BUSINESS MODEL

SIGNA Development Selection AG was founded in 2014 with two landmark properties. Both projects are centrally located next to the new Vienna Central Railway Station – a decided development area in the city with an unbeatable location.

SIGNA Development Selection, the youngest division, is the sister company of SIGNA Prime Selection. It invests and participates in classic real estate developments in top locations of large agglomerations, mainly in German-speaking countries. These include office buildings and towers, major residential property projects, shopping centres, and hotels, among others. It pursues a buy-develop-sell strategy. The company’s commitment to high-quality execution in connection with the high-quality locations of the real estate properties offers a very attractive risk-return profile for the shareholders, regardless of the economic cycle. An experienced team of established real estate experts with a well-connected network manages all activities from the project acquisition to the completion of the project.

The corporation was founded in 2014 with two landmark properties. Both projects are centrally located at the Vienna Central Railway Station. With the projects “THE ICON VIENNA", “PARKAPARTMENTS AM BELVEDERE" and “Hotel Andaz Am Belvedere Vienna", various properties are being developed that fulfil high requirements in terms of economy, technology and sustainability. In autumn 2016, SIGNA Development Selection’s portfolio was expanded by two projects. The FORUM DONAUSTADT is a forward-looking, mixed-use quarter, which is one of Vienna’s major urban development projects.

In one of the most sought-after locations for retail, office and residential use, Berlin Friedrichshain, SIGNA is redeveloping the department store property known as “Kaufhof am Ostbahnhof" into the attractive business location UP! with modern office and retail space. In the Mediaspree area in Berlin-Friedrichshain, directly at the Mercedes-Benz Arena, SIGNA is constructing the modern office building “STREAM" that is 90 meters high and has a gross floor space of approx. 50,000 m², with attractive catering and retail areas on the ground floor. In December 2017, SIGNA acquired the Schickler Haus, an office complex at the extremely dynamic location of Berlin Mitte, with an interesting upgrade of the location. With its total lease space of approx. 17,000 m², it is one of the most attractive investment properties in Berlin.

The “Project at the Schweizergarten" was purchased directly in early 2017 as part of the takeover of BAI. In addition to the attractive architecture by Delugan Meissl and Coop Himmelb(l)au, the project stands out due to the striking, well-connected location within the important urban development project “Vienna Central Railway Station", just a few minutes away from Vienna’s first district.

TOTAL INVESTMENT COST: >€ 2.5 BILLION
DEVELOPED AREA: >700.000 SQM

Structure

The major shareholders of SIGNA Development Selection are SIGNA Holding and Hans-Peter Haselsteiner.

ManagementBoard of Management

Timo Herzberg

Timo Herzberg

Timo Herzberg, CEO of SIGNA Real Estate Germany, was appointed to the SIGNA Group Executive Board in December 2018. He joined SIGNA at the start of 2017 and is responsible for all of the Group’s real estate operations in Germany. He has almost 20 years’ experience of the property investment and development business, and has worked with a number of private and institutional property investors from Germany and abroad. In 2006, Mr Herzberg set up Signature Capital Group Germany, which he headed as a director and CEO.

Manuel Pirolt

Manuel Pirolt

Born in 1983, Manuel Pirolt was appointed CFO of SIGNA Prime in 2013. He joined the SIGNA Group in 2011, with responsibility for corporate finance and investment and transaction management. He started his career at BDO Austria, specialising in auditing, special audits and transaction consulting, and worked with clients from a wide variety of sectors, in particular the construction and real estate industries.

Christoph Stadlhuber

Christoph Stadlhuber

Christoph Stadlhuber, CEO of SIGNA Real Estate Austria, is responsible for all of the Group’s real estate operations in Austria. He joined SIGNA in 2011 and was appointed CEO of SIGNA Prime Selection AG and SIGNA Development Selection AG, as well as Managing Director of SIGNA Holding GmbH. Christoph Stadlhuber has been spokesman of the SIGNA Group Executive Board since 2013. He has a degree in spatial planning from Vienna University of Technology (TU Wien). He served as Head of Cabinet to the Austrian Federal Minister of Economics and Labour, Martin Bartenstein. He has built up extensive experience of the real estate sector, including as managing director of Bundesimmobiliengesellschaft m.b.H between 2003 and 2011.

Michael Möstl

Michael Möstl

Born in 1962, Michael Möstl joined SIGNA in 2014 and took over as Managing Director of SIGNA Development Selection AG and CEO of SIGNA Real Estate Management GmbH. He has worked in Germany and Austria since 1993 as CEO and chairman of the Seeste Group, and has extensive experience of the development and construction of high-quality, privately financed residential property. From 1998 he was instrumental in the expansion of Vienna-based Seeste Bau AG. After completing his degree in technology, he worked in project management at a number of companies, including Siemens, EKZ Interspar and BOE.

