Credit: IMMOFINANZ
Credit: IMMOFINANZ

IMMOFINANZ AND DIETMAR REINDL REACH AN AGREEMENT ON THE USE OF ITS SUSTAINABLE AND AFFORDABLE HOUSING CONCEPT

IMMOFINANZ is concentrating on the strategic growth areas of retail properties and myhive office solutions in the current market environment and has sold the rights for joint use of the development concept for sustainable and affordable housing over single-story buildings to Dietmar Reindl.

This innovative residential concept will now be expanded to include implementation by this former IMMOFINANZ Executive Board member under his own flag outside the IMMOFINANZ Group. IMMOFINANZ retains the right to implement the concept on its own properties at any time and remains the owner of the On Top Living brand.

With its ESG strategy, IMMOFINANZ is pursuing high standards for climate protection, the responsible use of resources, and the respectful treatment of people and the environment. Innovative and sustainable real estate projects will be implemented to meet these ambitious goals. The related projects involve the Group’s leading position on the retail park market in Europe and innovative myhive office solutions as well as the over-building of single-story retail parks with sustainable and affordable housing.

This residential concept developed by IMMOFINANZ sets the highest social and ecological standards for intelligent densification and makes an important contribution to the fight against climate change, ground sealing and exploding housing costs.

“The opening of usage rights for sustainable and affordable housing on standing investments for Dietmar Reindl, who initiated and pursued this project in his function as a former member of the IMMOFINANZ Executive Board, is an important step in the implementation of our portfolio strategy in the current challenging environment. This decision strengthens the focus on our STOP SHOP and VIVO! retail brands and our myhive offices.”

“At the same time, we can support the further development of this innovative residential concept independent of IMMOFINANZ and, in this way, create access to affordable and sustainable housing for as many people as possible. We see this step as a win-win situation for our company, our fellow human beings, and the environment“, explained Radka Doehring, Executive Chairwoman of IMMOFINANZ.

Dietmar Reindl has said: “In recent weeks and months, I have seen great interest and strong demand for this innovative housing concept. The first projects are expected to start in 2023, with Austria as the focal point. The flexibility of the concept will open numerous opportunities for locations and uses. However, the emphasis will remain on sustainability and affordability as well as the fight against ground sealing through the densification of existing buildings. That will make a valuable contribution to creating smart, affordable, and ecological housing.“

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