# CEE Property Development Portfolio

CEE Property Development Portfolio B.V. (CPDP) is a closed-end real estate investment fund registered in the Netherlands. It is part of consolidated financial statements of Erste Group's subsidiary Česká spořitelna. In October 2015 Česká spořitelna announced it intends to liquidate the fund.
Since its launch in September 2004 its assets are managed by company CEE Asset Management (CEE AM). CEE AM used to be a subsidiary of real estate development company Sekyra Group managed by Luděk Sekyra, since April 2008 it was owned by Jersey-based CEE ASSET MANAGEMENT LIMITED.
After its incorporation CPDP purchased company Roztyly Centrum, owner of administrative building leased by T-Mobile Czech Republic, and company Gallery MYŠÁK owning a real estate in downtown of Prague. In August 2006 the fund founded a subsidiary CPDP Jungmannova, which in turn acquired from Sekyra Group company Mrázovka II, owning administrative building Golden Cross on Jungmann square in Prague. In April 2007 CPDP acquired 20% stake in project Central Park Praha. In February 2009 the fund subscribed newly issued shares of company CPP Lux and as a result increased its share in project Central Park Praha to 99,9%.
In December 2009 Česká spořitelna recognised a provision of CZK 1.8 billion against its ownership interest in CPDP. In August 2010 daily E15 reported about attempt of CPDP to sell companies from its real estate portfolio.
Subsidiaries of CPDP, brutto equity investment in million CZK :
| subsidiary | share | acquired in | investment | real estate | notes |
| Gallery MYŠÁK a. s. | 100% | 2004 | 307 | building in Vodičkova street in Prague | sold in 2016 |
| CPDP 2003 s.r.o. | 100% | 2004 | 579 | headquarters of T-Mobile ČR in Prague-Roztyly | bank loans gradually decreased from CZK 2.7 bn at the end of 2005 to CZK 1.1 bn at the end of 2023, ownership stake pledged to Česká spořitelna |
| CPDP Polygon s.r.o. | 100% | 2006 | 253 | building in Prague | sold in 2014 |
| CPDP Prievozska, a.s. | 100% | 2006 | 266 | building in Prievozská street in Bratislava | sold in May 2017 |
| TAVARESA a.s. | 100% | 2006 | 34 | sewage and water connections in Prague-Stodůlky | sold in 2013 for approx. CZK 3 mio. to Unistav |
| Campus Park a.s. | 100% | 2006 | 51 | Campus Park Stodůlky | spun off from TAVARESA, sold in October 2016 |
| CPDP Jungmannova s.r.o. | 100% | 2006 | 169 | administrative building on Jungmann square in Prague | sold in 2013 |
| CPDP Shopping Mall Kladno, a.s. | 100% | 2007 | 470 | OAZA Kladno | sold in September 2015 for CZK 13 mio. to Qidong Heng |
| CP Praha s.r.o. | 99,9% | 2007 | 1,038 | unsold flats in project Central Park Praha | declared insolvency in January 2015. |
| ČS Technické centrum s.r.o. | 100% | 2007 | 300 | building in Prague | bought for CZK 300 mio. crowns from Dutch companies Allafon Holding B.V. and Allafon Holding II N.V. owned by entrepreneur Luděk Sekyra, sold to Česká spořitelna in 2010 |
| CPDP Logistics Park Kladno I a.s. | 100% | 2008 | 189 | land plot by Buštěhrad and project | liquidation completed in September 2017 |
| CPDP Logistics Park Kladno II a.s. | 100% | 2008 | 182 | land plot by Buštěhrad and project | liquidation completed in September 2017 |
| Total | | | 3,837 | | |