The latest property industry and company news and analysis from FriedlNews
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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

CA Immo - Part of Hungarian Portfolio Finds New Tenants

The listed property concern CA Immo in the first half of this year rented out about 15,000 square metres of office space in Budapest. Out of this 6,500 square metres were rented by new tenants, for about 8,000 square metres contracts were extended.

August 23, 2016

Immofinanz Could Get Rid of Russian Business Already this Year

The head of Immofinanz Oliver Schumy doesn’t rule out that the group could get rid of the problematic Russian portfolio already this year in form of a sales contract. Getting rid of the troublesome assets is an important precondition for the planned merger with CA Immo. In 2015/16 in Russia alone Immofinanz had to write off about EUR 470 million in property value.

July 29, 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

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.

July 28, 2016