HVB Immobilien AG launched

On September 6, 2002 HVB Immobilien AG, the HVB GroupÂ's new real estate ownership and management company, is being launched in Munich. HVB Projekt GmbH, HVB Tecta GmbH, Plan Trade GmbH, HVB Gebäude KG - as an affiliated company - and some 200 property and holding companies will be concentrated under the roof of this new company.

The core business segments of the new company are:

Real estate portfolio management
Development, planning and construction of property
Management of company and rented real estate (as general lessor and operator in the HVB Group and as provider of facility management services)
Real estate marketing

With this structure, the bank has created the conditions for making optimum use of its property holdings within the scope of the bankÂ's corporate policy and strategy in order to boost revenue while simultaneously reducing costs. With its core business segments, HVB Immobilien AG is pursuing the classical corporate real estate approach.

Already today the company has a worldwide real estate portfolio of approximately 1,300 properties and a total area of 2.2 million square meters. Among the developed properties are such well-known projects as 'Fünf Höfe' in Munich, Oberbaum City , the 'Park Kolonnaden' at Potsdamer Platz in Berlin, and Athlon-Place office park in the City West in Frankfurt.

A staff of roughly 450 is employed by the parent bank and HVB Gebäude KG at headquarters in Munich and in branch offices in Berlin, Stuttgart, Nuremberg, Hamburg, Leipzig, Dresden, Düsseldorf, Ingolstadt and Frankfurt. Members of the Board of Managing Directors are Chairman Hartmut Wagner (Real Estate Management and Project Development), Bernhard Buckl (Finance and Portfolio Management) and Hugo Gensler (Sales and Personnel). Dr. Diether Münich is the Chairman of the Supervisory Board.

(source: HypoVereinsbank)

Related News