Frankonia and Immofinanz Erect Office Center
Frankonia Eurobau and IMMOFINANZ have acquired a 6,172 m2 property in the "Düsseldorf Airport City" business park through a joint project company. On this property, the buyers will build a architecturally sophisticated business complex with underground parking. Construction will commence as soon as next year is to be completed by the end of 2009. "We are happy to be able to take this exciting piece of news with us on the 8th of October to the real-estate trade show Expo Real 2007 in Munich. With Frankonia and IMMOFINANZ, we have found additional compelling partners for our modern business estate", Christoph Blume, speaker on behalf of management of Düsseldorf International Airport emphasizes. "Airport City is a location of the future for services right on the doorstep of our terminal. It is optimally accessible from everywhere within the region, including via public transport. This is the type of location that the service industry is more and more looking for."
Frankonia Projectentwicklung GmbH will be the first company to take a lease as they will move their "operational headquarters" there. Preliminary talks have been initiated for additional areas. "At this location with its superb infrastructure we will quickly find tenants", Martin Hantel, speaker for management at Frankonia Eurobau Projektentwicklung GmbH Co KG is assured.
The attractive business park of the airport with direct connection to the terminal is developing on schedule. Construction work for the Maritim hotel in the federal capital is in full swing. With 533 rooms as well as conference areas for more than 5,000 persons on ca. 6,000 m2 it will be the largest four-star congress hotel in NRW and will open its doors on the 1st of December 2007. In addition, the German Engineers Association “Verein Deutscher Ingenieure” (VDI) is building its head office in close proximity to the hotel. Construction will be finalized also in the middle of next year. As investor, this most important engineering association in Europe has ordered the construction of an own building with ca. 14,000 m2. Underground car park P8 has been operational since autumn 2005. Car park P8 offers ca. 1,850 parking spaces across three parking levels. The entire traffic infrastructure provision for "Airport City" has been completed this spring.
Additional projects such as the Porsche Center of the Gottfried Schultz Group as well as various buildings of other project developers are currently being built.
Real-estate development is an important component of the concern strategy for Düsseldorf Airport to continue to expand the location. Center piece is the development of Airport City which will arise on a 23 acre property owned by the airport by 2013. Airport subsidiary Flughafen Düsseldorf Immobilien Verwaltungs GmbH has acquired this land and will execute the development, planning, and infrastructure provisioning. The property will then be sold to investors which will realize construction.
Frankonia Eurobau AG takes on a leadership position in the German development market. Frankonia is specialized in the development, realization, and marketing of high-spec premium locations and premium projects and as a full-service real estate provider and real estate investment house, covers the end-to-end value-added chain in real estate.
Frankonia identifies, builds, markets, and manages high-value city quarters with residential, office, retail, and hotel real estate with value-adding utilization and service concepts.
IMMOFINANZ AG was founded in 1990 and is the leading real estate company in the center of Europe. IMMOFINANZ is listed in the Prime Market on the Vienna Exchange and is one of the largest public real-estate companies in Europe. The real estate portfolio currently encompasses 2,876 objects from the residential, office, retail, logistics, garages, and hotel domains with 12.5 million m2 of effective surface and a market value of ca. 17.1 billion euro. Core markets for IMMOFINANZ in the West are Austria, Germany, and Switzerland. In the East the company has made large investments in Central, Eastern and Southern Europe as well as Russia and the Ukraine.