This comes after Strabag Group increased its stake in the company from 20 to 100 percent in September 2016. SRE Austria is to focus primarily on the development of sustainable residential real estate and according to the company managing director Gerald Beck is to manage the company’s further expansion.

 

The new name has already been entered into the company register. “Integrating the new company into our real estate development division and changing the name to Strabag Real Estate further strengthens our already strong brand position,” said Thomas Hohwieler, Managing Director of Strabag Real Estate in Germany.

 

Raiffeisen Evolution Project Development was founded in 2003 in Vienna and has offices in Hungary, Poland, Slovakia, Romania, Bulgaria, Russia and Ukraine.