Importate Real Estate

S IMMO AG invests EUR 75m in Bucharest projects

Austrian real estate investment company S IMMO AG announces exceptionally positive results for the first half-year 2016 and further development plans in Romania. The company will invest roughly EUR 75m in the development of THE MARK office project and the remodeling of Sun Plaza shopping centre in Bucharest, Romania.

The first six months of the 2016 financial year were extremely successful for S IMMO AG. The company’s total revenues amounted to EUR 95.3m (HY 2015: EUR 92.2m), an increase over the prior-year figure. The rental income included in this figure reflects the property purchases completed since the beginning of 2015 and came to EUR 58.5m (HY 2015: EUR 54.6m). SEE markets (including Romania, Croatia and Bulgaria) add up to 30.2% of the total rental incomes, followed by Germany (27.3%) and Austria (25.5%).

Overall, EBIT was up significantly on the previous year at EUR 145.9m (HY 2015: EUR 48.9m). As a result, EBT amounted to EUR 107.3m (HY 2015: EUR 26.9m). The net profit for the period increased to EUR 85.5m (HY 2015: EUR 20.9m). Earnings per share improved once again and came to EUR 1.27 (HY 2015: EUR 0.30).
Outlook for 2016

Romania is an important market for S IMMO AG’s further expansion in Southern and Eastern Europe. Two of the company’s current key projects are located in Bucharest: the development of the promising office property called THE MARK has just started, while the reconfiguration of the Sun Plaza shopping centre, started at the beginning of the year, is proceeding according to plan.

With regards to other countries within the European Union, Germany remains a key market for S IMMO AG and the company is also active on its home market Vienna.
Investments in Romania

To date, S IMMO AG invested over EUR 200m on the local market, including landmark developments such as Sun Plaza shopping centre and Sun Offices in the South of Bucharest and Novotel Bucharest Business Centre hotel on Calea Victoriei. In addition, the company is currently reconfiguring and expanding Sun Plaza shopping centre and started the construction of THE MARK office project in the proximity of Victoriei Square. In total, these properties represent a built area of over 250,000 m².

THE MARK – project overview


THE MARK is the first significant class A office project to be built in Bucharest CBD after a pause of approximately 10 years. The project has a total built area of 43,000 m² and a combined GLA of approximately 25,500 m², comprised in two class A+ buildings. Located on the new Uranus boulevard, at the junction of Calea Grivitei and Buzesti street, THE MARK will be a new business destination in Bucharest as well as a new visual reference point in the city due to its outstanding location and innovative design approach adapted to the actual urban living.


The investment value for THE MARK is estimated at approx. EUR 45m starting with construction. The construction works started in July 2016 and are expected to be completed in the second quarter of 2018.

Sun Plaza – project overview

Opened in February 2010, Sun Plaza is the dominant shopping centre in South Bucharest, with a built area of approx. 200,000 m2 and a leasable area of over 80,000 m2, managed by CBRE Romania and owned by S IMMO AG. After the remarkable performance achieved in its six years of existence, Sun Plaza took on a new challenge in 2016: a refurbishment process that will significantly improve the retail mix and shop count. The upgrading process of Sun Plaza started in the first quarter of 2016 and is expected to be completed in the first quarter of 2018. The remodeling works will bring 11,000 m2 of high-quality retail and leisure space for up to 40 new stores.

Sun Plaza is now in its third year with 100% occupancy and 85% of the additional space to be opened in 2018 is already pre-let. Moreover, Sun Plaza’s representatives expect to have the entire project fully occupied by the end of the reconfiguration process. The total investment value for Sun Plaza remodeling is estimated at EUR 30m.

According to Friedrich Wachernig, member of S IMMO AG’s Management Board, “Romania continues to spur a high investment potential, due to the long-term recovery of the market, the rising GDP per capita as well as the decreasing unemployment rate. S IMMO AG thus focuses on long-term developments in the country, with THE MARK and Sun Plaza projects having already started and advancing according to schedule. We are extremely optimistic for the evolution in the upcoming years.”


As Austria’s first stock exchange listed real estate investment company, S IMMO AG has stood for experience, a balanced portfolio, and sustainable growth since 1987. The company invests in commercial and residential properties in Austria and Germany as well as Central and Southeastern Europe. S IMMO AG’s strategic core shareholders are Erste Group and Vienna Insurance Group.

Related posts

Liebrecht and wooD investește 25 de milioane de EURO în dezvoltarea celui de-al doilea FASHION HOUSE OUTLET CENTRE în București

Papuc Irina

Marea întoarcere la birouri. Cât de curând? Câți dintre noi?


Subvenția pentru motorină – trimestrul IV 2015

Transilvania Business

Un nou chiriaș pentru AFI Tech Park  

Ionut Oprea

Peste 50 de designeri la FFW 2016

Oasis Retail Development se asociează cu grupul austriac Supernova și demarează proiectul Prima Shopping Center Sibiu


CTP investește în facilitățile și infrastructura din CTPark Bucharest West

Stefana Muresan

Nord-Vestul se apropie de București la locuințele noi

Nora Dumitrescu

Budapest at MIPIM 2017

Ionut Oprea

White Star Real Estate  a preluat Liberty Technology Park de la Fribourg Development

Ligia Voro

ELCO lansează o nouă gamă de cazane industriale adaptată noilor cerințe din piața locală de construcții

Ionut Oprea

MHP Consulting Romania a semnat contractul de închiriere pentru 5.300 mp spații de birouri în Record Park

Ligia Voro

Clujul, cea mai dezvoltată piață de birouri din orașele regionale ale țării

Nora Dumitrescu

Transilvania, raiul brânzeturilor de calitate (II) – La Colline

CA Immo aduce arta stradală și în Orhideea Towers

Papuc Irina

Doua premii castigate de Optim PM in cadrul galei SEE Real Estate Awards 2019

Stefana Muresan

Explozia cererii online alimentează creșterea P3

Stefana Muresan

CIT Grup, leaderul national în distribuție de echipamente IT refurbished, achiziționează sediul Nokia din Timișoara și se lansează în business-ul imobiliar


Circa 190.000 mp de centre comerciale vor fi livrați în 2019

Stefana Muresan

Una dintre firmele lui Ion Ţiriac ridică un nou complex imobiliar mixt pe locul fostului abator al oraşului

Robert Bloancă

CBRE: raport Q1, cum au evoluat tranzacțiile și ce efecte ar putea avea pandemia

Papuc Irina

Speedwell a semnat contractul cu Bog’Art pentru MIRO, noul proiect de birouri din București

Ionut Oprea

Analiza DTZ: retail in Bucuresti

Ionut Oprea

De 20 de ani, VELUX România construiește povești din mansarde

Nicolae Pop

Leave a Comment