekretnine.rs in Serbia. With an average of 25,000 offers the Croatian platform covers around 70 percent of the Croatian real estate supply. The platform is visited by an average of 150,000 users per month; last year alone the number of visitors has tripled. The company also publishes a 200-plus page real estate magazine in Croatia. With its online and print services Foto-Nekretnine is the leading player in this segment of the Croatian market.

With 5,000 visitors per month the platform in Serbia, which has only been active since 2008, has also enjoyed an upbeat start.

Ringier has acquired a stake of around 70 percent in Foto-Nekretnine d.o.o. (formerly Emiko d.o.o.), with the remaining 30 percent of shares to be taken over by the end of 2010. Following the launch of its business activities in Croatia, Ringier now has operations in ten countries across Europe and Asia.

Ringier Group Communications