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Accomodations in Austria

Cosmo and Nanu


Wohnhaus project - largest residential building in Austria

The constructing firm from Lauterach (Vorarlberg) is investing in a building project in Poland.

An office complex in Warsaw worth 77 million Euros has already been completed and sold. For a price of 40 million Euros, a Hilton hotel will emerge in Warsaw.

The last few months have seen lost of changes in the construction firm Schertler-Alge. The name was changed to "I+R Group", the company acquired new headquarters in Lauterach – a building which cost seven million Euros. It conforms with the highest ecological standards.

The Schertler group, which holds 50 percent of I+R Group, has been active in Poland for eight years already. Poland is defying the global economic crisis with a growth of four percent. Manager Reinhard Schertler said the capital Warsaw is a attractive place to invest – American corporations have been relocating their European offices to the east.

Scherlter is also taking advantage of the favourable hour in Poland and is building together with a Viennese partner under the entity "S+B Group". The "Zebra Tower" in the centre of Warsaw has recently been completed., worth 77 million Euros. That's the biggest project in the firm's history. Since then, the building has already been sold on to an investor.

The next project in Warsaw is already under way: a polish building owner ran out of money during the construction phase. S+B bought the rough building in the heart of the centre and is now building a "Hampton by Hilton" hotel. Hilton wants to offer first-class room for a reasonable price and attract a young audience. The contract is said to be all wrapped up. The investment amounts to 40 million. The hotel should be inaugurated early next year. The managers are confident the occupancy rates and therefore the rent-ability of the 300 rooms is guaranteed.

But it's not just in Poland that millions are being invested. The newest S+B project is planned in Vienna. With its 50 floors the largest residential building in Austria, work on the Danube-Flat should start at the end of 2014. Investments amount to 150 million Euros.

Vienna Times

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