Presentation of new Quartier Belvedere

Corporate news

At the real estate and investment fair Real Vienna the unique project was presented.

At the real estate and investment fair Real Vienna yesterday, one part of Vienna’s largest urban development area officially received its new name – “Quartier Belvedere”. This was the first presentation of the new project – part of the new Vienna Central Station development – introducing the overall concept and the first models of the new district.

Prestigious investors and partners including Erste Bank, Erste Group Immorent, ÖBB, PORR Solutions, Seeste Bau AG and Sparkassen Immobilien AG are working closely together with the City of Vienna to ensure a consistent and holistic mix of urban development across the various development plots with respect to types of use, infrastructure, transport links, and marketing and culture. The various building plots and the models for their use were presented publicly for the first time, marking the symbolic birth of the Quartier Belvedere.

At the presentation Maria Vassilakou, Deputy Mayor of Vienna and Councillor in charge of urban development and traffic, described the importance of this project: “The new Central Station will be Vienna’s new calling card. This gives the Quartier Belvedere a special role as gateway to the city. I am pleased that the project the investors are presenting includes planning for public spaces and reflects the needs of Vienna’s people from the outset. The cultural axis we are aiming to establish here underlines the aim – to create a new and dynamic urban area with a high quality of life.”

New urban development in the heart of Vienna

Quartier Belvedere will accommodate a mix of office, residential and retail properties on a site between the future Vienna Central Station, the Schweizergarten and the Wiedner Gürtel. Its size, location and excellent access to public transport make it a unique development. Renowned architects including Albert Wimmer and Jabornegg & Pálffy have contributed to the urban master plan. Outstanding designs for various building complexes have also been submitted by architects Henke & Schreieck and Renzo Piano. The planned development includes a total of 550,000 m² for offices, hotels and services. In the southern part – the Sonnwendviertel – 5,000 new apartments and a modern educational campus for children from zero to 14 years are being planned around an eight hectare park. This will spur the revitalisation of neighbouring districts, and with state-of-the-art infrastructure for travelling, working and living set the trend for the urban development of Vienna as a whole.

Quartier Belvedere is an urban opportunity of a lifetime, designed to create a new dynamism between Vienna’s Third, Fourth and Tenth Districts and to contribute new impulses to urban development in culture, economic efficiency, quality of living and working, and the environment. It is planned to develop the theme of the new urban area as a cultural axis within Vienna. The partners in the project are working together towards an implementation that is as broad and harmonious as possible.

Excellent location

The park “Schweizergarten” is located right next to the new urban area, and together with Schlosspark Belvedere forms a green isthmus connecting the site with Vienna’s city centre only 2 km away. The proximity of the gardens is reflected in the architectural design, with green and recreational islands situated on a boulevard with attractive ground floor piazzas. Member of Erste Group’s Management Board Herbert Juranek: “Together we want to create something unique for Vienna, something that will add to its reputation beyond its borders, and will bring a new dynamism and quality of life inside the city.”

Vienna Central Station

The new Central Station will make Vienna a multi-modal hub in the European rail network that will be of major importance to both national and international rail traffic. The station will allow the uninterrupted transit of trains on the trans-European rail system on both north-south and east-west axes. Travellers will benefit from faster train services and enhanced travel comfort thanks to easier transfers and optimal connections, as well as enjoying the most modern standards of barrier-free access. Claus Stadler, managing director of ÖBB Immobilienmangement GmbH: “With the former railway property all around the Central Station, the ÖBB are making a major contribution to the development of high-quality inner city urban areas. I am particularly happy to have found such outstanding partners in our investors, who are working with us and the City of Vienna to developing Quartier Belvedere into an attractive new urban area.”

The Central Station’s functions will not be limited to transport: inside the concourse and the immediately adjoining building complexes, a Bahnhofcity will be created, a completely new dimension in shopping, services, catering, hotels and offices. Plans include a spectacular shopping centre with approximately 20,000 m² of retail space located in the concourse and under the tracks. Modern architecture will ensure spaciousness and uncluttered access; high-quality materials and a tailored mix of businesses will guarantee quality time to visitors. The former railway station is being transformed into a multi-functional services centre for travellers, local residents and businesses. Once again, the railway station will become a meeting point. ÖBB-Immobilienmanagement GmbH has the overall responsibility for project development, and for the clearance, development and disposal of all ÖBB’s vacant land in and around Vienna’s Central Station. The proceeds of disposal of the development land are used to finance the Central Station. The selection of the right mix of businesses for Bahnhofcity draws on the expertise of German shopping centre experts ECE, who are responsible for letting the retail premises and will take over management of the centre.

Seeste project

Opposite the 20er-Haus, Seeste Group are planning a total of eight buildings with different types of use. The buildings are being designed by international star architect Renzo Piano. The overall architectural design is geared towards creating lines of sight, vistas and landscaped gardens in the open spaces under the main mass of the buildings. The buildings will be a mix of hotel, residential and office property with a total of 60,000 m² of floor space. Member of Seeste Management Board Möstl: “It is certainly something new for Vienna to have several project developers joining up to form a top-notch consortium to ensure that the development of this new part of the City of Vienna is a success.”

