Vienna-listed property firm Conwert Immobilien Invest has said it plans to acquire other companies to expand its development business. On Wednesday, Conwert announced the establishment of a new holding company, Conwert Bautrager-Development, to manage all its development and construction management operations in Austria and Central and Eastern Europe. The development arm has operating subsidiaries in Austria, Slovakia, the Czech Republic and Hungary, which are working on 70 modernisation and new construction projects valued at EUR 180mln.
Vienna-listed property firm Conwert Immobilien Invest has said it plans to acquire other companies to expand its development business. On Wednesday, Conwert announced the establishment of a new holding company, Conwert Bautrager-Development, to manage all its development and construction management operations in Austria and Central and Eastern Europe. The development arm has operating subsidiaries in Austria, Slovakia, the Czech Republic and Hungary, which are working on 70 modernisation and new construction projects valued at EUR 180mln.
'The objective of the new structure is to establish ourselves in the free market as a specialist in our niche - high-quality inner-city residential buildings - and to become one of the first addresses in this segment. We have already managed to achieve this in our first projects,' Karl Raabl, managing director of Conwert Bautrager-Development, said.
