Bank Austria in EUR 280m Vienna HQ project

Unicredit's Bank Austria has announced that it will invest between EUR 150 and 280 mln in the creation of a new headquarters, UniCredit Bank Austria Town, offering 150,000 m² of space in the heart of the city's Praterstern business district.

The urban planning competition will start in the next few weeks, with construction expected to be completed in 2015, and relocation planned for 2016.

The project, located on the site of the former Northern Railway Station, is part of a major urban regeneration programme encompassing over 650,000 m² of residential and commercial space. By 2025, a new city quarter with about 10,000 apartments, offices for some 10,000 workplaces, as well as shops, service providers and related infrastructure facilities will be created in several stages on 65 hectares of land in the area of the former Northern Railway Station.

Bank Austria's future headquarters will consist of four buildings accomodating up to 7,000 people.

'This is certainly one of the most significant urban development programmes in Vienna. We are realising it jointly with the City of Vienna and property developers. We welcome the fact that Bank Austria, an Austrian lead company of international stature, will play a key role in this part of the city,' said Christian Kern, CEO of the Austrian Federal Railways.