Topping-out ceremony THE FiZZ Vienna

Topping-out ceremony for new “THE FIZZ Wien” in Vienna

• Topping-out ceremony celebrated today with around 120 guests
• Construc­tion work on residen­tial building for students and young profes­sio­nals on schedule
• Opening of property planned for 2017/2018 winter semester
• Apart­ments to be let from July 2017

Inter­na­tional Campus, Stonehill Group, Pegasus Capital Partners and HABAU celebrated the topping-out ceremony of “THE FIZZ Wien” in the city’s 20th district Brigit­tenau with more than 120 guests this after­noon. A total of 632 high quality apart­ments for students and young profes­sio­nals with showers and pantry kitchens, plus racks for 350 bicycles and 81 car parking spaces, are being built on Dresdner Strasse. The ground floor of the building will consist of commer­cial space of 1,150 square metres. The project was developed and financed by Stonehill Group in coope­ra­tion with Pegasus Capital Partners GmbH, and sold to an invest­ment company of Inter­na­tional Campus AG as part of a forward deal in December 2016. The total contractor is the Austrian HABAU Hoch- u. Tiefbau­ge­sell­schaft m.b.H. The building that is to become “THE FIZZ Wien” will have a gross floor area above ground level of more than 26,000 square metres over seven floors.

Alexander Gulya, CEO of Inter­na­tional Campus Austria, said: “THE FIZZ Wien is our first project in Vienna. We are there­fore delighted at the great turn-out for the topping-out ceremony. Construc­tion work is on schedule and we intend to open in time for the 2017/2018 winter semester. Letting will begin in July.” Gulya continued: “In the heart of Vienna’s now very popular Brigit­tenau residen­tial district, we are creating highly sought-after, small-scale housing for students and young profes­sio­nals. The Brigit­tenau is the second-fastest growing district in Vienna, and its location between the Danube and the Donau­kanal makes it the district with the second-highest share of waters. Other benefits include the great connec­tion to the local public trans­port system and its proxi­mity to the adjacent 2nd district.”

Dr. Henrik Medla, a member of the manage­ment of Pegasus Capital Partners, commented:

“Thanks to its good infra­struc­ture, high social standards and cultural variety, Vienna is one of the cities with the world’s highest quality of life. It is also centrally located in the heart of Europe and is enjoying steady popula­tion growth. More than two million people will live in Austria’s capital by 2023. This makes Vienna a highly attrac­tive and secure invest­ment location. We are happy to have found a compe­tent investor and operator with proven brand and service exper­tise in Inter­na­tional Campus, and would also like thank our project partner Drees & Sommer for the good coope­ra­tion.”

Thomas Reicher, Divisional Manager for HABAU, added: “As a result of the coope­ra­tion in project manage­ment between the builder, project manage­ment, the planning company and all those working here on the site, optimal condi­tions have been created to finish the property on time by the end of September – despite the tight construc­tion schedule and unusually harsh winter – and to hand it over to the owner with full confi­dence in its high quality. Work to bring furnis­hings into the apart­ments will begin in the next few weeks. We would like to extend our warmest thanks to all the compa­nies involved in the work on the project.”

With around 200,000 students, Vienna is the largest univer­sity city in the German-speaking world and even surpasses Berlin in this regard. The biggest academic insti­tu­tions are the Univer­sity of Vienna, which has around 95,000 students, the Vienna Univer­sity of Techno­logy, roughly 29,000 students, and the Vienna Univer­sity of Econo­mics and Business, appro­xi­m­ately 23,000 students in the 2015/2016 winter semester.

Note on image rights: These images may be used for the purposes of reporting on Inter­na­tional Campus, Stonehill Group, Pegasus Capital Partners and HABAU. Please use the follo­wing source:

Inter­na­tio­nals Campus AG / Paul Gruber. The images may only be processed for ordinary usage.