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Real Estate Industry
CEO of PlusCity Increases Engagement in Croatian Westgate
Ernst Kirchmayr, CEO of the Upper-Austrian shopping center has raised his stake in the Zagreb-based shopping center “Westgate”.
February 8, 2012
CA Immo Brings an Action Against Grasser
The former Minister of Finance, Karl-Heinz Grasser, faces a lawsuit by the Austrian real estate company. CA Immo claims € 200m.
February 7, 2012
Austerity Package Takes Form
Although negotiations over the austerity package are not finished, first details are already known.
February 7, 2012
Conwert Continues Streamlining Operations
The Austrian real estate company continues to advance optimisation of sales activities. The distribution subsidiary Resag will be re-organized.
February 3, 2012
Austerity: Unions Versus Industrialists
The Austrian trade unions want to impose property taxes, the Federation of Austrian Industries seeks cuts in spending.
January 21, 2012
Berlin as New Growth Market for CA Immo
In 2012, the Austrian real estate company plans anInvestment volume of about € 300 m in Frankfurt and Berlin.
January 17, 2012
Immofinanz Repays € 77.6m in Convertible Bonds
The Austrian real estate group announces the end of the put period for premature redemption of the 2014 convertible bond.
January 11, 2012
CA Immo Completes Tower 185 Project in Frankfurt
Rental premises in the tower were simultaneously handed over to PwC, the principal tenant. The total investment in Tower 185 stands at approximately € 450m.
January 11, 2012
CA Immo Secures Refinancing for Project in Budapest
The Austrian real estate company CA Immo has agreed on refinancing for an office building in Budapest with Bank Austria. The investment totals € 27.0m.
January 10, 2012
Immofinanz Closes Leasing Contract With Leonardo Hotels
The Austrian real estate group enters an agreement with the German subsidiary of the Israeli Fattal International Hotel Chain.
January 9, 2012
Real Invest Austria Sees “Strong Growth”
Real Invest Austria, a subsidiary of Bank Austria, has over € 1.7bn under management. Outlook for 2012: Further expansion of real estate assets planned.
January 9, 2012
Real Estate Prices Still on the Rise
Rents were up by 2.7% in Vienna. Property prices rose by 2.2%. A further increase is expected.
January 2, 2012
CA Immo, Warimpex and UBM Open Airport City St. Petersburg
The Austrian real estate companies concluded the first phase of the office building and hotel project in direct vicinity of St. Petersburg’s Pulkovo 2 international airport.
December 23, 2011
Immofinanz Reports Outstanding Results
The Austrian real estate group going strong in the first half of 2011/12: Group result has more than doubled compared to the previous year. Net Profits are up by 145%.
December 20, 2011
Rise in Profits Expected for Immofinanz
Tomorrow, on Tuesday, the Austrian real estate company presents its results for the second quarter. EBIT should rise significantly.
December 19, 2011
Real Estate Boom in Austria
Property prices rose by 5.0% over the last two years. An end of the boom is currently “not in sight”, says the real estate industry.
December 14, 2011
Building Saving: Financing Becomes more Difficult
In Austria, 45,000 new apartments are needed, causing finance requirements of € 8.8bn. Meeting this demand becomes harder.
December 14, 2011
Kaufhof: Investigations Cause Delay in Sale Process
Suspicions of money laundering against the Austrian real estate investor René Benko prevent the take-over for the time being.
December 13, 2011
Immofinanz Sells Project in Germany
The Austrian real estate group sells its stake in a project in Düsseldorf in order to grow in Russia and Poland.
December 12, 2011
Atrium Completes Acquisition of Shopping Centre in Poland
The Vienna-listed real estate company Atrium finished the acquisition of a € 55m project in the seventh largest city in Poland.
December 12, 2011
Kaufhof: Benko Offering € 2bn?
The Austrian investor decisively rejected reports that suggested this acquisition price. Metro’s CEO wants to obtain € 2-3bn.
December 8, 2011
Benko Confirms Binding Offer
Both Metro Group and René Benko´s Signa Holding confirmed that a binding offer for Metro´s subsidiary Kaufhof has been put.
December 6, 2011
Immofinanz-CEO Zehetner Expects Reduced Finance Costs
Due to lower interest rates and depreciations of foreign currencies in the CEE region, the Austrian real estate company will have low refinance costs, Zehenter says.
December 5, 2011
Major Job Cut at Hypo Group
A spokesman from the Austrian Hypo Alpe Adria confirmed plans for further layoffs. In the medium run, the bank wants to reduce staff by 500 posts at least.