Thomas Jakoubek

Thomas Jakoubek

Thomas Jakoubek, born in 1958, has been member of the management board of SIGNA Development Selection since August 2017. The graduate construction engineer and development planner has been CEO and spokesperson of BAI Bauträger Austria Immobilien GmbH since 2004. From 2004 to 2017 Mr Jakoubek was CEO of the Immobilien GmbH and from 1998 to 2017 he was board member of WED AG. During this time, Mr. Jakoubek was in charge of planning the DC Tower, Austria’s tallest skyscraper, and Wien Mitte The Mall, the largest shopping center in the inner city of Vienna.

Development SelectionSupervisory Board

Dr. Alfred Gusenbauer

Dr. Alfred Gusenbauer

Alfred Gusenbauer was an Austrian Federal Chancellor. After leaving politics, he held a number of selected posts on supervisory boards, among them as chairman of the Supervisory Board of Strabag, one of Austria’s largest construction companies, as well as of SIGNA Prime Selection AG and SIGNA Development Selection AG. In addition to this, since the winter semester 2009 he has been a Visiting Professor at the US “Ivy League” Harvard University. Alfred Gusenbauer is regarded as an expert in the fields of foreign policy, security policy, and economic policy, and is the holder of a number of national and foreign awards and distinctions

Dr. Susanne Riess

Dr. Susanne Riess

Susanne Riess’s extensive political experience saw her named Austrian Vice-Chancellor in 2000. After leaving politics, she became chairwoman of the board of Austrian home loan savings and insurance group Wüstenrot in 2004. She also sits on a number of supervisory boards, including at Switzerland’s IHAG Privatbank.

Jürgen Fenk

Jürgen Fenk

Born in 1966, Jürgen Fenk joined the SIGNA Group Executive Board on 1 October 2017. He was previously a member of the management board of Landesbank Hessen-Thüringen (helaba), where he was responsible for real estate, debt capital markets and financial institutions. Mr Fenk has extensive experience of the banking, capital market and property sectors. In his new position he will primarily focus on banking, capital markets and capital sourcing for the Group. He will also be responsible for establishing the SIGNA Group’s new proptech, debt fund and insurance business units.

Dr. Karl Sevelda

Dr. Karl Sevelda

Karl Sevelda, born 1950, studied at Vienna University of Economics and Business from 1968, completing his studies in 1973 with a Master’s in Social and Economic Sciences. In the following years up to 1976 he carried out freelance research activities on behalf of the Federal Ministry of Science and Research as well as for the Federal Ministry of Trade, Commerce and Industry. At the same time, he worked for the Institute of Economic Policy. In 1980 Sevelda gained his Doctorate in Social and Economic Sciences. Between 1977 and 1983 Sevelda was a consultant in Commercial Credits and Export Financing with the Creditanstalt-Bankverein, and from 1983 to 1985 he was Economic Policy Director at the Office of the Federal Minister for Trade, Commerce and Industry, Norbert Steger. In 1985 service tours with banks took him to Great Britain and the United States. After his return in 1986 he went back to Creditanstalt-Bankenverein. Until its privatisation in 1997 he was engaged there as Executive Head of Department for Export Financing, Deputy Director of the Financing Division, Director of the Division for International Corporations and Insurance, as well as Director of the Corporate Clients Division. In 1998 Sevelda moved to Raiffeisen Zentralbank Österreich, where he was a Member of the Board of Directors. In this role he carried worldwide responsibility for the Divisions of “Company Clients Business and Corporate” as well as “Trade and Export Finance”. Between 2010 and 2013 he was Deputy Chair of the Board of Directors of Raiffeisen Bank International (RBI), and from 7 June 2013 Chair of the Board until 2017. Under his leadership, capital reserves were built up to meet the strict Basel III requirements. In 2014 the bank was able to repay participation capital issued during the 2009 crisis. Nearing the end of his term, RBI merged with its parent Raiffeisen Zentralbank (RZB), enhancing efficiency and transparency. In March 2017 he was succeeded by Johann Strobl as Chair of the Board of Raiffeisen Bank International.

SIGNA Development SelectionProjekte

Contact

Innsbruck Office

Maria-Theresien-Straße 31
6020 Innsbruck

T: +43 512 58 51 19-0
F: +43 512 58 51 19-1003
M: innsbruck@signa.at

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Vienna Office

Freyung 3, Palais Harrach
1010 Wien

T: +43 1 53 29 848-0
F: +43 1 53 29 848-2023
M: wien@signa.at

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