The latest property market news and analysis from FriedlNews
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Austrian Property Market Headlines

BIG Federal Property Managing Company's Sales Increased Slightly

Rental income and sales proceeds of federal property managing company Bundesimmobiliengesellschaft (BIG) jumped up in H1 2016 y/y. The market value of real estates climbed to over EUR 11.2 billion (USD 12.5 billion), compared to EUR 11 billion at the end of 2015, and BIG saw the rentable floor space remain at 7 million square meters.

August 31, 2016

CA Immo Well Prepared for Merger with Immofinanz

Listed property group CA Immo sees itself well prepared for the planned merger with bigger real estate firm Immofinanz and will sit down to outline the detail of the process in early September, CA Immo CEO Frank Nickel said.

August 26, 2016

Conwert EBIT Up 137.4 Percent Y/Y

Listed property developer Conwert reports that in H1 2016 it generated EBIT of EUR 146 million (up 137.4 percent y/y) and a revenue of EUR 264.3 million (up 26 percent). The company managed to boost its performance thanks to optimising the property portfolio, the structure and costs.

August 24, 2016

Grasser Appeals Against Corruption Charges

Former Finance Minister Karl-Heinz Grasser (FPÖ/ÖVP) is defending against charges of corruption with regard to the privatization of federal housing facilities and the Linz-based Terminal Tower. Grasser’s lawyer Manfred Ainedter announced that he would appeal against the charges laid down by the prosecution.

July 29, 2016

Porr to Pay Shareholders Special Dividend

Listed constructino group Porr AG wants to pay shareholders a dividend of EUR 1 per share and a special dividend of EU 0.50 per share from profit earned in 2015. Porr will be the first company in Austria to apply a Scrip Dividend, once the shareholders approve it on 24 May, it was announced. The company quotes the successful split and divestment of the property development arm last year as a reason for the dividend.

April 14, 2016

Ex-Magna Boss Buys Former Employer's Headquarters in Oberwaltersdorf

The Styrian Car Manager of Oleg Deripaska's Russian Machines Company and former Magna CEO Siegfried Wolf has bought the former Magna headquarters in Oberwaltersdorf.

March 2, 2016

Starwood Sells Hotel Imperial Vienna for EUR 71 Million

Starwood Hotels & Resorts Worldwide, Inc. announced that it has closed on the sale of Hotel Imperial Vienna, a Luxury Collection Hotel, to Al Habtoor Investment - the investment arm of UAE conglomerate Al Habtoor Group for 71 million euros. As part of the transaction, all rooms and suites of the iconic hotel will be renovated over the next four years. Hotel Imperial will continue to operate as part of The Luxury Collection brand under a new long-term management agreement.

February 26, 2016

Erste Group Moves to New Headquarters at Erste Campus

At the beginning of this year Erste Group started moving into its new headquarters at Erste Campus located in the new district of Quartier Belvedere, built on the former site of the Südbahnhof train station.

February 11, 2016

Biggest Viennese Real Estate Deal Ever - Sale of The Mall Closed

Bank Austria - via its subsidiary BAI - closed the sale of "The Mall", the largest and most modern shopping mall in the heart of Vienna. The buyer is a consortium led by Morgan Stanley Real Estate Investing (MSREI). UniCredit Bank Austria did not disclose the price, but claims that the transaction is Vienna's largest real estate deal ever.

December 16, 2015

Foundation of Late Billa Founder Wlaschek Manages Real Estate Portfolio Worth EUR 2 Billion

The foundation of late billionaire Karl Wlaschek manages a real estate portfolio of over EUR 2 billion (USD 2.2 billion). In 2014, the company achieved EUR 132.1 million from rent income, the daily WirtschaftsBlatt writes citing annual reports of the three companies involved: Amisola, Estrella and Novoreal.

November 6, 2015