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

S Immo Raises Profit Thanks to Strong Business in Germany

The listed sImmo managed to substantially boost its profits in the first nine months of the year. The profit of the Austrian property company increased from EUR 22.2 million to EUR 28.2 million also thanks to value growth mainly of the property in Berlin.


Conwert Real Estate Turns to EUR 65 Mln Net Profit in 9 Mo

Listed real estate group Conwert turned to EUR 64.9 million (USD 69.1 million) net profit in the first nine months of 2015 after EUR 23 million net loss in the same period of 2014, the company's spokesman said. This is the best ever operating result.

November 25, 2015

Conwert: Analysts Expect Profits for 9 Months

Experts from Erste Group, Baader Bank and Kepler Cheuvreux expect that in the first nine months of the year Conwert managed to turn to profits from losses in the same period of last year. On average a net profit after minorities of EUR 45 million is expected. In the same period of last year the company recorded a EUR 23 million loss. Already in the first six months the property company managed to return to profits.

November 24, 2015

UBM Sells Warsaw Holiday Inn to Union Investment

Austrian property developer UBM has sold the Holiday Inn hotel in Warsaw, to be ready by the beginning of 2017, to an openended real estate fund of Germany’s Union Investment, though UBM will act as tenant of the hotel until 2038.

November 17, 2015

Warimpex Sells Stakes in Two Hotels in Yekaterinburg

Hotel operator and property developer Warimpex has sold 60-percent stakes in two airport hotels in Yekaterinburg in Russia to private investors. In spite of the currently difficult market the deal is going to have a positive impact on the Austrian company’s balance sheet. The hotels will still be managed by Vienna International Hotelmanagement.

November 17, 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

Austrian Railways Sell Grounds Round Northwest Rail Station

State railway group OBB sold a large part of the land at the Vienna Northwest Rail Station to a real estate consortium, the magazine Profil writes.

November 3, 2015

Immofinanz Reaches EUR 60 Mln Settlement with Investors

Listed real estate group Immofinanz has agreed on a settlement concerning over 500 pending court proceedings with investors at a cost of EUR 60 million (USD 66.1 million), the company said.

November 2, 2015

6B47 Real Estate Investors Takes Over German PDI

Property developer 6B47 Real Estate Investors is taking over the 50 percent in German group PDI it does not yet own, 6B47 said.

November 2, 2015

Signa Holding Sells Building for EUR 94 Mln to Insurer Allianz

Signa Holding of investor Rene Benko sold an office building (Haus an der Wien) to insurance group Allianz for some EUR 94 million (USD 103.5 million), real estate intermediary EHL said.

November 2, 2015