Warimpex Finanz- und Beteiligungs AG

euro adhoc: Warimpex Finanz- und Beteiligungs AG
other
Warimpex obtains building permit for Airportcity in St. Petersburg

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26.09.2007

In St. Petersburg, Warimpex Finanz- und Beteiligungs AG, in an 85:15 joint venture with St. Petersburg Airport, is working on the development of a business park ("Airportcity") to be erected on a 62,000 sqm site at the international Pulkovo 2 Airport.

On 26 September, the City of St. Petersburg issued the building permit for the first phase of project development, encompassing a four-star hotel operated by an international hotel chain (300 rooms and 1,600 sqm of conference facilities) plus three office buildings with some 40,000 sqm of net lettable floor space. The total investment costs of this phase will amount to approximately EUR 120 million.

In a second phase, Warimpex plans to erect further office buildings with a net lettable area of 50,000 to 60,000 sqm.

The Airportcity St. Petersburg project is the largest real estate development project in Warimpex' company history.

At the beginning of August, a letter of intent was signed providing for co-investors to join in the project in the fourth quarter of this year.

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ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00
DI Christoph Salzer
mailto:presse@warimpex.com
Mag. Daniel Folian, mailto:investor.relations@warimpex.com
www.warimpex.com

Branche: Real Estate
ISIN:      AT0000827209
WKN:        
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market



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