UBM Development : finalizes sale of standing assets in Prague for EUR 10 million
July 04, 2017 at 04:15 am EDT
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Vienna - 4 July 2017 - UBM intensifies its trade-developer focus.
Three properties in the Prague portfolio have been sold for EUR 10 million.
UBM last week closed the sale of a portion of its Prague properties portfolio. The deal comprises properties in the urban complex developed by UBM in Prague's Anděl quarter. Three of these portfolio properties - the largest multiplex cinema in the Czech Republic, a large parking garage with 293 underground spots, and the inner courtyard - were sold with effect from the end of June for about EUR 10 million to Cinestar, the operator of the cinema.
'Our focus is on development. The sale of these portfolio properties marks a further step in the execution of our strategy,' says Jan Zemanek, Managing Director of UBM Bohemia and deal captain for the transaction.
Impact of sale on UBM
The sale, structured as an asset deal, will have a direct effect on net debt, total output and sales revenue in the second quarter of 2017.
Time of impact
Q2/2017
100 %
100 %
100 %
UBM Development AG is the leading hotel developer in Europe. Its strategic focus is on the three clearly defined asset classes Hotel, Office and Residential, in the three core markets Germany, Austria and Poland. With 144 years of experience, UBM concentrates on its core competence, the development of real estate. UBM has been listed in the PrimeMarket segment of the Vienna Stock Exchange since August 2016. www.ubm.at
For inquiries:
UBM Development AG
Ms. Milena Ioveva
Head of Investor Relations & Corporate Communications Tel.: +43 50 626-1763
E-mail: public.relations@ubm.at
Press Release 04.07.2017
UBM Realitätenentwicklung AG published this content on 04 July 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 July 2017 08:14:09 UTC.
Original documenthttp://ubm.at/en/news-press/press-releases/artikel/2017/07/ubm-finalisiert-verkauf-von-prager-bestandsobjekten-fur-eur-10-mio/
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UBM Development AG is an Austria-based company. The Company's business activities primarily focuses on the development, sale and management of real estate. It offer services in market analysis, project development, planning and project management, financing, rental and asset management. In addition, the Company is engaged in the development of timber construction projects and its main focus is providing green and smart building in cities such as Vienna, Munich, Frankfurt or Prague. The Company is also active as a hotel lessee. The Company's subsidiaries are UBM Development Deutschland GmbH, UBM Development Oesterreich GmbH, UBM Development Polska and UBM Development Czechia. Its subsidiary UBM hotels Management GmbH bundles the operational know-how for hotel management and combines all UBM hotel leasing operations. The Company focuses on environmentally friendly and energy-saving solutions from the design stage and realization to utilization and revitalization.
UBM DEVELOPMENT AG 
