Bundesimmobiliengesellschaft

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Bundesimmobiliengesellschaft m.b.H
Revenue774 million EUR (2008)[5]
219 million EUR (2008)[5]
42 million EUR (2008)[5]
Total assets4613 million EUR (2008)[5]
Total equity834 million EUR (2008)[5]
OwnerRepublic of Austria (100%)[6]
Number of employees
812 (2008)[7]
SubsidiariesBIG Finanzdienstleistungen GMBH
BIG Entwicklungs-Und Verwertungs GMBH[8]
Websitebig.at

Bundesimmobiliengesellschaft m.b.H or BIG is a

quasi-governmental company in Austria, which manages Austrian publicly owned real estate.[8] BIG is the central provider of space for several public sector functions such as schools, universities, prisons, courts and police stations.[9] It rents out buildings to the government entities using them, carries out renovations and new investments, and handles sales of buildings and land no longer in use by the public sector.[8]

History

BIG was created by law in 1992, with the objective of

province, and in the other provinces by the Federal Buildings Administrations (Bundesgebäudeverwaltungen).[10] The aim was to improve the cost-efficiency of various government departments.[2] The underlying premise for this system of internal rent was that requiring departments to pay for and account for their usage of buildings would force them to rationalise their use of space and allow surplus space to be put to alternative use or sold.[2]

Organizational form

BIG is a

government policy.[11] Any changes in ownership would require a prior amendment to the law by simple majority.[1]

Economy and market

Unlike other companies close to the Austrian government, BIG acts on the free real estate market,

market-like basis, though with adjustments for special-purpose buildings.[14]

Principal activities

BIG engages in:[13]

  • federal
    schools, universities and official buildings.
  • Construction of new buildings and redevelopment of old properties for rental to federal schools and universities, and as official buildings.
  • Sales of buildings and land.
  • Property management and maintenance of properties.
  • Property development
    and sales of completed projects involving private use.
  • Facility management, by agreement with tenants.
  • Republic of Austria

Real estate portfolio

In 2008, the

billion EUR.[5] The real estate portfolio consisted of:[15]

  • Schools and universities (70.5%)
  • Prisons, police stations and court houses (27%)
  • Residential property (2%)
  • Other (0.5%)

Notes

  1. ^ a b c d e f g BIG 2008, p. 10
  2. ^ a b c d Moody's 2009, p. 2
  3. ^ BIG: "Bundesimmobiliengesellschaft: Contact". Archived from the original on 2009-08-10. Retrieved 2009-07-27.
  4. ^ BIG: "Bundesimmobiliengesellschaft: Management". Archived from the original on 2009-06-29. Retrieved 2009-07-28.
  5. ^ a b c d e f BIG financial statement 2008, pp. 1–2
  6. ^ Moody's 2009, p. 5
  7. ^ BIG financial statement 2008, p. 19
  8. ^ a b c d Moody's 2009, p. 3
  9. ^ BIG 2008, p. 3
  10. ^ BIG: "Bundesimmobiliengesellschaft: History". Archived from the original on 2009-06-30. Retrieved 2009-07-27.
  11. ^ Moody's 2009, p. 1
  12. ^ BIG: [1] Archived June 30, 2009, at the Wayback Machine
  13. ^ a b BIG 2008, p. 29
  14. ^ Moody's 2009, p. 4
  15. ^ Moody's 2009, p. 2. Figures from 2008.

References

External links

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