News from Signa: Real estate fate in Vienna and Berlin is decided!

News from Signa: Real estate fate in Vienna and Berlin is decided!

In the real estate industry, the bolting is bubbled: The chairman of Signa Prime's insolvency proceedings announced that by the beginning of 2025 the recycling process of the important building complex "Rengasse Vienna" would be expected. As vienna.at , the offer for binding offers on December 6th and the feedback from the potential buyers. However, tightening in the legal process has delayed the sales process, which increases uncertainty about the returns to creditors. A decided change from renovation to bankruptcy, by the decision of the Supreme Court (OGH), withdrawn the self -administration and used the Abel lawyers as insolvency administrators.

sales of real estate in focus

In addition, the sales process for the Upper West high -rise building runs on Breitscheidplatz in Berlin, which started in June. After positive bidders discussions, the signing of the contract will be expected by the end of the month. The sales process is currently being structured at Park Hyatt Vienna, with the aim of using the property in the best possible way by mid -2025. But the insolvency administrator is not just about real estate sales. Chairman of the contest of a total of 471 million euros was submitted, such as Freilaw.de These complaints aim at repayments of fees that were paid to members of the supervisory board in 2023.

The hoped -for recovery of the real estate market after the turning point has so far failed to materialize, which has a negative impact on the forecasts of the market participants. Despite the current developments, trust in the timely stabilization of real estate prices is questionable, since the uncertainties in the bankruptcy proceedings continue to exist and the creditors are at risk in their recovery. The focus remains on the impending decisions of the bidders and the clarification of the financial challenges.