Immorent, latest Austrian firm on real estate market

Immorent AG and CEE Property Invest, two real estate companies belonging to the Austrian Erste Bank group, one of the main players on the Central European financial services market, have officially opened offices in Romania and plan to carry out their first real estate projects next year.

“With the two companies we are offering real estate leasing services for the technology sector as well as real estate project development services,” said Harald Trinkl, general manager of Immorent Romania.

Trinkl is interested both in acquiring existing real estate on the market and in developing independent projects.

“We have 30-40 cases on the Romanian market that we have already studied with a view to a possible takeover or development. In principle, we are interested in buildings with at least 5,000 square metres of high-quality office space and a value of over 10 million euros,” said Trinkl.

Since there is not much real estate on the Romanian market that meets the criteria of international companies, CEE Property Invest Romania (the company responsible with the development of real estate projects) will next year begin developing its own project for office buildings.

Most probably, say Immorent representatives, the year of 2005 will also see the acquisition of an existing real estate project.

“Immorent Romania will set aside 20 million euros next year, half of which will be for the real estate sector and the other half for technology sector,” added Trinkl.
ionut.bonoiu@zf.ro