Living and working next to the Schweizergarten

“Living and working next to the Schweizergarten" is the name of Erste Group Immorent’s multi-purpose development on the plot between the Seeste project and the Erste Campus. The project includes some 200 upmarket non-subsidised apartments together with attractive office space and spaces for special uses. The concept calls for three building sites with a total of around 116,500 m² floor space.

Erste Campus

While the new Central Station will bring European transport axes together, right next door the Erste Campus will become the new corporate headquarters for Erste Group and consequently a business location of international importance. The building on the site of the former Südbahnhof railway station will provide at least 4,000 jobs, and house services and leisure facilities on up to 70,000 m² of floor space.

Austria Consortium in the Quartier Belvedere

A consortium made up of Erste Group Immorent AG, PORR Solutions Immobilien- und
Infrastrukturprojekte GmbH and Sparkassen Immobilien AG is developing a project inside the Quartier Belvedere site with the working title Austria Consortium Property. The plot is at the very centre of the new quarter, located between Bahnhofcity, Erste Campus and the Central Station. The project will include approximately 136,000 m² of floor space. Friedrich Wachernig, member of Sparkassen Immobilien AG’s Management Board: “We are happy to be part of this consortium of very distinguished partners and to be participating in the development of what is currently without a doubt the most exciting and promising urban area in Vienna. As a property investor, we recognise in this location in our home town outstanding potential as a sustainable investment for our shareholders.”

The overall concept for this core plot in Quartier Belvedere foresees that the majority of the properties will be offices and hotels. The mixture of property use types in Quartier Belvedere – including support for the comprehensive range of services necessary – is the responsibility of a number of different teams organised around the participating investors. Overall urban development and architectural design concepts and open spaces linking the individual projects complete the picture. Friedrich Gruber, Managing Director of PORR Solutions: “The shared goal of the various teams was and will be to work together in the interests of the development as a whole. As a successful developer with many years of
experience, PORR Solutions is leading a team with concentrated skills and expertise in property use mix and urban area management.”

Erste Group
Erste Group is the leading financial services provider in Central and Eastern Europe. More than 50,000 employees in 3,200 branches service 17.7 million customers in eight countries (Austria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia and Ukraine). At 31 March 2011 Erste Group’s total assets totalled EUR 213.5bn, net profit was EUR 260.6m and the cost/income ratio was 50.2%.

Erste Bank und Sparkassen is Austria’s largest provider of financial services. About 16,000 employees in more than 1,000 branches and 170 bank offices service more than 3 million customers. In Austria, its market share is roughly 29%.

Erste Group Immorent AG
Erste Group Immorent AG is Erste Group’s real estate specialist. On the basis of the skills and expertise developed in Austria, since 1970 it has financed commercial properties and engaged in project development in 12 countries in the CEE/SEE region. Immorent has managed and completed over 10,000 projects over the years. Customers and business partners can rely on Erste Group Immorent AG as a trustworthy partner with a reputation for sustainable value and quality.

ÖBB-Infrastruktur AG and ÖBB-Immobilienmanagement GmbH
ÖBB Infrastruktur AG is responsible for planning, constructing and financing ÖBB’s infrastructure and for the safe and punctual operation of railway services. ÖBB-Immobilienmanagement GmbH – a wholly owned subsidiary of ÖBB Infrastruktur AG – operates as full services provider for the ÖBB Group, and is also active in the free market. It is responsible for the cost-effective development or disposal of properties no longer required for railway operations, and for managing railway stations, offices and apartments. and

PORR SOLUTIONS Immobilien- und Infrastrukturprojekte GmbH
PORR Solutions is a subsidiary of the PORR Group and is in charge of project development for the 140-year old company. The focus is on sustainability, efficiency, experience and commitment, from the initial idea to implementation, operation, facility management and subsequent disposal. PORR Solutions offers solutions for all the phases of a project’s life cycle, and is well-known for the highest standards of business safety and quality of implementation. It provides a successful, competent and reliable team that will work to find the solutions to the most complex of challenges.

Seeste Bau AG
The private property developer and project manager Seeste Bau AG with offices in Giesshübl near Vienna, Bolzano, Verona and Leipzig has been active internationally for more than 40 years. Seeste develops residential, commercial and investment properties, as well as international holiday and ski resorts in countries such as China. Effective, economical solutions, sustainability and energy efficiency are the cornerstones of every project.

Sparkassen Immobilien AG
As Austria's first stock exchange listed real estate investment company, Sparkassen Immobilien AG has stood for experience, a balanced portfolio and sustainable growth since 1987. The Company’s strategic core shareholders Erste Group and Vienna Insurance Group are two of the region’s largest financial services groups. Sparkassen Immobilien AG is invested in residential, office, hotel and retail property in Austria, Germany, Czech Republic, Slovakia, Hungary, Croatia, Romania and Bulgaria.