Immofinanz to Become a „Property Machine“
CEO Eduard Zehetner wants Immofinanz to become a full developer, operator and seller of top-real estate objects. The company should be transformed to a “property machine.”
Immofinanz to Become a „Property Machine“ / Picture: © Vindobona.org
Zehetner´s idea is to develop standardized real estate objects of the same quality. The company should provide the full range of service from developing, operating and selling high-quality property at the point of full utilization. Objects should be sold at the end of the business cycle, when the real value reaches its maximum level. Realized funds should be re-invested in new projects.
“In Immofinanz´ portfolio there is no single property which we will keep forever.” Zehetner says. Due to capital costs, the minimum yield is 6.5%. In Russia, where market risk is higher, the minimum yield has a double-digit rate, Zehetner explains.
Hungary causes worries for Zehetner: “The country is endangered to be ignored by the international economy.” Nevertheless, Immofinanz will stay in Hungary. New projects are not planned at the moment.