DGAP-News: IMMOFINANZ AG: D?bowe Tarasy (Phase III): IMMOFINANZ Group realises first own residential development project in Poland
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate
IMMOFINANZ AG: D?bowe Tarasy (Phase III): IMMOFINANZ Group realises
first own residential development project in Poland
06.06.2012 / 13:09
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Today, IMMOFINANZ Group officially started construction on the D?bowe
Tarasy Residential Estate (Phase III) in Katowice with a well-attended
cornerstone laying ceremony that also included Piotr Uszok, Mayor of
Katowice, as honourable guest. Development activities will be carried out
by BUWOG International, a subsidiary of IMMOFINANZ Group, specialised on
residential development projects. Completion is scheduled in 2013. The
total investment amounts to
EUR 21.7 million.
'The success of D?bowe Tarasy Phase I and II combined with the rising
demand for upmarket middle class apartments encouraged us to further extend
our prestigious project and to enter the Polish residential market as a
developer', commented Daniel Riedl, Member of the Executive Board of
IMMOFINANZ Group. 'The starting conditions for D?bowe Tarasy III are
perfect: In December 2011 we fully acquired the remaining 30% stake from
our former joint venture partner TriGranit. We have a valid building
permit, the financing is secured and we completed the pre-sales phase with
reservations for more than 20% of the planned space', explained Riedl.
'D?bowe Tarasy III will be built and managed by BUWOG International, which
is part of BUWOG Group and has more than 60 years of experience in the
design, development, construction, use and management of residential
properties. D?bowe Tarasy III will substantially benefit from this
know-how', added Riedl.
Successful pre-sales prove attractiveness
The market has been looking forward to the extension of the D?bowe Tarasy
residential estate due to the sustained demand for apartments in central
locations in Katowice. 'The estate is perfectly situated close to the city
centre, has very good access to its infrastructure, the main traffic
arteries and, importantly, is located in close proximity to the Silesia
Park, the largest urban park in Europe, as well as the multifunctional
shopping and entertainment hot spot of the region - Silesia City Center',
said Janusz Olesi?ski, project manager of D?bowe Tarasy.
In the third phase of the project the developer will deliver 317
comfortable and functional apartments in three buildings: one with 11
storeys and two with five storeys each. Future residents can choose from
one- to four-room apartments with areas ranging from 27 up to 110 sqm.
High quality standards and big-city elegance
Just like the two earlier phases of the project, the buildings will be
equipped with spacious terraces, gardens or balconies, an underground
parking garage, lifts and storage rooms. Video surveillance will monitor
access to the estate, which will only be possible with a remote control or
an access card.
'The design of the D?bowe Tarasy alludes to modern, big-city elegance while
its distinguishing feature is the cascade architecture, which provides
residents with very good access to sunlight and an excellent view over the
city. The buildings also have a number of natural, warm and cool elements
of finishing', described Jacek Ku?from STABIL studio, architect of the
project. 'What makes the project stand out are the applied solutions and
high quality standard (e.g. finishing of common areas, greenery, and fast
lifts)', added Ku?.
In 2008 the design and the realisation of the estate received prestigious
awards such as the so-called 'Construction Oscar', the Grand Prize of the
President of the Chamber of Construction in Katowice and the five-star Best
Development title in the CNBC European Property Awards competition.
Poland: an attractive, promising residential market
The Austrian-based IMMOFINANZ Group entered the Polish market in 2004 as a
real estate investor and the residential market in 2008. Today Poland is
one of the major Eastern European residential markets within the Group. The
company focuses mainly on the housing market in Warsaw and other
dynamically growing regions such as Katowice where IMMOFINANZ Group only
last October achieved an outstanding success with the opening of the
Silesia City Center Extension.
The company plans to intensify its residential activities in Poland. At
present the realisation of three further projects is planned if market
conditions remain stable: Riverpark Phase I and II in Pozna?, Residea Alpha
in Warsaw and D?bowe Tarasy Phase IV in Katowice.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe
and is included in the leading ATX index of the Vienna Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,830 investment properties
with a carrying amount of approx. EUR 9.81 billion. The core business of
the IMMOFINANZ Group covers the acquisition and management of investment
properties, the realisation of development projects and the sale of
objects. The IMMOFINANZ Group concentrates its activities in the retail,
office, logistics and residential segments of eight regional core markets:
Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and
Russia. Further information under: www.immofinanz.com.
On BUWOG INTERNATIONAL/BUWOG GROUP
BUWOG International, part of the BUWOG Group, is owned by the Austrian
based IMMOFINANZ Group. BUWOG Group has over 60 years' of experience in
design, development, construction, use and management of properties.The
company is renowned for its construction activity. It is responsible for
the construction of more than 35,000 apartments with a useable area of 2.6
million sqm. In total - combining the residential, office and retail
sectors - BUWOG Group is in charge of the property management for 5,500
units with a useable area of approx. 3.7 million sqm. Currently, the BUWOG
Group in Austria and CEE has more than 1,000 flats under construction and
an additional 20 projects in preparation. Our two most recent residential
projects are the Riverpark in Pozna?and the expansion of D?bowe Tarasy in
Katowice. Further information under: www.buwog.com
Contact:
For additional information contact:
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance&Investor Relations
IMMOFINANZ AG
M +43 (0)699 1685 7312
investor(at)immofinanz.com
Simone Korbelius
Investor Relations
IMMOFINANZ AG
T +43 (0)5 7111 2291
investor(at)immofinanz.com
MEDIA INQUIRIES
Sandra Bauer
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ AG
T +43 (0)5 7111 2292
M +43 (0)699 1685 7292
communications(at)immofinanz.com
A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com
End of Corporate News
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Language: English
Company: IMMOFINANZ AGWienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 5 7111 - 2291
Fax: +43 (0) 5 7111 - 8291
E-mail: investor(at)immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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173059 06.06.2012
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