UBM Development AG: Strategic Progress Amidst Muted Quarter

UBM Development AG is set to release its Q3 report on November 28th. Expectations indicate a muted quarter, with anticipated sales of €35.0 million primarily driven by ongoing construction projects. Despite this, UBM has seen success in its residential unit sales, surpassing last year’s figures within the first half of 2024.

The company has made strategic progress through the placement of a new green bond, raising €93 million. This aligns with its sustainability strategy, with 80% of their bond financing now focused on green projects. The bond will mature in 2029 with an annual coupon rate of 7%.

Additionally, UBM successfully leased parts of LeopoldQuartier in Vienna. Notably, 16% of the available floor space has been let to Your Office and Spar AG. This move indicates market resilience, with discussions ongoing for further leases.