ARTICLES LABELLED WITH TAG Austria

News CEE hotel investment market continues to boom
06
Mar
2017

CEE hotel investment market continues to boom

by Ákos Budai
The investment volume achieved in 2016 totalled almost €1.2 billion with 46 transactions recorded in core CEE hotel investment markets. In comparison, 2015 reached just over €700 million with 45 transactions. Austria was the star performer with almost €800 million transacted, which made up 67% of the total investment volume. In other CEE markets volume was lower than in 2015 with a particular decline in Poland which more than halved in volume. The Czech Republic accounted for 18% of total CEE investment share; most of the investment took place in Prague which saw 7 transactions including the Hilton Old Town, Park Hotel and Chopin Hotel.
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News Raiffeisen Evolution renamed Strabag Real Estate
16
Jan
2017

Raiffeisen Evolution renamed Strabag Real Estate

by Ákos Budai
Vienna-based developer Raiffeisen Evolution Project Development has been renamed Strabag Real Estate (SRE), the management announced. 
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News Immofinanz delays merger with CA Immo
19
Dec
2016

Immofinanz delays merger with CA Immo

by Ákos Budai
Immofinanz AG has announced a change in the preliminary timetable for the intended merger with CA Immobilien Anlagen AG. The reason is the planned divestment of Immofinanz’s Russian property portfolio, which is a condition for the merger of the two companies. The Executive Board and Supervisory Board of Immofinanz today decided to schedule a longer period than originally considered for the process to separate the Russian properties. The recent stabilisation of the economy in Russia has contributed to this decision. 
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News Immofinanz sells non-core retail portfolio in Austria
19
Dec
2016

Immofinanz sells non-core retail portfolio in Austria

by Ákos Budai
Immofinanz has announced the sale of a smaller Austrian retail portfolio to an Austrian real estate investor and, with this transaction, continues its strategic withdrawal from properties that are not part of the core business. The portfolio covers 88 properties with approx. 108,000 sqm of rentable space in eight Austrian provinces. The parties to the transaction have agreed not to disclose any information on the purchase price. The closing will take place in several steps through the end of 2017. 
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News Transparency is still an issue in the region
08
Dec
2016

Transparency is still an issue in the region

by Ákos Budai
Greater transparency and continuous training pave the way for higher professional standards on the real estate market. More than 100 professionals, from all over Austria and Central & Eastern Europe gathered in Vienna last week to discuss new directions in the profession at the latest RICS event. 
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News Immofinanz completes the purchase of CA Immo shares
02
Aug
2016

Immofinanz completes the purchase of CA Immo shares

by Ákos Budai
Immofinanz has completed the purchase of 25,690,163 bearer shares (representing an investment of approx. 26%) of CA Immobilien Anlagen AG from Terim Limited (Cyprus) and four registered shares of CA Immo from O1 Group Limited (Cyprus). The closing took place today, on Tuesday, 2 August 2016. The purchase price for the package totals approx. EUR 604 million. 
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News Immofinanz and CA Immo announces plan to merge
18
Apr
2016

Immofinanz and CA Immo announces plan to merge

by Ákos Budai
IMMOFINANZ AG announced today that it has entered into an agreement to acquire 25,690,167 ordinary shares that represent ca. 26% of the outstanding share capital and voting rights in CA Immo from O1 Group Limited and Terim Limited. The acquisition is a first step towards a planned full combination of IMMOFINANZ and CA Immo by way of a statutory merger. Prior to the envisaged merger, IMMOFINANZ is planning to demerge or sell its Russian asset portfolio which is characterised by different market dynamics and a higher risk profile.
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Latest news


New leases

  • The Park Warsaw, managed by White Star Real Estate, gained new tenants during Q3 and Q4 2023. The latest leases saw the start of cooperation with companies such as RedNet Property Group, which leased 523 sqm in building B1, Puratos (430 sqm in building B5) and Yokogawa (563 sqm in building B5).
  • New Post International Poland has selected and leased approximately 5,600 sqm of a warehouse with office space in the Logicor Okęcie logistics park in Warsaw. The company operates in the transport and forwarding industry.
  • Efigence, a technology company specialising in the design and implementation of solutions for the financial and e-commerce sectors, has extended its lease of 1,200 sqm of office space at Platinium Business Park in Warsaw's Mokotów district.

New appointments

  • Szymon Zduńczyk has joined the Management Board of Karimpol Poland as of 1st of March, 2024. The former Executive Director has been promoted to Managing Director and Member of the Management Board of the Group's Polish subsidiary. Mr Zduńczyk is the first Pole in the company's history to sit on its Management Board alongside Andreas Prokes and Harald Jeschek.
  • Building on the successes of last year, GARBE Industrial Real Estate CEE is responding by promoting Martin Stratov to the position of GARBE Director for the Czech Republic and Slovakia, Veronika Zacha will be the new Head of Business Development and Construction in the Czech Republic and Jan Hradecky will move to the position of GARBE Project Management Manager for the Czech Republic.
  • Gellért Berkes has been appointed as Head of Property Management at ConvergenCE. He has been a member of the real estate development team for two and a half years. He has nearly 15 years of professional real estate experience.

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