(AG Real Estate) IMMORENT on Serbia’s market

Alexander Petritz, MSc

graduate engineer of architecture

CEO of IMMORENT Belgrade Ltd.

alexander.petritz@immorent.co.yu

Finally, in May 2007, IMMORENT arrived on the Serbian market. That is one of the largest “real estate developers“ in central and southeast Europe. Except in Serbia, IMMORENT is already present in Austria, Italy, Germany, Czech Republic, Poland, Slovakia, Hungary, Slovenia, Croatia, Romania, Bulgaria and Ukraine. Founding of IMMORENT in Bosnia and Herzegovina and in Montenegro is in the pipeline for this year.

Ever since the company was founded in 1970, IMMORENT has financed numerous projects in both private and public sector. The company is considered pioneer of Austrian leasing market. Today, it is considered the initiator of overall leasing branch. Because of all that, expectations concerning the investment of funds through their model of operate leasing on the real estate market of Serbia are great and positive! IMMORENT plans to place big investments in Serbia, first of all, in development of shopping and logistic centers, business buildings, apartment construction, tourism (city hotels), development of trade and industry, as well as in technical infrastructure through realization of PPP-projects!

IMMORENT is the company specialized for Real Estate Development and Real Estate Financing. It is part of Erste Bank Group, which is, most certainly, the largest financial institution in Austria and Central Europe thanks to the sinergy within the group. All three segments of Erste Bank are now present on the market of Serbia and all three are necessary for further development of Serbian economy: Erste Bank, S-Leasing (Leasing - property financing) and IMMORENT. The company last mentioned is the leader in the following fields:

· Real Estate Development provides support in design, development and construction of real estates (both independently and through strategic partnerships);

· Real Estate Leasing offers real estate financing through the “Real Estate Leasing” model;

· Real Estate Bank Financing that backs real estate financing through crediting models within IMMORENT-Bank,

· Real Estate Services completes the project development process with its services, it backs engineering, organizes supervisions, prepares all-encompassing estimates and offers legal and economic support;

As a comprehensive supplier with full competence, IMMORENT offers full service related to certain investment. Variety of services, in addition to financing, includes complete planning and support in implementation of investment projects. As far as real estates are concerned, the palette of leasing-facilities ranges from construction and furnishing of office and business space to building and equipping of production units with up-to-date production technologies.

Since 1990’s, IMMORENT has been active on so-called broadened markets of Central, East and Southeast Europe and it disposes of appropriate know-how for leasing solutions. Currently, IMMORENT-Holding has more than 900 employees. It gathers experts from the most various branches of IMMORENT-structure. Among others, our team comprises in-house architects, building technology experts, planners, project and facility managers, as well as law and tax experts. Thus, IMMORENT has the necessary overall competence to implement state-of-the-art projects with a great perspective. The value of assets of IMMORENT Holding (including all countries where IMMORENT is present) amounted to over 6 billion EUR in mid-2007!

Strategy

Concentrating business on profitable markets and profitable products, IMMORENT strengthens its core activity. Thus, this company is becoming an irreplaceable integral supplier of services to the growing circle of clients. IMMORENT defines itself as “Leasing & More” company and it builds its market advantage with wide palette of services. The company offers complete portfolio of products and services related to commercial real estates! The Strength of Erste Banke Group is the essential guarantee of strong growth. Sinergy between the Erste Bank Group in retail-business on one side and IMMORENT in business with clients-companies on the other side is more and more used. Thus, the market position of the entire group is getting stronger. Real Estate Leasing and Investment-Products satisfy all needs of retail-clients of Erste Bank, which is an easy way to attract new clients.

Especially dynamic development with significant business growth is registered by Cross-Border-leasing. That is enabled by the market offensive in the existing business areas on one side and by conquering new markets on other side. Besides that, it was possible to take advantage of business opportunities, first of all, for structural financing and businesses in field of transportation. Market segments of special financing could give significant contribution to volume and incomes. Also, IMMORENT participates in international financing of big clients. At the moment, international corporations, especially supermarket-chains and market chains that offer tools and “do-it-yourself“ material for repairs and works, are rapidly penetrating the market of southeast Europe. That points to the high market potential of these markets in the incoming years.

Satisfaction of IMMORENT’s business partners is the base for their success. The Client is, therefore, in the focus of all activities and the subject of support from the beginning to the end of the project. IMMORENT orients itself towards the needs of clients, their expectations and goals, and they develop the best possible solution together. In cooperation with clients, it is taken care of even relation between chances and risk. Clients obtain comprehensive information and they are invited to talk even about some controversial themes. Actions are serious and creation of long-term trust is more important than short-term advantages.

Development of mutual transparency between business partners is especially cherished. Good climate for dialogue is very important and it breeds a transparent culture of communication. IMMORENT is ready to accept all critics and to turn them into advantages thanks to possible constructive alternatives. At the same time, IMMORENT is always willing to accept creative ideas and innovations, because entrepreneurial culture is based on trust.

Service for Investors and Users

Investors as well as commercial and private users can take advantage of IMMORENT’s project development know-how. Moreover, this company offers customized financing solutions to private and public builders. IMMORENT’s all-encompassing service portfolio holds considerable advantages for all, such as:

· High-Yield Investments, projects realized by us are assets for investors to benefit from,

· Top Quality Standards, as a user you get top-quality space, specially tailored to your individual needs,

· Security and Cost Advantages, project steering by IMMORENT guarantees on-schedule completion and will save you time and money.

Those who want to benefit from the trends of the global economy must not let themselves be stopped by national boundaries. Real Estate Leasing of IMMORENT is the ideal solution for financing your real estate.

The service offered by IMMORENT does not stop with financing. This company assists in all planning matters, in project controlling, construction implementation, and even in property management. IMMORENT provides the service that yields the following advantages for users: saving of time, energy, and money, so that the clients can concentrate on their core-business, because everything else is handled by IMMORENT!

IMMORENT leasing

This is a system that provides clear advantages. Leasing is the financing solution for your real estate projects from which clients will benefit most. With an operate lease, clients will secure themselves additional financial flexibility, since – contrary to a finance lease or financing – an operate lease, as an off-balance form of financing, will not be shown on your balance sheet.

Under the slogan “Utilizing instead of Buying“, the clients utilize land and buildings over the full contract term – just like they are the “real“ landowners, but without having to buy. This leasing creates flexibility, because clients’ capital remains for other investments.

Also, in this case, the full lease payments are regarded as operating expenses and leave clients’ balance sheets untouched. Operate leasing makes clients flexible with regard to taxation and civil law developments. Swift reactions to any changes are enabled.

IMMORENT is already working on the markets of tomorrow, so that you can benefit from our real estate leasing services in all of the following Central and Eastern / South-Eastern European countries: Czech Republic, Slovakia, Bulgaria, Slovenia, Croatia, Hungary, Poland, Germany, Italy, Romania, Ukraine, and Serbis.

Take advantage of IMMORENT’s experts’ excellent market knowledge and longlasting experience – and be sure that your project is in the best hands.

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