Austrian real estate enterprise Citec in Berlin on expansion course

CITEC in Germany managed AG Andreas Ruthensteiner (openPR) - Immobilienportfolio since at the end of of 2004 on 160 million euro doubled - further Zukäufe within the old building range in the city planned - economic recovery in Germany affects property market further positively

Vienna. The Citec real estates in Germany AG, market leader with acquisition, development and letting of old building living real estates in Berlin, continues its expansion course in the German Federal Capital. The Austrian enterprise, based of Andreas Ruthensteiner, Dr. olive young nickel and Franz Hartl with seat in Vienna, doubled 2004 its Immobilienportfolio since at the end of. Since March 2004 in the German capital Berlin active Citec has approximately 65 real estates with a total effective area of approx. 150,000 m2 and a total value of approximately 160 million euro. Due to good basic conditions and high demand at the citizen of Berlin housing market further selective Zukäufe of the Viennese real estate experts is planned.

The Austrian real estate experts of the Citec real estates in Germany AG, market leader with acquisition, development and letting of old building living real estates in Berlin, doubled their Immobilienportfolio since end of 2004 on 65 real estates with a total effective area of 150.000 m ². The momentary value of the old building houses consisting to 85 per cent of floor spaces amounts to at present 160 million euro. „We find optimal basic conditions within the range of the Altbauimmobilen in the city in Berlin since over two years. Average increases in value of over 15 per cent per year confirm our way “, inform Andreas Ruthensteiner, executive committee of the Citec real estates in Germany AG.

Its present Portfolio plans to supplement in Vienna the residents Citec, in which the Austrian university Credit daughter BA-CA took part to 20 per cent, further by further selective Zukäufe in Berlin. „In the year 2006 the Citec can register a pleasing rate of growth of 30 per cent - in particularly good situations even up to 40 per cent since the purchase “, so Ruthensteiner further. In the focus above all real estates are located in good and very good situations, which an attractive Wertsteigerungspotenzial exhibits.

Meaning of Berlin rises
Due to the present positive economic growth Berlin increased in meaning further and develops ever more for the Lifestyle and culture metropolis of Europe. At present prevails active investment activity of international investors, who assume citizen of Berlin adapts the price level medium-term to other European metropolises. The removal of all government offices from Bonn to Berlin, not locked yet, results in a further potential to housing demands in the city and thus a lasting increase of the renting level.

Citec real estates in Germany AG
Likes. Andreas Ruthensteiner
Executive committee
Park ring 12, Top 40
1010 Vienna
Tel.: +43/1/713 14 13-0
Email: andreas.ruthensteiner@citec.at

Prime Consulting GmbH
Public relation
A-1090 Vienna, Währinger road 2-4/1/48
Tel.: +43/1/317 25 82-0
Email: office@prime.co.at
Internet: www.prime.co.at

Over Citec real estates in Germany AG
Citec real estates in Germany AG with seat in Austria is the prominent enterprise in the range acquisition, development and letting of old building living real estates in Berlin. The enterprise founders Franz Hartl, likes. Andreas Ruthensteiner and Dr. olive young nickel focus their Immobilienportfolio since end of 2004 on the German Federal Capital. At present about 65 real estates with a total effective area of 150.000 m are located ² and to a value of 160 million euro in the property of the society with seat in Vienna.

Photo electronically under: www.prime.co.at/ruthensteiner.htm

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