EQS-News: IMMOFINANZ and Dietmar Reindl reach an agreement on the use of its sustainable and affordable housing concept

EQS-News: IMMOFINANZ AG / Key word(s): Real Estate
IMMOFINANZ and Dietmar Reindl reach an agreement on the use of its
sustainable and affordable housing concept

25.11.2022 / 09:18 CET/CEST
The issuer is solely responsible for the content of this announcement.

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IMMOFINANZ and Dietmar Reindl reach an agreement on the use of its
sustainable and affordable housing concept

IMMOFINANZ is concentrating on the strategic growth areas of retail
properties and myhive office solutions in the current market environment
and has sold the rights for joint use of the development concept for
sustainable and affordable housing over single-storey buildings to Dietmar
Reindl. This innovative residential concept will now be expanded to
include implementation by this former IMMOFINANZ Executive Board member
under his own flag outside the IMMOFINANZ Group. IMMOFINANZ retains the
right to implement the concept on its own properties at any time and
remains the owner of the On Top Living brand.

With its ESG strategy, IMMOFINANZ is pursuing high standards for climate
protection, the responsible use of resources and the respectful treatment
of people and the environment. Innovative and sustainable real estate
projects will be implemented to meet these ambitious goals. The related
projects involve the Group’s leading position on the retail park market in
Europe and innovative myhive office solutions as well as the over-building
of single-storey retail parks with sustainable and affordable housing.
This smart residential concept developed by IMMOFINANZ sets the highest
social and ecological standards for intelligent densification and makes an
important contribution to the fight against climate change, ground sealing
and exploding housing costs.

Dietmar Reindl will take over responsibility for the technical and
operational development of the concept to market maturity and realise
various projects to rapidly create affordable and sustainable housing.
IMMOFINANZ retains the right to implement the concept on its own
properties at any time and remains the owner of the On Top Living brand.
The parties have agreed not to release any information on the purchase
price for the usage rights.

“The opening of usage rights for sustainable and affordable housing on
standing investments for Dietmar Reindl, who initiated and pursued this
project in his function as a former member of the IMMOFINANZ Executive
Board, is an important step in the implementation of our portfolio
strategy in the current challenging environment. This decision strengthens
the focus on our successful STOP SHOP and VIVO! retail brands and our
myhive offices. At the same time, we can support the further development
of this innovative residential concept independent of IMMOFINANZ and, in
this way, create access to affordable and sustainable housing for as many
people as possible. We see this step as a win-win situation for our
company, our fellow human beings and the environment“, explained Radka
Doehring, Executive Chairwoman of IMMOFINANZ.

Dietmar Reindl: “In recent weeks and months, I have seen great interest
and strong demand for this innovative housing concept. I am very pleased
that we have now found a solution that makes it possible for me to quickly
expand and introduce the concept on the market. The first projects are
expected to start in 2023, with Austria as the focal point. The
flexibility of the concept will open numerous opportunities for locations
and uses. However, the emphasis will remain on sustainability and
affordability as well as the fight against ground sealing through the
densification of existing buildings. That will make a valuable
contribution to creating smart, affordable and ecological housing.“

Dietmar Reindl held central functions with IMMOFINANZ starting in 2012 and
was a member of the Executive Board from May 2014 to June 2022 where he
was responsible for the real estate portfolio as well as development,
transactions, marketing & brand management, public relations, ESG and
people & culture. He will serve as an advisor to the Executive Board and
Supervisory Board of IMMOFINANZ up to the end of December 2022.

On IMMOFINANZ

IMMOFINANZ is a commercial real estate group whose activities are focused
on the office and retail segments of eight core markets in Europe:
Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and
the Adriatic region. The core business covers the management and
development of properties, whereby the STOP SHOP (retail), VIVO! (retail)
and myhive (office) brands represent strong focal points that stand for
quality and service. The real estate portfolio has a value of
approximately EUR 5.5 billion and covers 260 properties. IMMOFINANZ is
listed on the stock exchanges in Vienna (leading ATX index) and Warsaw.
Further information under: [1] https://www.immofinanz.com

 

For additional information contact:

Bettina Schragl
Head of Corporate Communications and Investor Relations
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290

[2]communications@immofinanz.com
[3]investor@immofinanz.com IMMOFINANZ
1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com

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25.11.2022 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 – 2290
Fax: +43 (0) 1 88090 – 8290
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich,
Stuttgart; Warschau, Vienna Stock Exchange (Official Market)
EQS News ID: 1496901

 
End of News EQS News Service

1496901  25.11.2022 CET/CEST

References

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2. communications@immofinanz.com
3. investor@immofinanz.com

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