Project Development

What do we do?

We at Erste Group Immorent have been successful developers of  office and commercial real estate, business and logistics park,  commercial housing construction, municipal and infrastructure projects in Austria and Erste Group’s core markets in CEE for nearly 50 years now. As Erste Group’s sole commercial property project developer, we meet all the essential prerequisites for this role by offering reliability and professionalism, precise and detailed knowledge of the markets we operate in, good contacts with the authorities and a far-reaching network in the construction and real estate sectors. Our aim is for every new property that we acquire or create to make a substantial contribution to enhancing its surroundings and to the environment. We also provide our expertise and skills to assist the property financing activities of Erste Group Commercial Real Estate.

Our role is to identify the potential in the property portfolio held by EGI and Erste Group. If upside potential offering good commercial prospects is identified, these properties are then developed with the aim of selling them on at a profit once the project - including renting out the space - has been completed.
 

What’s important to us?

We are seen as a trendsetter in resource-conserving project development and as a boutique developer for green buildings. That means we deploy only the very highest standards of green building technology for our own building projects on land we have acquired, or we develop buildings to have a positive energy footprint. We attach particular value to:

  • sustainability
  • environmental protection
  • efficient and environmentally friendly use of resources
  • intelligent building and energy management
  • flexible room and usage concepts low or zero-energy buildings
  • innovative building technologies

All the buildings that we have built in the last 5 years have been awarded ÖGNI / BREEAM / klimaaktiv certification and classified as “very good” or “excellent”!

We are thus making a vital contribution to nurturing prosperity in our region and supporting regional development; and we see ourselves as a part of forward-looking civil society.

In addition to this, we have defined comprehensive internal procurement standards for our business area. All contracted services are only awarded once the service providers have gone through the relevant tender and quality assurance procedures. In this way we can assure total transparency and traceability for our clients.
 

How do we deal with development risks?

A major factor in successful project development is keeping the development risk as low as possible; and it boosts clients’ confidence in our building projects. One of the ways we achieve this is by always considering/deploying the following measures:

  • Turning the building to account even before the start of construction, by selling it or pre-letting a good proportion of floor space
  • Implementing large-scale projects in multiple construction phases
  • Avoiding concentration risk through mixed-use developments (office, commerce, logistics, retail)
  • In individual cases, also entering into joint development projects through joint ventures with (best in industry) partners
     

What range of services do we offer?

We take care of every step, from the virgin plot or existing property through to the turn-key new development, including letting the floor space. The steps that have to be taken are managed, sub-contracted and processed by us working closely with our clients and business partners.

  • Location and market analyses
  • Optimisation possibilities and development surveys
  • Clarification of issues with public authorities ahead of deadlines
  • Feasibility studies
  • Marketing plans
  • Monitoring land use procedures
  • Infrastructure measures (provision of services/utilities)
  • Architect selection/planning management
  • Commissioning of construction services
  • Management and coordination of construction in line with the stipulated budgets and deadlines
  • Utilisation management (lettings)
  • Hand-over of the projects to the end users, owners; managing the transition to finished assets/inventory
  • Extensive pre-project research, investigations and analyses
  • Commissioning of services by way of objectifiable tendering processes (multiple quotations, best bid principle)
  • Wherever possible, commissioning of services on a fixed-price basis (cost certainty)
  • Ongoing cost, deadline and quality controls in both the planning and construction phases