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Austrian Real Estate Market Headlines

Immofinanz Has Two New Heads

Listed property developer Immofinanz has two new management board members: Andrea Sperling-Koch (46) has been appointed Country Manager Finance & Support, while Christian Traunfellner (45) has been appointed new Country Manager Operations.

May 17, 2016

Julius Meinl Acquires Grand Hotel Europa in Prague

The famous hotel in Prague "Grand Hotel Europa” has been taken over by Julius Meinl. The Czech businessman Vaclav Skala has sold the currently closed hotel to a company of the Meinl group, as the Czech economic newspaper "Hospodarske noviny” reported. The purchase price hasn't been revealed.

May 11, 2016

Immofinanz Raises Office Occupancy Rate to ca. 82 Pct in '15/16

Listed real estate group Immofinanz raised the occupancy rate of its office properties by 7 percentage points to nearly 82 percent in fiscal year 2015/16 (ending at the end of April), the company said Monday.

May 9, 2016

UniCredit Bank Austria sold plot for Viennese DC Tower 2

The owner of Viennese property developer Wiener Entwicklungsgesellschaft für den Donauraum GmbH (WED), UniCredit Bank Austria, has sold the plot for Donau City Tower 2 skyscraper. The buyer is one of the biggest real estate funds of Germany HausInvest of Commerz Real. The price of the deal and details have not been disclosed.

May 4, 2016

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.

May 2, 2016

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