Conwert to Withdraw from CESEE

Professional ServicesReal Estate ♦ Published: March 29, 2014; 15:18 ♦ (Vindobona)

The Vienna-listed real estate group wants to sell its assets in Central, Eastern and Southeastern Europe. The sales proceeds are expected to reach up to € 200m.

Conwert Leaves CESEE / Picture: ©

Clemens Schneider, new CEO of the Austrian real estate group, starts to implement a radical strategy change. Assets in Hungary, the Czech Republic, Slovakia and Ukraine will be sold in the next few years. Schneider wants to achieve the book values at least. The sales proceeds, which are expected to come at € 200m will be invested in new properties in Austria.

“The situation…