What Areos Development does

Areos Development GmbH is an owner-managed private real estate developer headquartered in Vienna, Austria, founded with operating activity dating to 2002 (legal entity FN 582.948b at HG Wien) and specialising in the full supply chain of residential and commercial property development from site acquisition through planning and construction management to marketing and sales. The portfolio spans individual buildings to district developments of up to 220 apartments, concentrated entirely within Vienna and its surroundings, with named projects including Eschengarten (92 condominiums), Perfektastrasse 11 (110 rental apartments plus 2 commercial units), MEXO/Engerthstrasse (35 units), LUUMIN (9-10 luxury units in Ottakring), Am Freihof 5 (42 units in Donaustadt), and Dornbacher Strasse 98 (exclusive residential, in planning).

The company's products are differentiated primarily through sustainability technology: Perfektastrasse 11 is one of the first three Austrian residential buildings to achieve EU Taxonomy conformity and DGNB Gold certification, and projects deploy air-source heat pumps, hemp-based facade insulation (LUUMIN), component activation for heating/cooling, photovoltaic systems, and wood-aluminium windows designed to ÖGNI standards. Construction execution is delegated to general contractors (TIBUS BAU GmbH, Handler Bau) and architect firms (RLP, Atelier Heiss, Dietrich Untertrifaller, Hawlik Gerginski), while unit-level sales rely on broker partners (Otto Immobilien, ÖRAG Immobilien, IVV) and institutional whole-building sales target funds and asset managers such as Wealthcore Investment Management GmbH.

Revenue is generated via two primary streams: one-time unit sales of condominiums to private owner-occupiers and individual investors (typically freifinanziert premium segment), and one-time forward/turnkey sales of entire buildings to institutional investors. A long-standing joint venture with ARE Development GmbH provides co-development capital across flagship projects. The customer base is bifurcated: a small set of large institutional buyers (Wealthcore, EKAZENT) for forward purchases and a long tail of individual unit buyers (including retail tenant Hofer KG for ground-floor commercial space), with project-management services offered as a secondary capability to affiliated entities.

Name

Areos Development

Legal name

areos Development GmbH

Website

https://areos.eu

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Areos Development GmbH is an owner-managed Vienna-based real estate developer that runs the full development chain from acquisition through construction to sales, delivering freifinanziert residential and commercial projects for individual buyers and institutional investors.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Residential Building Construction (23611), Residential Remodelers (236118), Commercial and Institutional Building Construction (236220)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520), Non-Operating Establishments (9995)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

akta.pro secondary industries

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Real estate development
• Residential construction
• Sustainable building
• Property project management
• Condominium development

Headquarters

HQ city

Vienna

HQ country

Austria

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Property Development and Sale: Full-cycle real estate development — acquiring properties, developing projects (planning, construction management), and selling apartments in condominium ownership to private buyers or investors. Revenue is realized at project completion through individual unit sales.
2. Turnkey/Forward Purchase to Investors: Entire residential buildings sold as turnkey investment products to a single institutional investor or fund prior to or upon completion (e.g., Perfektastrasse 11 sold to a Wealthcore-managed fund).
3. Project Management and Construction Management Services: Project management and construction management services provided for affiliated entities and third parties as part of the full supply chain offering.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Areos Development GmbH develops, plans, and constructs residential and commercial real estate in Vienna and its surroundings, covering the full supply chain from property acquisition, planning and permitting, to construction management and marketing/sales. The company delivers sustainably certified condominium projects for owner-occupiers and private investors, as well as turnkey rental buildings sold to institutional investors, with a portfolio ranging from individual residential properties to district developments of up to 220 apartments.

Product overview

Areos Development GmbH is an owner-managed real estate development company operating in Vienna and surroundings. The company develops, plans, and constructs residential and commercial real estate, covering the full supply chain from property acquisition and project development to construction management and marketing/sales. The portfolio ranges from single residential properties to district developments with over 220 apartments. Key named product offerings include residential complexes such as LUUMIN (luxury apartments in Ottakring), ESCHENGARTEN (92 apartments in Liesing), Perfektastraße (110 rental apartments), MEXO (35 apartments in Leopoldstadt), and Am Freihof 5 (42 apartments in Donaustadt). Additional services include property acquisition, renovation of existing buildings, and investment participation opportunities. The company operates in partnership with ARE Development GmbH on multiple projects and utilizes environmentally friendly technologies including heat pumps, photovoltaic systems, and sustainable insulation materials.

