An outstanding success for metamagix: Our ICRS real estate controlling and reporting system has secured metamagix a contract with Austrian Real Estate (ARE).
ARE is wholly owned by Bundesimmobiliengesellschaft (BIG; federal real estate company) of the Republic of Austria and is one of Austria’s largest real estate owners. As of December 31, 2014, it managed a portfolio of 610 office, commercial and development properties with 1.6 million square meters of rentable space. The fair market value of the portfolio is 2.3 billion euros.
So far, ARE has made available properties primarily for federal purposes. One of ARE’s main strategic goals is to further increase its sales with private business partners, including establishing and developing a housing portfolio. In that area, ARE is going to invest up to two billion euros over the next few years. Currently, developments with well over 4,000 apartments are under construction or being prepared, with the entire portfolio being located in Austria.
ICRS is designed to play a part in implementing that strategy. “We are delighted with winning this contract, considering the accuracy and wide scope of the tender,” Martin Gilly, Managing Partner at metamagix, states. ARE has opted for a comprehensive system with a range of modules. Implementation of this system has already begun, and launching the first stage for going live in summer will mark the first major milestone.