Allianz Real Estate, the property arm of the German insurer, has opened an office in Vienna and appointed Thomas Villadsen to the new role of director of Austria and Central & Eastern Europe (CEE).
The move, which strengthens the firm’s presence across the region and builds on established assets in countries such as Austria, Hungary, Slovenia and Poland, is part of the company's plans to have a physical presence in key global markets.
'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,' said François Trausch, CEO, Allianz Real Estate. '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.'
A Danish national, Villadsen has worked across the CEE region for many years, most recently as CEO of Belgrade-based MPC Properties. Prior to this, he was the general manager and senior vice president for TK Development in Prague.
In July last year, Allianz expanded its real estate portfolio in Austria with the purchase of office project The Icon in Vienna, an 88,000 m2 building situated close to the new central station. The property is currently undergoing construction with completion set for the end of this year or early 2019.
Allianz grew its real estate portfolio by €8.9 bn in 2017 – €5.2bn in equity and €3.7bn in debt investments – to €56 bn worldwide. The growth of the portfolio was due to the continuation of a broad diversification strategy at Allianz Real Estate in both established and new markets.
