Dkfm. Gernot Teufel [business graduate] began developing residential- and sports facility projects in the early 70s. In the 90s, the business focus shifted to shopping centers, office complexes and residential buildings in prime locations. The projects were initially focused on Austria. IG Immobilien, a subsidiary of the Austrian National Bank, has been one of the company’s most important partners since this time.
International expansion began in stages at the turn of the millennium with real estate development projects in Brussels, Amsterdam and Budapest. The hand-over of the business to the next generation was completed in 2008 with the founding of IES Immobilien-Projektentwicklung GmbH. Dr. Markus Teufel, who had previously held a management position with a real estate developer specialising in commercial real estate, took over management of the company that had carried out real estate projects.
The founding of IES coincided with a new strategic orientation toward innovative project development and real estate investment consulting. Additionally, work began on the development of the IES brand and the creation of an independent corporate identity. In accordance with the company philosophy, expertise was concentrated at the company headquarters in Vienna in order to focus on innovative projects.