BUWOG has acquired a residential development project in Vienna's tenth district, Favoriten. The undertaking, named "Favio", will comprise 281 residential units. Construction for this project is scheduled to begin in autumn 2026. The sale of the residential units is also planned for this period, in autumn 2026. With this acquisition, BUWOG continues its activities in the field of project development, which already saw a significant intensification last year.
Andreas Holler, Managing Director of BUWOG, commented on the company's strategic direction at the beginning of the year. He emphasised that BUWOG considers it its responsibility as a developer to continue its construction activities on a substantial scale, even though the political and economic conditions are not considered optimal. This stance is underpinned by the latest construction starts and the renewed acquisition of the "Favio" project.
Holler highlighted that the company is continuously searching for suitable properties and projects to counteract the anticipated housing shortage in urban agglomerations. The acquisition of the development opportunity on Laaer Berg in Favoriten enriches the portfolio and will offer new housing solutions to future residents.
Project Details and Location Quality
The "Favio" project is located at Theodor-Sickel-Gasse 2 in Favoriten. In addition to the 281 flats, it also includes commercial units and a local convenience store. The planned flats vary between one and four rooms and feature generous open spaces such as balconies, terraces or private gardens. This aims to provide a comfortable living experience for families, couples and singles.
- —Direct access to the Laaer Wald recreational area.
- —Proximity to Böhmischer Prater, Löwygrube park and Kurpark Oberlaa.
- —Within walking distance of the U1 Altes Landgut station.
- —Immediate proximity to bus lines 15A, 68A and 68B.
The project's location is characterised by a high quality of life due to its direct proximity to various parks and green spaces. The excellent transport links underscore the attractiveness of the location. With this project, BUWOG emphasises its contribution to urban housing provision in Vienna.
