GBI to build SMARTments project in Vienna

George Sell George Sell Uploaded 17 September 2019


Austria: STRABAG Real Estate (SRE) and project developer GBI have announced plans to build 313 micro-apartments in the Heiligenstadt district of Vienna.

Set to open in autumn 2021, the development will consist of 147 SMARTments student units and 166 SMARTments business units.

All apartments in the two separate building halves are fully furnished and offer air conditioning, kitchenettes and work areas. Students and trainees will live in 17 to 23 square metres; the SMARTments business offer is 19 to 31 square metres. Both will be built by the construction units of STRABAG Group.

"We are implementing a new concept at Leopold Ungar Platz with the direct juxtaposition of two SMARTments that serves as a role model," says Karl-Heinz Daurer, managing director of GBI Project Development Austria, adding: "The location is ideally suited for both uses.”

The development is close to several university premises and a commercial quarter which is home to the Raiffeisen Banking Group and the Kronen Zeitung, as well as companies from the life sciences and communications sectors. In addition, the city centre and public transport hubs are just a few minutes away by underground or S-Bahn.

"This type of accommodation is becoming increasingly popular in the larger cities," said Burak Ünver, managing director of the Austrian operating company SMARTments Ges.m.b.H. "Professionally, the demands on mobility and flexibility are on the rise, for example in project work. But private reasons are also causing an increase in demand for longer-term stays."

The student property has been acquired by Catella European Student Housing Fund before construction began.

GBI is currently building a 187-unit SMARTments student property in Graz.



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