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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
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Swiss Züblin focuses on sustainable office property, cutting back non-core assets
Swiss listed group Züblin Immobilien, which owns a majority stake in a French SIIC/REIT and an unlisted German subsidiary of the same name, has shifted focus toward sustainable offices and is cutting back non-core assets, group CEO Bruno Schefer told PIE . Züblin, whose origins reach back to the German tycoon who also founded a now-separate constructionn firm, is the sole listed Swiss company with investments outside the Alpine nation. While this brought benefits in the past, it also meant net depreciations last year. "The strategy we adopted 18 months ago is that within the next two years, 100% of the portfolio will be office at prime locations in a very few cities and that all the properties should be energy efficient," Schefer said.