ARTICLES LABELLED WITH TAG Austria

According to the latest RICS Commercial Property Monitor, occupier and investment sentiment remains mostly positive across main CEE markets with the exception of Bulgaria where the outlook is slightly negative. Retail continues to suffer across the region as demand for retail assets fell on both the occupier and investment sides of the market in most countries.

Erste Group Bank AG has appointed Patrick Zehetmayr to head the banking group’s commercial real estate business, which encompasses non-residential activities at both the stock-listed company’s holding level and at Erste Bank Oesterreich, the group’s Austrian subsidiary. In his new role, Zehetmayr is responsible for the group’s commercial real estate coverage and financing activities, as well as for the real estate leasing business of Erste Group Immorent (EGI), whose supervisory board he chairs.

CA Immo has tapped the Eurobond market for the first time and successfully placed a €500 million fixed rate senior unsecured benchmark bond with a 7-year maturity and an annual coupon of 0.875% on 28 January 2020. The bond will trade on the Official Market of the Vienna Stock Exchange. The international rating agency Moody’s Investors Service Ltd. has assigned an investment grade rating of Baa2 to the bond.

Christie & Co recently launched their new report focusing on the hostel markets in Vienna, Prague and Budapest. The report shows an overview of the business model itself, key characteristics, the evolution of the hostel concept and gives a deeper insight of the mentioned markets: Vienna, Prague and Budapest, in terms of demand, supply and especially branded supply.

Ikea plans to open a new furniture store in central Vienna, next to the Westbahnhof railway station with no parking place for cars. The construction works started in January 2020 and will be finished by next year.

During their 7th CEE Annual Meeting held at the British Ambassador’s Residence in Vienna, RICS announced the new Advisory Board for Austria, which will be responsible for implementing RICS’ strategic goals locally and will work closely with key stakeholders in Austria.

The Executive Boards of S Immo and Immofinanz decided to end their discussions over the possible combination of the two companies. This decision was based, in particular, on the inability to reach an agreement over a possible exchange ratio.

CA Immo has successfully disposed of its 4,483,453 shares in Immofinanz representing approximately 4.0% of Immofinanz’ issued share capital by way of an accelerated book-building offering to institutional investors. The aggregate value of the remaining stake was approximately €111 million.

According to the latest RICS Commercial Property Monitor, CEE countries – most notably the Czech Republic, Hungary and Romania – are still global leaders in occupier and investment sentiment. The Central European region’s most mature market, Austria is on a different path, however, with respondents reporting a broadly flat outlook.

Hosted by RICS in Austria, the 6th Annual RICS CEE Event, held at the British Ambassador’s Residence in Vienna, aimed to answer a number of questions related to the future of the profession and presented how RICS, a solution leader in the real estate sector, helps professionals become well-equipped to meet challenges of the 21st century.