ZIMA Satisfied with
a challenging 2023
“We know from numerous sources that people’s desire to own or purchase their own home remains as strong as ever, despite difficult economic conditions. Rent costs are skyrocketing, and homeownership continues to be highly sought after as a source of stability. This is a clear mandate: The KIM Regulation is in no way equipped to handle the current market situation. It must be revised as quickly as possible—or, ideally, repealed—so that people can continue to fulfill their dream of owning their own home, and so that potential crises and labor market slumps in the construction industry can be effectively countered,” explains Alexander Nußbaumer, owner and CEO of ZIMA.
Sustainable and Innovative for the Future
“The construction and real estate sector is one of the economy’s most important drivers, providing valuable technological and innovative advances in renewable energy, the circular economy, greening, and sustainable construction. Policymakers must ensure that measures are taken to counteract the threat to this role posed by the KIM Regulation, which is holding back investment,” said Alexander Nußbaumer. “At the same time, we real estate developers are naturally also called upon to act: We need maximum efficiency in planning and construction, as well as innovative concepts for optimizing living space and land use, in order to keep cost trends under control with smart and forward-looking ideas and continue to provide our customers with high-quality, sustainable, and at the same time affordable housing—perhaps in slightly more flexible apartment sizes in the future.”
Successful Projects and Milestones in 2023
With 559 completed and handed-over apartments, totaling just over 38,500m² of residential floor space, ZIMA surpassed the previous year’s result (approximately 500 apartments). The highlight of the year was the completion of the sustainable Attemsgarten residential neighborhood in the heart of Vienna’s Donaustadt district. There, 215 high-quality, energy-efficient, and family-friendly apartments were completed and handed over, featuring excellent infrastructure and generous green spaces. In Tyrol , a total of 144 new apartments Tyrol (in Innsbruck, Völs, Söll, Kitzbühel, and Hopfgarten), and in Vorarlberg, ZIMA realized 126 new dream homes (in Dornbirn, Schruns, Fußach, Höchst, and Muntlix).
Successful projects and milestones in 2023:
DACH region: 504 apartments
South Tyrol: 55 apartments
Total: 559 residential units; approx. 39,000 m² of usable floor space
In addition, several commercial buildings with a total floor area of more than 19,000m² were completed in 2023, including projects in Eastern Switzerland and Vorarlberg.
Looking Ahead to 2024 with Confidence
Despite difficult market conditions marked by inflation, high interest rates, and construction costs that remain challenging, ZIMA is looking ahead to2024 with cautious optimism: “We expect that construction costs have essentially peaked. With our strong equity base and our commitment to implementing sustainable, innovative, and architecturally sophisticated construction projects, we remain fully on track for the future. Our 50-year tradition has established us as a solid, reliable, and strategically savvy residential developer. We remain steadfastly committed to this course. I am convinced that we are capable of weathering this current downturn well and continuing to fulfill our role as a pioneer in real estate development in the German-speaking Alpine region to the best of our ability,” explains Nußbaumer, looking ahead to 2024.
