Ground-breaking ceremony Wohngarten

Vienna, 26. June 2019

With the ground-breaking ceremony for the first residential construction project, the Viennese real estate company INVESTER United Benefits is opening a new chapter in the company’s history and starting its involvement in the residential asset class. On Geiselbergstraße in Vienna’s Simmering district, a modern residential complex is being built on an area of around 18,000 square metres, which will comprise a total of 682 privately financed rental flats. The project with a total floor area of more than 35,000 square metres is based on the original Viennese concept of a residential courtyard and will comprise a total of five buildings. This is currently the largest residential project of any single property developer in Vienna.

Michael Klement, CEO INVESTER on the occasion of the ground-breaking ceremony: “With the WOHNGARTEN project we are building a landmark for urban living in the up-and-coming district of Simmering. It is not only a project that is close to our hearts, but also currently the largest residential construction project in the rental housing sector in Vienna. By the end of 2021, we will create modern living space for around 1,500 people”.