21st Austria weekly - UBM (17/02/2020)

UBM: Austrian based hotel developer UBM Development is expanding its office and hotel pipeline in Germany with a further major project. At a central location in the Europaviertel between the trade fair grounds and main railway station, UBM (75%) is developing the new FAZ Tower together with the Paulus Immobilien Group (25%). The entire 18-storey office tower will be rented by FAZ after completion. The site will also include a 350-room Leonardo Hotel. The planning is the work of the Berlin architectural office Eike Becker_ Architekten. “With its exceptional architecture in the form of a double-H and a prestige tenant, the FAZ Tower represents a milestone for UBM in Frankfurt“, comments Thomas G. Winkler, CEO of UBM Development. “Our hotel expertise is well known throughout Europe, but we are just as successful in developing offices. After Zalando in Berlin and Scout24 in Munich, we are now realising the third headquarters for a prominent company in Germany within a very short time“, adds Winkler. This acquisition fits perfectly with UBM’s strategy to increase the focus on major projects. Construction has already started, and completion is scheduled for 2022. Consequently, a positive contribution to UBM’s earnings growth is expected in the near term. “We followed our record year in 2019 with a forecast for a further increase in earnings. Through projects like this with sale proceeds of a quarter billion euros, we intend to keep this promise“, states Winkler in conclusion.
UBM: weekly performance: -0.61%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (17/02/2020)

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1. UBM Development entwickelt den FAZ-Tower im Frankfurter Europaviertel. Das architektonisch eindrucksvolle Großprojekt wird neues Headquarter der Frankfurter Allgemeinen Zeitung (FAZ) und umfasst auch ein 350 Zimmer-Hotel. Credit: bloomimages

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