Corporate | 21 January 2015 10:54
DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous
2015-01-21 / 10:54
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IMMOFINANZ Group is continuing the expansion of its newly established VIVO!
shopping center brand: a six hectare site was secured in Krosno, a city in
southern Poland, for the construction of a further VIVO! shopping center.
Construction should be completed in the first quarter of the 2017 calendar
year. The investment costs are estimated at roughly EUR 37 million.
IMMOFINANZ Group is realising this development venture together with
Acteeum Group, a retail project development specialist (distribution at the
shareholder level: 85% IMMOFINANZ, 15% Acteeum).
"We plan to continue our expansion in the Polish retail sector - in 2014
alone, we opened 33,000 sqm of retail space in this core country. Krosno
follows the VIVO! Pila, which opened in October 2014, and the VIVO! Stalowa
Wola, which is now under construction, as the third city in Poland for our
VIVO! brand. Further locations are currently under evaluation to drive the
rapid expansion of the VIVO! chain", explained Eduard Zehetner, CEO of
IMMOFINANZ Group.
The new shopping center will have approx. 22,000 sqm of rentable space for
more than 70 stores as well as roughly 800 parking spaces. The location
offers optimal traffic connections in the southern area of the city with
direct access to the newly built ring road. The VIVO! Krosno will therefore
be easy and fast to reach from both the city center and the surrounding
region. Krosno has a population of approx. 50,000 and low unemployment plus
a catchment area, including the cities of Jaslo and Sanok, with roughly
350,000 residents.
Similar to the VIVO! Stalowa Wola development project, IMMOFINANZ Group
will also realise this latest VIVO! venture in cooperation with Acteeum
Group. The design phase has already started and discussions with potential
tenants have proven to be very promising.
The characteristic features of the VIVO! concept include single-storey
construction and a focus on fashion and entertainment with strong anchor
tenants. This concept is designed for cities with 40,000 to 100,000
residents and a catchment area of at least 200,000 persons.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe.
The company is included in the leading ATX index of the Vienna Stock
Exchange and also trades on the Warsaw Stock Exchange. Since its founding
in 1990, the company has compiled a high-quality property portfolio that
now comprises more than 470 investment properties with a carrying amount of
approx. EUR 6.8 billion. As a "real estate machine" the company
concentrates on linking its three core business areas: the development of
sustainable, specially designed prime properties in premium locations, the
professional management of these properties and cycle-optimised sales.
IMMOFINANZ Group concentrates its activities in the retail, office and
logistics segments of eight regional core markets: Austria, Germany, Czech
Republic, Slovakia, Hungary, Romania, Poland and Russia. Further
information under: http://www.immofinanz.com / http://blog.immofinanz.com /
http://properties.immofinanz.com
For additional information please contact:
MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor@immofinanz.com
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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