Dr. Manfred Wiltschnigg has been member of the Executive Board of Immofinanz AG since April, 2010.
Responsible for managing all commercial properties and operating investments, portfolio strategy and management, as well as commercial property transactions, he provided rock-solid leadership in the wake of the company’s massive management shake-up following the global economic meltdown.
During this interview, filmed during MIPIM 2011, Dr. Wiltschnigg speaks candidly about how to survive troubled times, and what he sees in store for cities of the future.
According to Dr. Wiltschnigg, the availability of mney and resulting extended timelines have had a significant impact on real estate and property management in Western Europe and core markets in Poland, the Czech Republic, Hungary, Romania and Russia, where Immofinanz is most active.
A recent shake-up saw 70 top management staff leave the company. Immofinanz has since hired 120 new staff, and Dr. Wiltschnigg said many important lessons were learned during the crisis. “Everything we’ve started is taking much longer than originally expected. We have had to focus on our strengths and reorganise almost everything,” he says.
Looking to the future, he says he sees promising developments for Immofinanz across continental Europe.
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