Differentiator

Problem solved

Functional benefit

Products and services

• LUUMIN (Roterdstraße / Wilhelminenstraße) Luxury residential complex in Vienna's 16th district (Ottakring) with 9–10 exclusively furnished apartments (59–119 m²), each offering balcony, garden, or terrace, light-flooded rooms, and underground parking. Sustainability features include air-source heat pumps, hemp facade insulation, component activation for heating/cooling, and photovoltaic systems. Developed for Areos Beta GmbH.
• Eschengarten (Stipcakgasse) Residential complex of two buildings enclosing a community garden with 92 condominiums (1- to 5-room apartments, 35–118 m²) featuring loggias, balconies, terraces or gardens, underground car park, and communal green spaces. Developed jointly with ARE Development GmbH in Vienna-Liesing (1230 Vienna).
• Perfektastraße Apartment Building Modern rental apartment building at Perfektastraße 11, 1230 Vienna, with 110 predominantly 2–3 room apartments and two commercial units (approx. 160 m² and 55 m²) across nine levels. Built to ÖGNI/DGNB Gold and EU Taxonomy standards ('lowest energy house' class). Sold as a forward purchase to a fund managed by Wealthcore Investment Management GmbH.
• MEXO (Engerthstraße) Mixed-use residential and commercial building at Engerthstraße 187, 1020 Vienna, with 35 owner-occupied or investment apartments (37–55 m²) and ground-floor retail space (a Hofer / ALDI grocery store). Located in Vienna's Leopoldstadt district.
• Am Freihof 5 / Kagraner Platz 50 Residential development in Vienna-Donaustadt (1220 Vienna) comprising three buildings with 42 privately financed owner-occupied or investment apartments (1.5–4 rooms) featuring gardens, balconies, or loggias, plus one commercial unit. Sustainable systems include air-source heat pump and photovoltaic installation. Building permit granted; construction start 2026.
• Dornbacher Straße 98 Exclusive residential project in Vienna's 17th district (Hernals), 1170 Vienna, on a property with excellent public transport access and proximity to the Vienna Woods and Schafberg mountain. Design stage with architects HAWLIK GERGINSKI ARCHITEKTEN ZT GmbH.
• Wilhelminenstraße 184 Project at Wilhelminenstraße 184, 1160 Vienna, including renovation and attic expansion of an existing multi-family residence plus construction of two modern single-family houses. Building permit application submitted.
• Liniengasse Modern multi-party residential apartment building planned for the Liniengasse area of Vienna's 6th district, providing approximately 32 owner-occupied or investment apartments with strong public transport connectivity.
• Obkirchergasse Modern multi-party residential apartment building planned for a 600 m² property on Obkirchergasse in Vienna's 19th district (Döbling), comprising approximately 15 apartments in an established residential area between Sonnbergmarkt and Sieveringer Straße.
• Albertisgasse 4 Multi-party apartment building project planned near Krankenhaus Nord hospital in Vienna's 21st district (Floridsdorf), 1210 Vienna. Currently in commercially utilized status.

Quantifiable outcome

• Completed the Eschengarten project (92 condominiums) in less than two years of construction (Q4 2019–2021)
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• ARE Development GmbHcoreStrategic or Co-development Partner · 1 January 2018Long-standing strategic co-development partner. Areos and ARE Development have executed multiple joint residential projects including Eschengarten (92 condominiums), Perfektastrasse (110 rental apartments), Engerthstrasse/MEXO (35 units), and others. ARE Development provides development capital, co-investment, and operational collaboration across the full project lifecycle.
• Otto ImmobilienminorChannel Partner/ Reseller/ DistributorReal estate broker handling sales of condominiums in the Eschengarten project. One of the broker partners for marketing owner-occupied and investment apartments.
• ÖRAG ImmobilienminorChannel Partner/ Reseller/ DistributorReal estate broker handling sales of condominiums in the Eschengarten project alongside Otto Immobilien.
• IVV Immobilien Verkauf und Vermietungs GmbHminorChannel Partner/ Reseller/ DistributorReal estate broker handling the sales and rental marketing of the LUUMIN project condominiums at Roterdstrasse/Wilhelminenstrasse.
• Rüdiger Lainer + Partner (RLP)minorImplementation/ SI/ Consulting PartnerArchitectural firm responsible for the design of the LUUMIN project (Roterdstrasse/Wilhelminenstrasse). Awarded the project for its distinctive architecture inspired by Eduardo Chillada sculptures.
• Atelier Heiss ZT GmbHminorImplementation/ SI/ Consulting PartnerArchitectural firm responsible for the design of the Eschengarten project (House Esche) and the overall neighbourhood development planning.
• Dietrich Untertrifaller Architekten ZT GmbHminorImplementation/ SI/ Consulting PartnerArchitectural firm responsible for the design of the Eschengarten project (House Ahorn and overall residential design) and project planning.
• TIBUS BAU GmbHminorImplementation/ SI/ Consulting PartnerGeneral contractor (Totalunternehmer) for the LUUMIN project at Roterdstrasse/Wilhelminenstrasse. Construction management and execution partner.
• Handler BauminorImplementation/ SI/ Consulting PartnerGeneral contractor for the Eschengarten project (Perfektastrasse 11 neighbourhood development). Responsible for construction execution.
• Prajo's Bau & Maschinenvermittlung GmbHminorImplementation/ SI/ Consulting PartnerDemolition and site preparation contractor engaged for the Eschengarten project and the Am Freihof 5 project in Vienna-Donaustadt.
• HAWLIK GERGINSKI ARCHITEKTEN ZT GmbHminorImplementation/ SI/ Consulting PartnerArchitectural firm currently engaged for the planning of the exclusive residential project at Dornbacher Strasse 98, 1170 Vienna.
• Solar Impulse Foundation / World Alliance for Efficient SolutionsminorStrategic or Co-development PartnerAreos Development became a member of the World Alliance for Efficient Solutions, established by Bertrand Piccard's Solar Impulse Foundation. The alliance selects 1000 efficient solutions for climate protection. Areos team members Markus Summer and Reinhard Schmied serve as experts in the Solar Impulse '1000 Profitable Solutions' programme.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Areos Development