Since its foundation in 1951, the BUWOG Group has developed from a not-for-profit residential construction company into a significant player on the German-speaking residential property market. More than 68 years of extensive experience in all areas of construction and housing also ensure “happy living” today.
If “happy living” is to be more than a mere slogan, awareness of a profound responsibility for human beings and the environment is required. “Not only do we consider residential real estate more than purely an economic asset; we also place particular emphasis on ecological and social aspects. This basic approach reflects a sense of conscience as well as respect for people and the environment and shapes corporate culture as well as concrete implementation in every area of business”, Daniel Riedl says, in summary. Since the successful takeover of BUWOG by the German company Vonovia SE, former BUWOG AG CEO Riedl has been a member of the Executive Board, where he is in charge of all BUWOG operations in Austria and BUWOG development in Germany.
Two business models – one asset class
Anyone who says BUWOG, means housing – whether in Austria or Germany. There are differences in the business model: located in Austria, BUWOG Group GmbH is based on the business segments of Asset Management, Property Development and Property Sales and sets itself off from comparable companies on the Austrian residential real estate market with its broad, integrated model. The BUWOG Group currently has around 21,300 units in its portfolio and about 5,100 residential units in the development pipeline, which is focused on the capital city of Vienna.
The core business of BUWOG Bauträger GmbH is the development of high-quality residential real estate with a focus on Berlin and Hamburg. After completion of the residential units, they are either made available for sale or transferred to the holding of the parent company Vonovia SE. Of the approximately 7,000 residential units in the development pipeline, 3,600 are planned for sale and 3,400 for return to the portfolio.
Needs-oriented residential quality with the highest standards
Whether Vienna or Berlin – BUWOG’s development business is geared to the needs and desires of those seeking a home and makes no compromises when it comes to quality. In Berlin, for example, the “52° Nord” project is being built: with a total of 321 rental apartments and 734 privately financed condominiums, a new quarter with direct access to the 600-metre-long waterfront promenade will be built in stages in the Grünau district by 2024. The necessary infrastructure is ensured; for instance a kindergarten has already been completed.
The name of the project “SeeSee”, in Seestadt Aspern, Vienna, says it all: consisting of three components, it comprises a total of 105 rental apartments and 180 privately financed condominiums and is located in the immediate vicinity of the lake. Here, too, BUWOG is involved in the development of the infrastructure: as part of “SeeSee”, a kindergarten and other business premises are being built. Completion is scheduled for spring of 2019.
Further information on BUWOG’s projects can be found under www.buwog.com.
Photo: BUWOG I garner garner plus I schreinerkastl.at