EANS-Adhoc: Sparkassen Immobilien AG opens second part of Gemini office building in Prague

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  • Investment worth EUR 68 million now completed
  • Advance lease agreements for 96 per cent of phase one and 77 per cent of phase two

Sparkassen Immobilien AG (Bloomberg: SPI.AV, Reuters: SIAG.VI) opened the second phase of its Gemini office and commercial complex in Pankrác, Prague´s fourth district.

The office complex comprises two towers with a total of 38,600 square metres of modern office and retail space and 430 parking spaces in underground parking garages. The complex is at a particularly advantageous location in the city, close to the C metro line and only four stops from Wenceslas Square. The D1 motorway, which runs from Prague over Brno to Olomouc, can also be accessed conveniently from the complex. IMMORENT AG, a 100 per cent real estate subsidiary of Erste Group, was a development partner in the project and completed the construction work on schedule at the end of 2008.

In total, EUR 68 million was invested in the project. With the Gemini complex, Sparkassen Immobilien AG´s Czech portfolio has grown to a total value of EUR 142 million (including properties under construction).

96 per cent of the first phase and 77 percent of the second phase have already either been leased or advance lease agreements concluded. Existing tenants include national and international firms such as Unipetrol, Volksbank, Barclays, Agro Bohemia and Ceska Sporitelna.

emitter: Sparkassen Immobilien AG
Friedrichstraße 10
A-1010 Wien
phone: +43(0)50100-27550
FAX: +43(0)050100-927559
mail: office@s-immoag.at
WWW: www.sparkassenimmobilienag.at
sector: Real Estate
ISIN: AT0000652250
indexes: ATX Prime, Immobilien-ATX
stockmarkets: official market: Wiener Börse AG
language: English

end of announcement euro adhoc

Rückfragen & Kontakt:

Investor Relations:
Rebecca Reichmann
Tel.: +43(0)50100-27402
Fax: +43(0)05100-927402


Corporate Communications:
Bosko Skoko
Tel.: +43(0)50100-27522
Fax: +43(0)05100-927522