The Austrian capital is interesting for real estate investors. As in other major European cities, property prices here have risen sharply in recent years. The city is the economic powerhouse of the Alpine country. Almost every third Austrian lives in the Vienna conurbation. Deka Immobilien’s most recent commitment to the Danube city should be seen against this background. The investor mentioned in this article is also part of our List of the largest property investors in Germany.
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A striking office tower near the Prater
The Austro Tower – a striking 135-metre high, 38-storey office tower – was acquired for a fund managed by Deka Immobilien. The office tower is located in the immediate vicinity of the Danube Canal not far from the famous Prater and in the vicinity of the airport motorway. The high-rise is still under construction and is scheduled for completion in 2021. The tower has a gross floor area of approx. 43,400 square meters and offers around 28,000 square meters of office space. There is also space for a company restaurant, a café and conference rooms. 80 percent of the office space has already been leased. The tenants are Austro Control, the Austrian air traffic control company, and the infrastructure financier ASFINAG. Deka Immobilien is the property fund subsidiary of Deka Investments and is part of Deka Bank Girozentrale, the securities house of the German savings bank group. The Austro Tower was sold by Soravia Group – an Austrian real estate company and family-owned project developer. Source: Medianet Picture source: Unsplash
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