IMMOFINANZ will present a new residential brand of residential projects „On Top Living“ at MIPIM, the world’s largest real estate fair in Cannes.
Under this brand, IMMOFINANZ will invest 1 billion EUR to develop up to 12,000 smart and sustainable apartments for rent. The newly introduced On Top Living brand will be developed on top of its retail parks STOP SHOP across Europe to create cheap and environmentally friendly living spaces. A pilot of the project has been completed in Vienna and the next project will be in Belgrade’s municipality Borča.
“The concept of On Top Living symbolizes smart living. Our future tenants will benefit from a flexible space concept, offering a pleasant interior and the highest level of energy efficiency. The concept of alternative mobility will have affordable rents in the immediate vicinity of local retailers and recreational facilities. In this way, we will meet the housing needs of many people, while making a key contribution to the fight against climate change, soil sealing, and rising housing costs, “explains Dietmar Reindl, Member of the Executive Board of IMMOFINANZ.
Smart living following the highest social and environmental standards
On Top Living is a smart living concept that will have a wooden construction. Future tenants will be able to choose from a wide range of living concepts: studios, family apartments, and apartments that include home offices or separate units for guests. Numerous common spaces such as social spaces, playgrounds, or roof gardens will aim to bring a lively spirit to the living spaces and promote social networking.
On Top Living apartments will not only offer comfortable accommodation where tenants will be able to enjoy life, but will also be climate neutral. The units will come with large photovoltaic devices, geothermal energy, and tenants will also have access to stations for electric chargers and bicycles.
Roofs and facades decorated with plants will complement the concept of sustainability while at the same time will provide a natural air conditioning system. The wooden construction will also bind carbon dioxide and the wood will come exclusively from certified, sustainable forestries.
Another smart advantage of On Top Living apartments is the fact that its prefabricated modules reduce construction time, noise, and emissions.
Sustainable financing to strengthen its competitive position
Stefan Schönauer, Member of the Executive Board of IMMOFINANZ confirmed that they will invest 1 billion euros in the projects during the next five to seven years:
:“On Top Living is another great example of how we are implementing our sustainability principles into concrete projects. In total, we will invest around 1 billion euros in the expansion of On Top Living in the next five to seven years within the countries in which we operate. We also want to resort to an increasing degree of sustainable and social financing. Due to the growing demand of banks and investors for sustainable investments, this promotes rapid expansion and strengthens the competitive position of IMMOFINANZ”, said Stefan Schönauer.
Up to 12,000 On Top Living apartments in the medium term
On Top Living will be developed on top of existing STOP SHOP retail park locations owned by IMMOFINANZ. The company owns 100 STOP SHOP retail parks in ten European countries and is planning to expand its portfolio to about 140 locations in the coming years.
A pilot project has been completed in Vienna, and the next On Top Living project will be developed in Belgrade’s municipality Borča.
“As previously announced, we plan to build about 12,000 new apartments. The planning phase of the pilot project in Vienna has been completed, and another pilot project is planned for the settlement of Borča in Serbia”, concludes Dietmar Reindl.
IMMOFINANZ is a commercial real estate investment and development company whose activities are focused on eight major European markets: Austria, Germany, Poland, the Czech Republic, Slovakia, Hungary, Romania, and the Adriatic region.
The company’s main activity includes real estate management and development. Its project portfolio includes STOP SHOP retail parks, VIVO! shopping centers and myhive office spaces. Its real estate portfolio is worth about 5.0 billion euros, which includes about 210 properties.
IMMOFINANZ is listed on the stock exchanges in Vienna (leading AT index) and Warsaw.