December 5, 2011
S Immo Announces Changes in Shareholding Structure
The Austrian real estate company S Immo clarifies that the two core shareholders still remain in S Immo and hold a threshold beyond 9% each.
December 3, 2011
Volksbanken Group Takes Back Restructuring Decisions
The Austrian group cancelled the planned spin-off of its banking operations due to the deterioration of the market environment.
December 1, 2011
Wiedeking Joins Benko’s Signa Holding
The German manager becomes a member of the Austrian real estate group’s advisory board.
November 30, 2011
Immofinanz Refinances Shopping Center in Poland
Two German banks arranged a € 210m facility for the Austrian real estate group’s Silesia City Center in Katowice.
November 29, 2011
Warimpex Records Negative Result
The Austrian real estate company posted a loss of € 2.8m in the first nine months of the year despite a 10% increase in revenue from hotel operations.
November 29, 2011
Benko Puts Pressure on Kaufhof
The Austrian real estate investor René Benko presents his growth program and wants to outbid his rival, the U.S. investor Berggruen.
November 28, 2011
Investigations Against Benko
The Austrian real estate investor Benko is suspected for money laundering. Benko denies and sees a link to the Kaufhof-deal.
November 26, 2011
S Immo Increases Profit to Over € 20m
The Austrian real estate company reported strong results for the first nine months of the year. EBIT improved by 63% to € 74m.
November 23, 2011
Conwert – Revenue Up by 85%
The Austrian real estate company reported positive results for the first nine months of 2011 despite one-off effects.
November 23, 2011
CA Immo: Profits Doubled
The Austrian real estate company had a rental income of € 192.6m (up 56 %) in the first nine months of 2011. EBIT rose by 58%.
November 22, 2011
CA Immo Invests in Munich
The Austrian real estate group purchased a 50% stake in the Skygarden project in Munich. The acquired property value amounts to around € 63m.
November 21, 2011
Conwert With Negative Result in Third Quarter
The Austrian real estate company announces positive results for the first nine months. Profits declined considerably, EBIT improved.
November 16, 2011
Increasing Earnings and Profits for Atrium
The Israeli, Vienna-listed real estate company published results for the third quarter. Profits before taxes went up by 39%.
November 15, 2011
Increasing Interest for Kaufhof
The Austrian real estate investor René Benko got another competitor. Now three tenderers in the sale process will participate.
November 14, 2011
Immofinanz Refinances Shopping Mall in Moscow
ZAO Raiffeisenbank provides a major loan for the Austrian real estate group in order to expand operations in Russia.
November 14, 2011
UBM Improves Results
The Austrian real estate development company presented a moderate rise in earnings. Sales remained stable.
November 12, 2011
ECO Business Reports Losses
The Austrian real estate company, which is listed at Vienna Stock Exchange, announces losses for the first nine months of € 6.8m.
November 12, 2011
Immofinanz Completes Acquisition of Romanian Adama
The Austrian real estate group has taken full control over the southeastern European housing firm, in which it has held a stake since 2007.
November 9, 2011
CA Immo Sells Hotel Site in Berlin
The Europacity urban district, in which the Austrian real estate group owns a major part, is progressing apace. A first-class hotel will be opening in early 2014.
November 9, 2011
Conwert Reorganizes its Activities
The Austrian real estate company will sell a major stake in the real estate broker Resag. Assets over € 600m should be sold this year.
November 7, 2011
Benko to Acquire Kaufhof
The Austrian real estate investor René Benko plans to purchase the retail trade chain Kaufhof from the German Metro group.
November 2, 2011
Unequal Distribution of Wealth in Austria
The richest 10% of Austria´s population possess 54% of the monetary wealth. Regarding real estate, inequality is observed too.
October 30, 2011
Immofinanz Opens New Shopping Center in Romania
Total cost of the Austrian real estate company’s project amounted to € 100m, including a co-investment by French retail chain Auchan.
October 27, 2011
WIFO Claims Property Tax
Karl Aiginger, CEO of the Austrian Institute of Economic Research calls for a significant increase in taxation of real estate and fuel.
October 24, 2011
Immofinanz: „Difficult Office Market“
Due to the weak economic growth, the Austrian real estate company already sees difficulties in the Austrian rental market for offices.
October 22, 2011
Warimpex Hopes for Strong Year
The Austrian real estate company holds out the prospect of a dividend payment. EBIT is expected to increase by 20% this year.
October 21, 2011
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