Signa Group's Luxury Properties up for Sale: A Glimmer of Hope for the Redevelopment

PeopleOther ♦ Published: February 14, 2024; 17:13 ♦ (Vindobona)

Signa Prime Selection AG, a major player in the luxury real estate market, is currently facing financial difficulties that could now be alleviated by the planned sale of some of its most prestigious properties. Karl-Heinz Götze, the insolvency manager of the credit protection association KSV1870, sees this step as a crucial "piece of the puzzle" for an orderly resolution of Signa Prime's insolvency proceedings.

The furnishings of René Benko's office can be purchased at auction. / Picture: ©

In a decisive step towards financial restructuring, SIGNA Prime Selection AG has announced the start of the structured sale process of its 100% stake in SIGNA Prime Assets GmbH. This notable investment comprises high-profile properties in Austria, including the renowned Park Hyatt, the Tuchlauben in the Goldenes Quartier, and the building at Renngasse 2, which houses the Austrian…