IMMOAUSTRIA – increase in offices and apartments
After a phase of reserved investment activity on its home market, IMMOFINANZ will also take a more offensive approach in Austria during 2007/08. In particular, the office market in Vienna again offers excellent prospects after the comparably low development activities in recent years.
One especially important project is the enlargement of the Business Park Vienna by roughly 50,000 sqm to more than 280,000 sqm. This extension will be comprised largely of modern office space, and one section is expected to also include a 4-star hotel. The construction of both objects is scheduled to start in autumn 2007.
Extensive investments will also be made by the BUWOG/ESG residential subsidiary, whereby the construction of terraced houses will become more important. In 2007/08 BUWOG will complete projects with nearly 212 apartments and start construction on five complexes with roughly 400 apartments. The construction of the Favoriten geriatric centre will also mark the start of activities in a new field of business.
SelfStorage – Dein Lagerraum, an IMMOFINANZ holding, will complete two new facilities in Vienna during 2007.
One especially important project is the enlargement of the Business Park Vienna by roughly 50,000 sqm to more than 280,000 sqm. This extension will be comprised largely of modern office space, and one section is expected to also include a 4-star hotel. The construction of both objects is scheduled to start in autumn 2007.
Extensive investments will also be made by the BUWOG/ESG residential subsidiary, whereby the construction of terraced houses will become more important. In 2007/08 BUWOG will complete projects with nearly 212 apartments and start construction on five complexes with roughly 400 apartments. The construction of the Favoriten geriatric centre will also mark the start of activities in a new field of business.
SelfStorage – Dein Lagerraum, an IMMOFINANZ holding, will complete two new facilities in Vienna during 2007.
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