This complements the company’s portfolio with another strong brand, after its successes with the flexible offices myhive, with the retail parks STOP SHOP, and with the shopping centers of VIVO!
IMMOFINANZ expands its real estate portfolio to include affordable and sustainable housing. The newly presented brand of On Top Living involves the overbuilding of single-storey STOP SHOP retail parks to create low-cost and environmentally friendly living spaces. “On Top Living symbolises smart living. Our future tenants will benefit from flexible space concepts, a comfortable living climate, highest degrees of energy efficiency, alternative mobility concepts, and much more – and everything at affordable rents and in immediate proximity to local suppliers and leisure time facilities. This way, we fulfil the housing needs of many people and at the same time contribute crucially to the fight against climate change, soil sealing and exploding housing costs,” explains Dietmar Reindl, member of the Executive Board of IMMOFINANZ.
Smart living with highest social and environmental standards
On Top Living is a smart living concept created by IMMOFINANZ that sets highest social and environmental standards for intelligent redensification. Due to the modular wood construction, future tenants can choose from a wide range of living concepts: mini lofts, family apartments, and apartments including home office spaces or separate units for guests or care. Numerous shared spaces like community rooms, playgrounds, or rooftop gardens are meant to bring a lively spirit to the living areas and promote social exchange.
The On Top Living apartments will not only offer a comfortable set-up where tenants can enjoy life, but they will also be climate-neutral. The units come with large-scale photovoltaics, heat recovery, and geothermal energy, but the tenants will also have access to e-charging stations and e-bikes. Leafy rooftops and façades complement the sustainable concept while at the same time acting as natural air-conditioning system. The modular wood construction also binds CO2. The wood is to come exclusively from certified, sustainable forestry. Another smart benefit of the On Top Living apartments is the fact that the prefabricated modules reduce construction time and thus the resulting noise exposure and emissions by a massive degree.
Sustainable finance to strengthen competitive position
Stefan Schönauer, member of the Executive Board of IMMOFINANZ: “On Top Living is another excellent example of how we implement our sustainability principles in concrete real estate projects. In total, we will invest about EUR 1 billion in the expansion of On Top Living over the coming five to seven years across our countries and thus add new earnings sources. In doing so, we also want to resort to an increasing degree of sustainable and social finance. Due to the massive increase in demand by banks and debt investors for sustainable investments, this promotes quick expansion and strengthens the competitive position of IMMOFINANZ.”
Up to 12,000 On Top Living apartments in the medium term
The STOP SHOP locations of IMMOFINANZ are an enormous resource for the company as far as the construction of On Top Living apartment complexes is concerned. With its 100 STOP SHOP retail parks across ten European countries, the company is the leading retail park operator in Europe. The company is planning to expand the portfolio to about 140 locations in the coming years. “As announced previously, we are planning to overbuild approx. 50% of our locations and want to create about 12,000 new apartments that way. The pilot project in Vienna has completed the planning stage, and another pilot project is earmarked for the Serbian town of Borca,” concludes Dietmar Reindl.
IMMOFINANZ
