S Immo will further expand its Hungarian portfolio. The company is planning to develop a 40,000 sqm project on the Váci Road office corridor.

S Immo aims to further strengthen its presence in the Central and Eastern European region, including Hungary, the company announced in a press release celebrating 20 years of operation in the Hungary.

Real estate group Skanska says it fully completed the sale of office buildings Campus 6.2 and 6.3 within Campus 6, the complex developed in western Bucharest, in its biggest local deal valued at €97 million.

Immofinanz has issued a response to S Immo’s recent statement in which the company’s officials have clearly expressed their opposition to the takeover offer by Immofinanz published in mid-May 2021.

In a statement, the Management Board and Supervisory Board of S Immo have clearly expressed their opposition to the takeover offer by Immofinanz published in mid-May 2021.

S Immo is ramping up its development activities in CEE with a new office project in Budapest. An ensemble consisting of three office buildings offering roughly 29,000 sqm of usable space will be built on Váci Road, one of the most important office locations in the Hungarian capital. The most significant structure is an 11-storey building located directly on Váci Road. The company plans to obtain sustainability certification according to BREEAM and WELL.

S Immo generated a profit of €56.9 million for the financial year 2020, closing the year well in the black despite the COVID-19 crisis.

Immofinanz announced on 14 March 2021 to launch a voluntary public takeover offer to the shareholders of S Immo to acquire a controlling interest pursuant to section 25a of the Austrian Takeover Act. The offer price per share of S Immo AG has been announced as €18.04 on a cum-dividend basis. Immofinanz announces that the Executive Board and the Supervisory Board of Immofinanz have resolved upon an increase of the offer price to €22.25 on 25 March.

The Management Board and the Supervisory Board of Immofinanz have decided to launch a voluntary public takeover offer to acquire a controlling interest pursuant to Section 25a of the Austrian Takeover Act for all outstanding no-par value bearer shares of S Immo not owned by the bidder.

S Immo AG's Supervisory Board has designated the successor of Ernst Vejdovszky, founding father of the company, whose board term will expire on 30 June 2021, and has newly appointed the Management Team. Dr. Bruno Ettenauer will take over as CEO from 15 March 2021 with a term of three years. DI Herwig Teufelsdorfer will be appointed as S Immo AG's CIO (Chief Investment Officer) and will take up his position on the Executive Board at the latest at the beginning of the second quarter of 2021. The contract of Friedrich Wachernig, MBA as COO (Chief Operating Officer) has been prolonged for a further three years until 30 June 2024.