Says Mr. Lorenz Tragatschnig, Managing Director for Romania, Soravia Real Estate Development:
What is Soravia Group’s philosophy globally and locally in Romania?
As we are a privately owned and managed company we can react fast to emerging market trends. When after the crises in 2008 the real estate market showed a strong development in our home market Austria, we quickly shifted resources and are since then participating from a steady upward movement on the Austrian real estate market. At the same time we also made our homework in Romania and consolidated our business in order to have enough strength now when the commercial real estate market in Bucharest becomes increasingly interesting since beginning of 2014 again.
How does Soravia combine its philosophy to build modern and innovative buildings with the values of social responsibility, but also to finalize environment friendly projects?
I would say that the use of modern technology and innovative construction materials are preconditions for social responsibility. That guarantees energy efficient buildings which have a long lasting lifetime circle and avoids the waste of resources as reconstruction circles are extended. Environment friendliness in the form of green certified buildings is standard meanwhile and considered in the design process from the very beginning of a project.
Soravia Group opened its subsidiary in Romania 15 years ago. What are the main projects developed so far?
In the beginning of our presence in Romania we developed two smaller office buildings one close to the airport and one in the inner city of Bucharest. Between 2006 and 2009 we realized our trophy project called ‘Metropolis Center’ which we still own and manage. It’s a modern office space with a small retail component and foot court in the basement that is well known for the successful combination of its historic structure with state of the art technology.
How would you describe the Romanian market potential and what is the development strategy of Soravia Group here?
After a few ups and downs during the last years we haven’t been as optimistic as now since a long time. International money and companies are coming back to Romania as the country has a solid macroeconomic foundation combined with a well trained and loyal workforce for a fraction of labor side costs compared to Western Europe. During the last years we have always been assessing the market for new development possibilities but now we get much more promising offers on the table. I am looking forward positively that some of the potentials we are verifying now, will materialize soon.
Since the very beginning, Soravia Group has focused on developing real estate operations and investments in Central and Eastern Europe and has become fast a success company on this market. What is Soravia’s key of success?
We have always been a first mover and able to anticipate market developments. Combined with real entrepreneurial courage and the claim for high quality results, we could successfully position ourselves on this highly competitive market.
What makes the difference regarding the company’s success scored in Romania with its projects here?
What made the difference especially for our ‘Metropolis Center’ is the symbiotic alliance of a really beautiful historic façade with a high class office development. Especially this combination of visionary design and the ability to realize technically complex projects is one of our strengths which made the difference for Metropolis.