CA Immo spins off German construction management subsidiary omniCon

by   CIJ News iDesk III
2024-02-01   09:50
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Following the spin-off of all property management activities in CEE and Austria, and the minority stake sale in a CEE facility management business, CA Immo has taken the next step towards simplifying the business model and focusing the company on core activities with the spin-off of its wholly owned construction management subsidiary omniCon Gesellschaft für innovatives Bauen mbH via a Management-Buy-Out.

Since 2008, omniCon has operated primarily as internal service provider of construction management services to CA Immo, while also undertaking similar work for third parties, amongst others for Roche in Basel. With recent completion of major developments such as ONE in Frankfurt and Hochhaus am Europaplatz in Berlin, CA Immo’s development pipeline has reduced in volume when compared to previous years, and has become more focused on the single market of Berlin. With more than 80 employees across multiple offices, omniCon currently accounts for around 25% of CA Immo's total workforce, which is a disproportionately high share, and wide geographic spread, in view of this reduced and focused development pipeline of CA Immo going forward.

omniCon will continue to operate on the market under its own brand and provide construction management services to CA Immo and third parties. CA Immo will maintain in house value creative development capabilities across the value chain from zoning through to construction realization, though will competitively procure construction and project management services from third parties on future developments.

Keegan Viscius, CEO of CA Immo: “The spin-off gives omniCon a clear orientation as an independent player on the market with an excellent track record and established expertise as a construction manager. For CA Immo, it streamlines the operating platform in line with our core business. While the development of Class A office properties with an experienced in-house team remains a significant business area for CA Immo, this adjustment to the organisational structure will lead to greater flexibility and reduced complexity, particularly in a more challenging market environment with greater volatility. We would like to thank all omniCon employees for their many years of successful collaboration, which will continue on selected projects.”

Markus Rink, Managing Director of omniCon Gesellschaft für innovatives Bauen mbH: "omniCon stands for the successful realization of numerous inner-city lighthouse projects such as the cube berlin or the ONE in Frankfurt. We use this experience from our previous projects to meet customer requirements in new projects. In addition, we have extensive expertise in obtaining planning permits, property preparation and infrastructure. This special know-how enables us to implement even difficult projects on former brownfield sites in a high-quality, value-creating and timely manner."

Sebastian Eckernkamp, Managing Director of omniCon Gesellschaft für innovatives Bauen mbH: "With this step, we can continue our 20 years of successful activity on the market for our clients together with our employees. We would like to thank our previous shareholder for giving us the opportunity to take this step towards independence in order to be able to react even more flexibly to client requirements on the market.”

omniCon specialises in the management of commercial construction projects in the range between €10m and €500m, with a particular focus on the office, hotel, retail and residential segments. In addition, the company has extensive experience in the implementation of conversion processes (obtaining planning permits, property preparation, infrastructure) of former industrial sites. omniCon currently has branches and offices in three locations: Frankfurt, Berlin, and Basel. In addition, the project team always has a local project office at the project location. As at 31 December 2023, the company employed around 80 people.