DGAP-News: IMMOFINANZ AG: IMMOFINANZ Group Increases Volume of Lettings in Poland
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Miscellaneous
IMMOFINANZ AG: IMMOFINANZ Group Increases Volume of Lettings in Poland
16.12.2010 / 09:06
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IMMOFINANZ Group Increases Volume of Lettings in Poland
In the course of its focus on Eastern Europe, the IMMOFINANZ Group has
achieved a further increase in its volume of lettings in Poland. Between
October and mid-December 2010, the company was able to let 11,000 m²of
prime office properties to international and national firms. New or
re-letting agreements already amount to more than 5,000 m², with agreements
on further 6,000 m²to be finalized by the end of the year. The terms of
the lease agreements range from three to seven years. The office properties
in question are the West Gate, Lopuszanska Business Park, Crown Tower,
Bokserska Office Center, and the recently successful refinanced IO-1 office
building. The largest individual office properties let out this fiscal year
were to GTECH (4,600 m²) and First Data (4,000 m²), both in the West Gate
center and to Baker Tilly with around 2,500 m²in the Crown Tower building.
IMMOFINANZ expects that around 25,000 m²of lease agreements will be
concluded in the office segment in Poland in this fiscal year, thus
enabling IMMOFINANZ to further consolidate its market position. The
IMMOFINANZ Group's market share in the office segment in Poland is around 7
%. The IMMOFINANZ Group is one of the biggest players in the Polish real
estate market.
IMMOFINANZ Developments in Poland
The extension of the Silesia City Center in Katowice, which was launched in
2010, will amount to around 20,000 m². The existing center has been fully
let since it was opened in November 2005, and tenant interest in the new
space is very substantial. The extension is scheduled to open in autumn
2011.
The Polish Office Market
Warsaw, the largest market for office properties in Eastern Europe, has a
total of more than 3.4 million m²of state-of-the-art office space. In the
first three quarters of 2010, the Warsaw office market realized about
152,000 m²of rental income, which was an above-average improvement in
comparison to the comparable period of the previous year. Vacancy rates
remained stable throughout the period. The positive outlook for the Polish
economy in 2011 will give demand for office real estate an extra boost.
Prime office locations in downtown Warsaw show above-average growth in
value and thereby confirm the positive trend forecast for 2011.
'Poland is growing at an exceptionally dynamic rate. Our outstanding real
estate portfolio and development projects in Poland enable us to continue
participating successfully in this development.' commented Dr. Manfred
Wiltschnigg, COO of the IMMOFINANZ Group.
End of Corporate News
16.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: IMMOFINANZ AGGaudenzdorfer Gürtel 67
A-1120 WienÖsterreich
Phone: +43 (0) 5 7111 - 2290
Fax: +43 (0) 5 7111 - 8290
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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106658 16.12.2010
Datum: 16.12.2010 - 09:06 Uhr
Sprache: Deutsch
News-ID 32874
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Kategorie:
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