Austrias Immoeast Invests CZK 6 Billion in Czech Real Estate

14. März 2007, 00:00

Austrias Immoeast invested CZK 5.9 billion (EUR 210 million) in real estate in the Czech capital Prague and in the...

Austrias Immoeast invested CZK 5.9 billion (EUR 210 million) in real estate in the Czech capital Prague and in the city of Brno, the company said.

The company is part of the group Immofinanz.

The funds were invested in office space and shopping facilities, the press release reads.

The bulk part of the investment was injected into office space, while the combined new area in Immoeasts portfolio stands at 110,000 sq m.

Some 15 per cent of the companys real estate portfolio is located in the Czech Republic.

Immoeast set aside EUR 5 billion for investment in Central and Eastern Europe this year, with the Czech Republic being among the preferred destinations.

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