Real Estate Industry

S&P: More Funds For KA Finanz

Austrian major banks are performing weakly. Risks increase in CESEE countries. S&P also warns of real estate bubble in Vienna.

April 18, 2013

RBI to Take Over Bank of Cyprus Affiliate?

The Bank of Cyprus has split up with the assets of its Romanian affiliate. Apart from RBI, Banca Transilvania is a potential buyer.

April 18, 2013

Slovenia to Emerge From Quagmire By Itself?

A recent report by the OECD paints a dim picture of the country’s economic future.

April 17, 2013

Austria: Three Convictions at Immofinanz Process

Former head of Immofinanz, Petrikovics, was sentenced to six years in prison. Co-defendants Schwager and Thornton were sentenced as well.

April 12, 2013

Conwert to Increase Capital Up to 50 %

Management wants to be given go-ahead from shareholders at the next general meeting for the increase of capital of up to 50 %.

April 10, 2013

Immofinanz to List in Warsaw

Real state corporation Immofinanz wants to list their shares on the Warsaw stock exchange.

April 9, 2013

Cyprus: Prone to Recession

Despite of the bail-out package, the country is threatened by a deep recession in the coming two years.

April 3, 2013

Cyprus: Anastasiades Comes Under Suspicion

President Nikos Anastasiades is in dire straits as he is accused of having transferred huge amounts of money to foreign countries and having warned relatives. In the meantime, the austerity package is almost set.

April 2, 2013

Cyprus: Trying to Avoid Chaos at Banks

Today, Cyprus‘ banks are supposed to be opened after almost two weeks of closing. The citizens are called for calm and there are limits for drawing money. The currency rate was downgraded to Caa2 by Moody’s.

March 28, 2013

Austrians Poorer Than Italians or Spaniards?

According to a study carried out by the German Central Bank (Bundesbank) assets of private households in Austria is less than in Italy or Spain.

March 22, 2013

Immofinanz Group Reveals Less Profit

Operating profit (EBIT) reduced by € 47.9m to € 444.7m. Decline in net profit from € 269.4m to € 210.1m. Cash flow rose by 8.9% y/y to € 315.3m.

March 21, 2013

CA Immo: „Results Would Have Been Perfect“

CEO of CA Immo, Bruno Ettenauer, proclaims that without devaluations the real estate company had to make the end results for 2012 would have been “perfect”. Now, CA Immo considers withdrawing from non profit-making markets.

March 21, 2013

Conwert: Profits in 2012 Negatively Effected

Target EBT of € 50m was met. Revenues dropped by 26.7 % y/y from € 852.9m to 625.1m. Earnings before tax amounted to € 154.6m. Outlook: conwert plans to gradually expand core business in Germany and Austria.

March 21, 2013

CA Immo: Major Drop in Profits

On Tuesday evening, CA Immo published the annual figures for 2012. The market-listed real estate company shows profits of € 48.6m which means a decrease of 28 %.

March 20, 2013

Austria: Meinl‘s Bail Money to Be Reduced Significantly

According to the Higher Regional Court (OLG) in Vienna, Julius Meinl is to receive € 90m of his bail money back.

March 19, 2013

Austria: Increasing Demand in Flats

Half of the required flats in Austria are missed in Vienna. Experts have long forcasted the growing need in newly constructed buildings particularly in the city centers.

March 18, 2013

Improvement on the Czech Commercial Real Estate Market in Sight?

Bank Austria sees anti-cyclical investment opportunities in the Czech Republic and CEE. The Czech Republic offers a low country risk and transparent real estate market.

March 13, 2013

S Immo AG: New Contracts in Bucharest and Sofia

New tenants in Serdika/Sofia and Sun Offices/Bucharest. Stock exchange listed S IMMO AG has again achieved letting successes in Romania and Bulgaria – two markets that continue to be economically challenging.

March 12, 2013

Serbia: Number of Dwellings Rose Substantially

Today, the Serbian Statistical Office has published the Census of Population, Households and Dwellings.

March 8, 2013

Hungary: Percentage of Foreign Direct Investments in Decline

Foreign Direct Investments in 2012 was 5.2 % less than in 2011. According to the statistical central office in Hungary (KSH), the drop in the last quarter showed even -7.9 %. Massive declines in almost all sectors.

March 4, 2013

Austria: “Short Supply on Real Estate Market”

Demand is expected to remain high for residential real estate in 2013. Supply is lingering behind demand particularly in locations where business is strong, Bank Austria reports.

February 27, 2013

Stavros Efremidis New Executive Director of conwert

Stavros Efremidis is responsible for conwert’s operating business in Germany as Executive. Thomas Doll, Executive Director and CFO of conwert, is responsible for the operating business in Austria and CEE.

February 20, 2013

Immofinanz Withdrawsfrom Swiss Hotel Market

The Austrian real estate group sells Kempinski Residences and Hotel as well as the Grand Hotel in St. Moritz.

