CA Immo has taken a further step in its strategy to simplify the company's business structure and to focus on core activities with the spin-off of its wholly owned construction management subsidiary omniCon Gesellschaft für innovatives Bauen mbH via a Management-Buy-Out.
The operation follows the spin-off by CA Immo of all property management activities in CEE and Austria, and the sale of a minority stake in a CEE facility management business.
Since 2008, omniCon has operated primarily as internal service provider of construction management services to CA Immo, while also undertaking similar work for third parties, amongst others for Roche in Basel. With recent completion of major developments such as ONE in Frankfurt and Hochhaus am Europaplatz in Berlin, CA Immo’s development pipeline has reduced in volume when compared to previous years, and has become more focused on the single market of Berlin.
With more than 80 employees across multiple offices, omniCon currently accounts for around 25% of CA Immo's total workforce, which is a disproportionately high share, and wide geographic spread, in view of this reduced and focused development pipeline of CA Immo going forward.
omniCon will continue to operate on the market under its own brand and provide construction management services to CA Immo and third parties. CA Immo will maintain in house value creative development capabilities across the value chain from zoning through to construction realization, though will competitively procure construction and project management services from third parties on future developments.
Keegan Viscius, CEO of CA Immo said: 'The spin-off gives omniCon a clear orientation as an independent player on the market with an excellent track record and established expertise as a construction manager. For CA Immo, it streamlines the operating platform in line with our core business. While the development of Class A office properties with an experienced in-house team remains a significant business area for CA Immo, this adjustment to the organisational structure will lead to greater flexibility and reduced complexity, particularly in a more challenging market environment with greater volatility. We would like to thank all omniCon employees for their many years of successful collaboration, which will continue on selected projects.'
omniCon specialises in the management of commercial construction projects in the range between €10 mln and €500 mln, with a particular focus on the office, hotel, retail and residential segments. In addition, the company has experience in the implementation of conversion processes (obtaining planning permits, property preparation, infrastructure) of former industrial sites. omniCon currently has branches and offices in three locations: Frankfurt, Berlin, and Basel.
