Immofinanz to focus on Poland, Germany and France

Real estate company Immofinanz plans to concentrate its portfolio on retail and office sectors. Austria, Germany and Poland will represent the geographic focal points for these efforts, the company informed. “Growth will be directed towards improving sustainable profitability and creating a more balanced portfolio distribution between Western and Eastern Europe“, said Oliver Schumy, the CEO of the company. At the present time, roughly 32 percent of the portfolio is located in Austria and Germany and 68 percent in Eastern Europe, including Moscow. Project development in 2015/16 will include, among others, the completion of the first phase of construction on the Gerling Quartier in Cologne, the first section of the Metroffice complex in Bucharest and the VIVO! shopping center in the Polish city of Stalowa Wola. From the current point of view, the planned average investment volume is estimated at approx. €300 million per year. Immofinanz is listed on the Warsaw and Vienna bourses. Its portfolio includes more than 470 properties with a carrying amount of around €6.7 billion.