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Vienna International Real Estate Market and Property News
Read the latest headlines about developments in Vienna's and Austria's real estate industry and property market
conwert Interested in Billion-Euro Deal with LBBW
The Austrian real estate company is looking for partners to purchase the residential property portfolio of the German bank. Industry experts see a realistic chance for an acquisition.
June 20, 2011
CA Immo: Uniform Brand Appearance also in Germany
In the future, the Austrian real estate group’s German subsidiary Vivico Real Estate GmbH will operate under the brand "CA Immo".
June 20, 2011
Atrium and Meinl Bank Agree to Stop All Legal Proceedings
The American-Israeli real estate fund and the Austrian bank reached a settlement agreement on the dismissal of all claims between them.
June 17, 2011
Immofinanz Acquires Romanian Property Developer
The Austrian real estate company buys the remaining stake for € 42.43m in order to become sole shareholder of Bucharest-based Adama.
June 16, 2011
Immofinanz Acquires Office Property in Warsaw
The Austrian real estate company already held 51% of the property and is now becoming the sole shareholder. The transaction includes the sale of another object to a project partner.
June 10, 2011
Immofinanz Sells Funds for € 137m
The Austrian real estate group decided to sell its financial investments as it is focusing on its core business. 18 funds worth € 160m are still held by the company.
June 8, 2011
Immofinanz Considering Listing in Warsaw
The Austrian real estate group would be interested in a listing if red tape were reduced. It is currently looking for acquisition opportunities in Poland and Russia.
June 7, 2011
CA Immo Starts Work on Shopping Center in Frankfurt
The Austrian real estate group and its joint venture partner invest € 360m into the project. The opening will take place in fall 2013.
June 1, 2011
Immofinanz Sells Office and Retail Property in Vienna
The Austrian real estate group sold a property located at Simmeringer Hauptstraße in Vienna to HIH Global Invest GmbH for € 29.2m.
May 30, 2011
Warimpex: First-Quarter Loss Widens
The Austrian real estate company’s loss increased from € -0.7m to € -3.0m in the first quarter of 2011. EBIT fell from € 2.9m to € -0.3m.
May 27, 2011
CA Immo: Initial Consolidation of Europolis Prompts Sharp Rise in Earnings
The figures for the first quarter of 2011 show a strong rise in earnings following the inclusion of Europolis into the consolidated accounts of the Austrian real estate group.
May 25, 2011
CA Immo Sold Two Shopping Centers in the Czech Republic
The Austrian real estate group and a Czech investor agreed on the sale of two malls for an amount of € 96m.
May 24, 2011
Conwert Announces Strong Growth in Revenues in the First Quarter of 2011
The Vienna-based real estate company records a good business development and a 24% increase in EBIT.
May 20, 2011
Atrium: 50% Decline in Pre-Tax Profit
Despite a growing rental income, the real estate company’s profit before taxation decreased from € 46.3m to € 26.4m.
May 18, 2011
Declining Sales at UBM
The Austrian real estate company hat do report a decline in sales of 15%. However, profits rose slightly.
May 13, 2011
Strong Decline in Eco Business Sales and Earnings
The net result was positive with € 1.1m, but it fell in comparison with the same period of the previous year by 68%.
May 13, 2011
German IVG is also Active in Austria Now
IVG Immobilien AG (IVG), the largest German real estate fund company, acquired the Austrian Hypo Real Invest in January 2011, changing its name to IVG Austria AG, with headquarters in Vienna.
May 12, 2011
Immofinanz Closes Acquisition in Moscow
The Austrian real estate group takes over 100% of the GoodZone.
May 11, 2011
Atrium Strengthens Polish Portfolio
Atrium European Real Estate announces that it has completed the acquisition of the Promenada Shopping Centre (“Promenada”) in Warsaw, Poland for €171 m from Carpathian PLC.
May 9, 2011
Austria's Shopping Centers are Growing, but Not Getting More Productive
The productivity per area of the shopping centers in Austria shows a mixed picture according to a RegioPlan analysis.
May 6, 2011
Immofinanz takes over 100% of Zagreb’s Grand Centar
Immofinanz acquired the remaining 20% stake in the Grand Centar in Zagreb through its subsidiary Immoest Allegro. This stake was previously held by Generali Immobilien AG.
May 5, 2011
Immofinanz Strives for Presence in Russia
The Austrian real estate group plans to expand its activities further through the purchase of shopping centers in Moscow.
May 3, 2011
Vienna’s Real Estate Market is Booming
With the third quarter of 2010, the trend started to reverse for the Viennese real estate market. Property is booming again, rental real estate loses demand.
April 28, 2011
Zehetner Remains CEO at Immofinanz
The Supervisory Board of the Austrian real estate company extends Executive Board contracts for Eduard Zehetner and Daniel Riedl.
April 28, 2011
Warimpex to launch a Private Placement of Convertible Bonds
The Austrian real estate company intends to issue convertible bonds amounting to € 29.73m at the Warsaw Stock Exchange in order to "enhance financial flexibility".
