The latest property industry and company news and analysis from FriedlNews
Page 1/48

Austrian Real Estate 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

Buwog Increases Development Pipeline to Boost Earnings in Coming Years

Listed residential real estate group Buwog plans to boost earnings growth in the coming years by the construction of thousands of new apartments, including those for rent, the company's representatives said.

August 31, 2016

Porr Seen Netting Attributable Net Profit of EUR 23.4 Mln in Q2

Listed builder Porr will likely post EUR 23.4 million (USD 26.2 million) attributable net profit in Q2 2016, up by 9 percent y/y, predict analysts ahead of the release of the financial statement slated for Tuesday.

August 29, 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

Signa Buys "Forum Donaustadt” with ARE Development

Tyrolean property development company Signa and ARE Development, subsidiary of Bundesimmobiliengesellschaft (BIG) will together acquire the city development project "Forum Donaustadt" in Vienna. The deal is worth several hundred million. According to one branch expert, the deal could be worth about EUR 300 million (USD 338 million).

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

Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility

Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.

February 22, 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