Aareal Bank wins CEE Real Estate Quality Award 2004 (DE)

Aareal Bank has been awarded as the best Banking and Finance Company in Central and Eastern Europe’s real estate sector in the year 2004.

A jury of 16 leading real estate experts from across the CEE region â€" e.g. of Jones Lang LaSalle, King Sturge, DTZ, ING, Colliers, CB Richard Ellis, DB Real Estate â€" in total granted 16 awards for separate categories. For this purpose they reviewed more than 60 nominated companies and deals from Moscow to Bucharest assessed against a detailed set of criteria.

The winners were announced at a ceremonial gala at the Intercontinental Warsaw Hotel last Friday. The annual event, organized by the editors of the Central & Eastern European Real Estate Guide, was attended by over 300 top real estate experts.

Karl Wilson, General Manager of Aareal Bank´s subsidiary in Poland stated: “Year 2004 was a successful one for Aareal Bank in the CEE-region. We are delighted to receive this award as a result of our co-operation with the best investors in the CEE region”.

Aareal Bank has been active in the Czech Republic and Poland with a local presence for many years. The bank also finances properties in Hungary, the Slovak Republic and in Greater Moscow. In 2004 Aareal Bank has financed the construction of the Arkadia Shopping Centre in Warsaw for example, which is the biggest shopping center in Poland. Furthermore the bank provided the financing for the Galeria Kazimierz Shopping Centre in Krakow as well as for the Silesia City Shopping Centre in Katowice.

Another prime example is the acquisition financing of the office and hotel complex Carlton in Bratislava, Slovakia. “We intend to expand our presence in CEE further, working together with existing and new clients. Quality thereby takes priority over quantity”, Dr. Ralph Hill, Board Member of Aareal Bank comments.

Source: Aareal Bank

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