21st Austria weekly - UBM (12/01/2022)

UBM: UBM Development and JPI have sold the property at Kelsenstrasse 5 & 7 in Vienna's third district for Euro 51.5 mn. The buyer is a project company owned by Soulier Real Estate. Plans originally called for the development of a hotel and office complex at this site. As a result of the corona pandemic, UBM withdrew from the development of hotel projects and shifted the focus of its strategy to green. smart. and more. This transaction takes its place in a series of strategic divestments in Vienna: for example, the sale of a project directly adjoining UBM's headquarters to Buwog and the sale of an investment in the Muthgasse project to the project partners, Wiener Städtische und Signa.UBM: weekly performance: -3.89% (From the 21st Austria weekly ...

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