The property of arm of German insurer Allianz has set up an office in Austria’s capital and appointed a new director to help strengthen the company’s presence across the region.

Allianz Real Estate has appointed Thomas Villadsen to the new role of director of Austria and Central & Eastern Europe (CEE).

Allianz said setting up the office in Vienna is part of its plan to have a physical presence in key global markets.

Villadsen was most recently the chief executive officer of Belgrade-based MPC Properties. Prior to this, he was the general manager and senior vice president for TK Development in Prague.

Annette Kröger, CEO of Allianz Real Estate North & Central Europe, said: “With established assets in Slovakia, Slovenia, Poland, Hungary and Austria, Allianz already controls a significant regional real estate portfolio with many prime assets. We are now looking to build on this momentum with the opening of an office in Vienna.” 

François Trausch, CEO, Allianz Real Estate, said: “Our office in Vienna complements our global strategy of continued diversification across regions and asset classes, and fits our aspiration to be close to our markets and our assets. 

“The North & Central Europe region continues to play a pivotal role in our global growth: Allianz Real Estate was formed in Germany 10 years ago and opening a new Vienna office in the year we celebrate our tenth anniversary shows the ongoing evolution and importance of the region.”