Property group Immofinanz has presented its new residential brand On Top Living during MIPIM, the biggest real estate fair held in Cannes. The company plans to develop up to 12,000 smart and sustainable apartments at affordable prices in the medium term.
The residential compounds will feature modular wood construction units and will include mini lofts, family apartments, and apartments including home office spaces or separate units for guests or care. Furthermore, the homes will come with large-scale photovoltaics, heat recovery, and geothermal energy, while the tenants will also have access to e-charging stations and e-bikes.
Stefan Schönauer, Member of the Executive Board of Immofinanz, said investments in this new division will run into €1 billion in the next 5-7 years.
“In doing so, we also want to resort to an increasing degree of sustainable and social finance. Due to the massive increase in demand by banks and debt investors for sustainable investments, this promotes quick expansion and strengthens the competitive position of Immofinanz,” said Schönauer.
Immofinanz will develop the housing units on top of selected retail parks in its network under the Stop Shop brand. Immofinanz manages a portfolio of around 140 retail parks across ten European countries.
At present, pilot projects for homes are under planning in Vienna (Austria) and Borca (Serbia).
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