NOVA Real Estate
In September 2024, the NOVA Real Estate fund achieved a return of 0.29%, bringing the total
return for the year 2024 to 2.28%.
During these months, an exclusive investor and their advisors are conducting a thorough review
of the portfolio—legal, technical, and commercial. At this moment, the process is proceeding as
planned, with no delays.
Our goal is to continue fulfilling our commitment to investors and to complete the sale of the
portfolio and pay all holders of investment shares by the end of the redemption suspension
period, i.e., by December 29, 2024.
Asset Management:
In the IDEA Office building (formerly A16), a lease agreement has been signed with Media Market
Consulting for approximately 730 square meters of office space. The lease will commence in
January 2025.
We can also confirm the signing of a lease agreement with Action Retail, which will expand its
range in the Orlice Park Shopping Center. Action will take over the space at the beginning of 2025.
We believe that this new concept fits perfectly with the position of this shopping center and will
bring new momentum and additional visitors to the center.
Report NOVA Real Estate
NOVA Green Energy
In recent weeks, we initiated a refurbishment and comprehensive maintenance of the technology section
using central inverters. Most of the repairs have now been completed. This technology has shown minimal
malfunction in the past and, overall, the inverters appear to be in good condition, with only some components
approaching the end of their service life. After refurbishing these components and performing general
maintenance on the inverters, experts in charge of this technology estimate that the inverters will be able to
operate at least until the end of the operational support period for these PV plants.
Similarly to previous years, discussions are underway in the Czech Republic as part of the 2025 budget
proposal concerning potential limitations on operational support for PV plants. It is not yet known whether any
restrictions will be implemented or the extent of potential intervention. However, any action is likely to have a
negative impact on our two fund-operated power plants. We will monitor the situation closely.
In Slovakia, a consolidation package has been approved, which includes the introduction of a so-called
transaction tax, imposing an additional burden on all companies, including our 12 fund companies. This tax is
0.4% (with a maximum of 40 EUR) per transaction. Given the volume and number of transactions among the
fund’s Slovak companies, this impact is estimated to amount to several thousand euros annually, making it
relatively insignificant. Additionally, for companies with revenues over 5 million EUR, corporate tax has
increased from 21% to 24%. None of the fund’s companies in Slovakia meet this revenue threshold, so income
tax for the Slovak fund companies will remain at 21%. Thus, the overall impact of the approved Slovak
consolidation package on the value of fund assets in Slovakia is expected to be minimal.
Sub-fund 2's return for the month of September reached 0.38%.
For the sale of the Hungarian portfolio, we have received several indicative offers for both projects in Hungary,
and clarifying questions are currently being exchanged. A decision on how and with whom to proceed with the
due diligence phase is expected in the coming days. The result of this phase should be binding offers for the
sale of both projects.
Report NOVA Green Energy
