S IMMO: Successful lease agreements in SEE
New tenants in Serdika and Sun Offices
Stock exchange listed S IMMO AG has again achieved letting successes in Romania and Bulgaria – two markets that continue to be economically challenging. The largest multinational softdrink company has signed a lease for approximately 2,300 m² in Serdika Offices, the office complex above Serdika Center in the heart of Sofia. This means that about 850 employees will work in the most modern office space in Sofia, awarded with a DGNB Gold certificate. The property is expected to be fully let by 2014.
In Sun Offices in Bucharest S IMMO AG also has acquired well-known new tenants, further lease contracts are imminent. The office space then has an occupancy rate of nearly 80% and the complex is expected to be fully let by the end of this year. Friedrich Wachernig, Member of S IMMO AG’s Management Board comments: “The successful letting to well-known international companies – particularly in difficult markets – underlines the quality of our properties. This confirms our strategy of only investing in top locations in EU capitals.”
Strategic orientation for 2013
These lease agreements are perfectly in line with S IMMO AG’s focus for 2013: the ongoing optimisation of the property portfolio. In addition to successful management and letting activities, this also means taking advantage of opportunities for property transactions. In 2012, income from property disposals totalled EUR 130m, and in 2013 S IMMO AG is also planning to dispose of approximately 5% of its portfolio. The company also plans to purchase properties – particularly in Germany. Ernst Vejdovszky, Member of S IMMO AG’s Management Board: “We expect to take advantage of several opportunities to make opportunistic acquisitions in Berlin: We are interested in completed properties as well as in plots of land for developing freehold apartments.” In Vienna, S IMMO AG will concentrate its energy in the coming years on developing the Quartier Belvedere Central project next to Vienna’s new Central Station.
In the capital markets, S IMMO AG will continue its repurchase programmes for shares and participating certificates. With the increasing earnings made possible by efficient management of established properties, the Group will continue its dividend policy initiated last year.