The first part of the Laendyard residential project has been completed: CA Immo handed over 220 rental apartments to the investor ESTRELLA Immobilien Invest AG. Development of the remaining 270 owner-occupied and investment apartments being built on an adjacent plot in a joint venture between CA Immo and JP Immobilien is also proceeding according to plan, with completion scheduled for summer 2018; the majority of the apartments have already been sold. The final building block in the project, situated close to the Lände and Wiener Prater recreation areas, is the ViE office building, which is due for completion by the autumn of 2018.
The residential complex comprising two south-facing buildings, with six and seven levels respectively, was constructed in line with an architectural concept by BEHF. The apartments range in size from 35 m² to 110 m², and all have a private balcony plus a terrace or garden. ÖGNI pre-certification confirming compliance with all sustainability criteria has been obtained. The apartments will be let by JP Immobilien and ÖRAG.
According to Andreas Quint, CEO of CA Immo: “By realising this project we have not only created urgently needed living space in an inner city area but also reaffirmed our expertise and capability as a residential property developer. We have successfully undertaken high-volume construction projects for the residential segment in Munich and elsewhere, and we have big plans. In Munich alone, we have further land reserves earmarked for residential construction with development potential in excess of €1bn. This will be progressively developed over the years ahead and sold on completion.”
