IMMOFINANZ expands its portfolio to include sustainable housing
IMMOFINANZ is now expanding its real estate offering to include affordable and sustainable housing, with the company planning to create up to 12,000 apartments in the medium term, according to a press release sent to the Budapest Business Journal.
With the company’s new Top on STOP concept, STOP SHOP business parks will be overbuilt to create low-cost, resource-friendly housing directly adjacent to local providers and recreation facilities.
“Given the scarcity and increasing cost of land in the city center and the current housing shortage, we have a massive resource with the largest network of shopping parks in Europe. With Top on STOP, we now want to make the most of this opportunity and, as an experienced real estate developer, offers affordable and sustainable housing and supports the responsible use of valuable land resources ”, explained Dietmar Reindl, COO of IMMOFINANZ, on the strategy.
“In this way, we are meeting three of the greatest challenges of our time: we are advancing in densification and fighting against soil waterproofing. We create quality housing for low and middle income people. our concepts of wood construction and ecological energy, ”added Reindl.
IMMINANZ’s STOP SHOP portfolio currently covers around 100 locations in 10 European countries, and plans call for an increase to 140 properties over the next few years.
Stefan Schönauer, CFO of IMMOFINANZ, said: “In the medium term, we plan to over-build around 50% of our current and future STOP SHOP locations with affordable rental apartments. This would represent up to 600,000 m² of residential space or nearly 12,000 smart and sustainable apartments. We start with pilot projects in Austria and neighboring countries and – as with our other real estate products – a high degree of standardization will then allow rapid deployment. Another advantage is the lower investment costs since we are building on existing properties. This will also generate an attractive residential yield for our shareholders in this segment. “
The modular timber construction will allow combinations ranging from mini-lofts to family apartments, apartments with home offices or separate units for guests or caregivers. The climate-neutral energy concept includes the use of photovoltaics, heat recovery and geothermal energy as well as the loosening of land by greening and the installation of common areas such as play areas, meeting areas or rooftop gardens. The first pilot project has already started and will be implemented soon after municipal authorizations.
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