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

Conwert Buys Apartments in Duisburg for EUR 46 Million

The listed property company Conwert keeps expanding in Germany. The Austrian company has bought for EUR 46 million (USD 52.3 million) a portfolio of 1,029 apartments in Duisburg Mittelmeiderich. The finalization of the deal should take place in the third quarter of 2016 Conwert announced. Thanks to this Conwert’s core residential portfolio will grow by 5 percent to 22,500. The whole portfolio will grow to 28,500 units.

3 hours ago

Warimpex Real Estate Suffers EUR 42.3 Million Loss in 2015.

Listed real estate developer and hotel operator Warimpex suffered a EUR 42.3 million (USD 47.9 million) net loss in 2015 as it had to book FX and revaluation impairments on weak Russian business, the company said.

April 28, 2016

Porr Saw Profit, Output Hike in 2015

Listed construction firm Porr reports a considerable hike of earnings and construction output for 2015. The backlog has never been so good, currently amounting to EUR 4.579 billion (USD 5.2 billion) (up 13 percent y/y), the management points out in its statement. The incoming order volume increased by 29 percent to EUR 4.045 billion.

April 21, 2016

Investor Benko's Retailer Karstadt Improves Operating Result

Department store firm Karstadt, a German unit of Austrian investor Rene Benko (Signa Holding) enjoyed a continuation of positive trends after improving the operating result by EUR 62 million (USD 70.2 million) in FY 2014/15, a director Miguel Müllenbach told the daily Die Welt. As of end-March, operating profit could be raised again, by EUR 30 million y/y, he said

April 20, 2016

Immofinanz Real Estate Takeover of CA Immo Seen "Very Positive” - SocGen

Listed real estate group Immofinanz's acquisition of a stake in peer CA Immo and the planned merger are viewed as "very positive for both parties” to the deal, Societe Generale analysts said.

April 20, 2016

Signa Still Focuses on City Centre, Criticizes Sunday Closing

Signa group of Rene Benko is still focusing in its property investments on city centres and wants to develop primarily combined retail/gastronomy outlets. The "Golden Quarter” of Kärntner Straße, Graben and Kohlmarkt in Vienna developed by Signa is going very well this is the place where a quarter of Austria’s retail trade turnover is concentrated CEO of Signa, Christoph Stadlhuber remarked.

April 19, 2016

CA Immo, Immofinanz to Merge - Details

The planned merger of the two listed property developers is expected to happen no sooner than in 2017. At the moment the two companies assume that the shareholder meetings to approve the merger will be held in 2017, the two companies stated on Monday. Many regulatory nods will have to be collected by that time.

April 18, 2016

Immofinanz Property to Sell/Spin-Off Russian Portfolio yet this Year

Listed real estate group Immofinanz plans to sell or spinoff its Russian property portfolio yet this year and will launch the process in H2, CEO Oliver Schumy told journalists.

April 18, 2016

Immofinanz and CA Immo Eye Post-Merger Savings at EUR 33 Mln/Year

Listed real estate groups Immofinanz and CA Immo expect to achieve EUR 33 million (USD 37.3 million) in annual savings following the planned merger, the companies' representatives said at a press conference.

April 18, 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