IMMOFINANZ properties in Romania represent 21.2% of the company's total portfolio (excluding Russian assets). The 72 properties (17 completed investments, 3 development projects, 8 additional real estate projects - apartments for sale after completion - and 44 projects under analysis) amount to 845.4 million Euros.
The real value estimated after the completion of the current development projects of the group in Romania amounts to 71.5 million Euros. During the first quarter of the financial year 2017, the occupancy rate of the portfolio in Romania reached 96.5%.
The main assets Immofinanz has in Romania are Iride Business Park, Metroffice, S-Park, Victoria Park, Baneasa Airport Tower (office), four Vivo! shopping centres In Cluj-Napoca, Piteşti, Constanţa and Baia Mare, with a cumulative rental area of 345,000 square meters.
With the merger announced last year but not yet completed, Austrian companies Immofinanz and CA Immo will create a new big player in real estate. Currently, their portfolios add up to 1.1 billion Euros, equivalent to the Globalworth portfolio after delivery of the projects underway. (Source: zf.ro)