April 20, 2011
Austria Fell for the First Time in the International Property Rights Index
The IPRI compares 129 different countries for their economic benefits in strong protection of land, intellectual property and other private property.
April 15, 2011
Sparkassen Immobilien AG: Significant EBIT Improvement
The real estate group announced its annual results for 2010. EBIT for the year ended as at 31 December 2010 improved by more than € 110m to € 60.5m.
April 15, 2011
Immofinanz Opens Tenth Retail Park in Slovakia
STOP.SHOP., an Immofinanz Group umbrella brand for specialty shopping centres in Central Europe, continued its growth course with today’s opening of the tenth retail park in Slovakia.
April 15, 2011
Rising Real Estate Returns in Austria
Institutional investors could achieve an average total return of 5.9% (before tax and finance) in Austria in 2010 with directly held real estate.
April 15, 2011
Schlumberger Takes Over Distribution of Evian and Volvic
The Austrian sparkling wine producer considers this cooperation a "strategic expansion of the beverage competence by means of international Danone water brands".
April 5, 2011
Immofinanz Announces Improvement in Results
The Austrian real estate company publishes its Q1-Q3 resuls for 2010/11. Revenues and net profits grew moderately.
March 31, 2011
conwert Announces Augmenting Operating Results
conwert Immobilien Invest SE, listed on the Vienna Stock Exchange, reported a strong operating result in the financial year 2010. Dividends will be increased.
March 24, 2011
Higher Profits for UBM Despite Lower Production in 2010
Vienna Stock Exchange listed UBM Realitätenentwicklung AG achieved higher profits in 2010 despite lower production. Dividends are to be increased by 10%.
March 23, 2011
Eco Business Back in Black
The Austrian real estate company records a fivefold increase in Group EBIT to € 25.0 m for the first three quarters of 2010.
March 22, 2011
Atrium Reaches Turnaround
The real estate company recorded positive net earnings in 2010. Profits amounted to € 111.06m.
March 12, 2011
Significant Rise in Earnings for CA Immo
The Austrian real estate group benefits from the clearly improving business climate, especially regarding the investment market for real estate.
March 10, 2011
Immofinanz: New Tenants for Romanian Procect
The Austrian real estate group wins attractive international brands as tenants of its Romanian Maritimo Shopping Center in Constanta.
March 9, 2011
Signa Holding Invests More than € 1.00bn
The Austrian real estate holding company conducted by Rene Benko intends to put strong effort into further growth.
March 7, 2011
Immofinanz: Bookbuilding for the New Convertible Issue Starts
The Austrian real estate company Immofinanz AG announced its intention to issue new convertible bonds due 2018.
March 4, 2011
Real Estate Privatization: Proceeds up to € 1.5bn
According to a study, the Austrian government could generate around € 1.5bn from the partial privatization of its real estate company.
February 16, 2011
Bizarre Allegations of Meinl against Atrium
The ongoing conflict between the Austrian bank and the US-Israeli real estate fund shows new and unusual facets.
February 16, 2011
Productivity of Shopping Centers is Stagnating
A RegioPlan study shows that only 30 of 70 surveyed Austrian shopping centers have increased their productivity.
February 10, 2011
Atrium Terminates Trust Agreements with Meinl
The US-American/Israeli fund Atrium terminates trust agreements with the Austrian Meinl Bank AG under the 2003 and 2005 bonds due to “important reasons”.
February 3, 2011
Atrium European Real Estate Announces Credit Rating Update
Atrium European Real Estate Limited a real estate company owned by Citigroup/Gazit, is placed on CreditWatch Negative.
February 2, 2011
Atrium: "Meinl Exploited its Position as a Trustee”
After the repayment of the convertible bond to the Austrian Meinl Bank, the real estate funds considers the calling as "blatant unlawfulness."
February 1, 2011
CA Immo: „Bid of UniCredit too low“
UniCredit intends to increase its stake on the Austrian CA Immo up to 29%. The board regards the bid of € 12.35 per share as being “too low”.
January 30, 2011
Meinl Bank to Cancel Previously Scheduled Bondholder Meeting
According to Atrium, a US/Israeli real estate company, circumstances causing a cross-default event do not subsist anymore.
January 29, 2011
Meinl Bank Continues to Claim Default of Atrium
Meinl Bank: „Atrium zahlt Meinl Bank states: "Contrary to their own announcement Atrium is not paying back the 10.75% convertible bond". Cross default risk remains upright
January 28, 2011
A Quiet Year for the Shopping Center Industry
Only a few large projects will be tackled in 2011 by Austria's shopping center industry; renovation of existing facilities rather prevails.
January 27, 2011
Suspicion of Insider Trading against Immofinanz’s CEO
The Austrian Financial Market Authority (FMA) is investigating Eduard Zehetner on suspicion of insider trading, according to the magazine "Profil".
January 25, 2011
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