The latest property industry and company news and analysis from FriedlNews
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Austrian Real Estate Market Headlines

CA Immo Okays Transfer of Registered Shares to Immofinanz

The two listed property developers Immofinanz and CA Immo are one step closer to the planned merger. CA Immo announced that the management agreed to the request of O1 Group Limited to transfer four registered shares of CA Immo to Immofinanz, after indepth review of the transfer.

Yesterday

Immofinanz Earnings Pulled Down by Russian Arm Performance

Austria’s listed property developer Immofinanz saw its profits plummet in FY 2015/16, mostly on account of one-off effects and the performance in Russia. The consolidated loss soared to EUR 390 million, from EUR 377 million in the previous year, the company announced.

Yesterday

Karl-Heinz Grasser to Stand Trial on Charges of Fraud and Corruption

After a seven-year investigation the 47-year-old former Finance Minister Karl-Heinz Grasser will be indicted for fraud and corruption together with Meischberger and 14 other people in the cases Buwog and Linz Terminal Tower.

July 21, 2016

Conwert Real Estate Co's Key Shareholder Adler Set to Buy up to 6 Mln Shares

Adler, lead shareholder of listed property group Conwert, wants to buy another stake in the unit of up to 6 million shares or some 6.5 percent and has agreed on a respective call option with another shareholder Petrus Advisors, Adler said.

July 20, 2016

Home Prices in Austria Up 13.4 Pct - Second-Highest Growth in EU

Home prices in Austria in the first quarter of the year, compared to the same period of 2015, grew at the second-highest pace in the European Union. The growth reached 13.4 percent according to Eurostat.

July 12, 2016

Austria Built Biggest Number of Homes Per Capita in 2015

In whole Europe the biggest number of apartments was built in Austria according to the latest "Deloitte Property Index 2016". In Austria 6.2 homes per 1,000 residents were built. "This way Austria was 55 percent above the average for the European Union” a Deloitte spokesman told APA.

July 12, 2016

Investments in Commercial Properties Stable

The demand for offices, shops and hotel properties in Austria was unchanged y/y in H1 2016. EUR 1.3 billion have been spent on the acquisition of commercial properties so far, real estate agency CBRE reports.

July 6, 2016

Warimpex to Become Active in St.Petersburg’s Special Economic Zone

With the approval of St.Petersburg’s government Warimpex Finanz und Beteiligungs AG with headquarters in Vienna will get involved in the future special economic zone "Aeropolis” at the Pulkovo 2 airport. "Aeropolis” is supposed to be built between 2016 and 2020 by the majority state-owned Bank VTB for some EUR 85.8 million (USD 97.37 million). This was reported by the Russian "Delowoj Peterburg”.

June 21, 2016

Property Developer MTK to Invest in Venice

Property development company MTK with headquarters in Vienna will invest on the mainland of Venice. The company owned by the German investor Tilmar Hansen purchased at an auction 16,000 square meters of land next to Mestre station. The plan is to build four hotel structures on the grounds. The hotels will have a total space of 30,000 square meters.

June 10, 2016

Uniqa Eyes Over EUR 100 Mln from Design Tower Sale

Listed insurer Uniqa expects to obtain over EUR 100 million (USD 113.5 million) from the sale of the Design Tower building in Vienna, the company's spokesman said, confirming an earlier report by broadcaster ORF. The sale of the building, which houses primarily a Sofitel hotel, is in line with the company's long-assumed strategy of focusing on core business, he added.

June 7, 2016