February 18, 2013

Immofinanz Withdraws from the Tender for GBW AG

The Austrian real estate group has withdrawn its non-binding offer for the purchase of the tendered shares in GBW AG, Munich, and informed the seller, Bayerische Landesbank, of this decision on 13 February 2013.

February 13, 2013

Estonia: Real Estate Transactions Up by 12%

According to Statistics Estonia, in 2012, 36,176 purchase-sale transactions of real estate in the total value of 1.7 billion euros were notarised.

February 12, 2013

Erste Group Finances Major Slovak Real Estate Project

Erste Group’s Slovak subsidiary co-refinances City Business Centre in Bratislava with EUR 34.5 million.

February 11, 2013

CESEE Office Market Shows Solid Fundamentals

CESEE office market is undergoing a stable development; rental levels remain largely solid in most of the region, Erste Group says.

February 11, 2013

Investments: Austrians Become More Cautious

From the perspective of savers, the economic uncertainties are growing. Due to the negative real interest rate, traditional investments lose in popularity.

February 9, 2013

Slovak Property Market Recovers

For the first time since 2008, property prices were up in the fourth quarter of 2012.

February 6, 2013

Austria: Residential Building Is „Much too Low“

In the next years, Austria faces a remarkable housing shortage, the Austrian Chamber of Labor (AK) warns.

February 5, 2013

Immofinanz Continues Sales in Vienna

The Austrian real estate company continues the implementation of its real estate sales programme. Besides that, Immofinanz decides to leave France.

February 4, 2013

Property Market: Baltic Countries Against the EU Trend

Third quarter 2012 compared with third quarter 2011: Euro area house prices down by 2.5%.

January 31, 2013

Vienna Suffers from Housing Shortages

In the next 20 years, Vienna will need up to 200,000 new accommodation units.

January 23, 2013

Conwert Finishes Major Investment

The Austrian real estate company closes the acquisition of majority interest in KWG Kommunale Wohnen AG.

January 21, 2013

Immofinanz: New Projects in Berlin

Purchase of a 3,000 sqm property for the realisation of 100 flats in the Charlottenburg-Wilmersdorf district of Berlin. 1,500 new flats in Berlin in construction or in planning.

January 21, 2013

Conwert Announces Strategic Asset Refocusing

According to preliminary figures, the EBT guidance of € 50 million has been achieved in 2012 before one-off effects. Strategic refocusing leads to negative one-off adjustments

January 18, 2013

CA Immo to Focus on Germany and Austria

Following years of rapid expansion in Germany and Eastern Europe, CA Immo is adjusting the focus of its real estate portfolio to existing core markets and the offices asset class.

January 17, 2013

Benko Establishes Joint Venture with Israeli Investor

The Austrian real estate investor René Benko has found a partner. The joint venture will focus on commercial properties in Germany.

January 16, 2013

Austrian Property Market Becomes Even More Attractive

According to a survey carried out by the business advisor Ernst & Young, about 90% of the interviewees think that Austria´s real estate market is attractive.

January 15, 2013

Austrians Still Prefer Traditional Investments

According to a survey carried out on behalf of the investment fund Fidelity Worldwide Investment, Austrians tend to conservative investments.

January 14, 2013

BUWOG to Strongly Expand Business in Berlin

Germany remains motor of growth for the Austrian real estate company. The subsidiary of Austrian Immofinanz acquires properties with 34,500 m² total space for 520 flats.

January 10, 2013

Good Outlook for Viennese Property Market

According to real estate experts, Vienna is one of the most attractive market for retail investments.

January 8, 2013

Immofinanz Sells Offices in Prague

As of 31 December 2012 Immofinanz Group sold the office building BB Centrum Building C located in Prague to the VIG FUND.

January 7, 2013

Austrian Real Estate Prices Flatten

Although real estate supply is shrinking slightly, the price curve flattens. Real estate prices are expected to increase by 2.8% this year.

January 4, 2013

conwert acquires majority stake in German KWG

Acquisition of approx. 60% stake in German residential property company with 9,700 units. Purchase price of approx. 620 € / sqm.

December 21, 2012

Immofinanz: Drastic Profit Decrease

Group generated solid operating results in the first half of the 2012/13 financial year. EBIT was down slightly, however.

December 19, 2012

Immofinanz: Increasing Rental Income Ahead

Tomorrow, the Austrian real estate group Immofinanz will publish its results for the first six months.

December 19, 2012

Immofinanz: Expansion into Germany

The Austrian real estate company intends to deploy treasury shares to obtain bank financing in order to continue the expansion into Germany.

December 17, 2012

CA Immo Expands Into Berlin

The real estate company CA Immo has reported the letting of around 6,800 sqm of office space in relation to another development project in the Europacity district of Berlin.

December 13, 2012

Immofinanz Develops New Project in Poland

The Austrian real estate company expands activities in Poland: Start of construction on Nimbus office development project

December 13, 2012
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