Real Estate Privatization: Proceeds up to € 1.5bn

Politics ♦ Published: February 16, 2011; 01:03 ♦ (Vindobona)

According to a study, the Austrian government could generate around € 1.5bn from the partial privatization of its real estate company.

Real Estate Privatization: Proceeds up to € 1.5bn / Picture: © Vindobona.org

The business consultancy Ernst & Young calculated the potential proceeds from the sale of the Bundesimmobiliengesellschaft (BIG) at € 1.5bn. The condition is to make a division between marketable and non-marketable properties so as not to sell properties in the areas of debts,  universities, administration and justice. The marketable real estate might be sold in two tranches,…

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