Project Mercado

The asset is located on Reschgasse 20, in Vienna’s Meidling district, and is fully permitted for conversion into 90 residential apartments for sale. The acquisition is the first investment under Pearl, Revetas’ newly launched DACH living platform, through which the firm intends to pursue residential opportunities across the region.

The project is well located, set directly beside a U6 underground entrance and within walking distance of Wien Meidling station. The building will be converted from approximately 6,400 sqm of office space into apartments averaging some 40-60 sqm, alongside ground-floor retail and gastronomy. The residences – predominantly one- and two-bedroom apartments – are aimed at Vienna’s deep owner-occupier market, with delivery targeted for 2028.

The repositioning is conceived as a sustainable, adaptive reuse. Because the existing concrete-frame structure and underground garage are in very good condition, Revetas will retain and convert the building rather than demolish it. Giving an obsolete office block a new life as housing avoids the embodied carbon of a new build and makes productive use of an already-developed, transit-rich site. The conversion is designed to a modern residential energy standard, targeting a significant reduction in operational energy intensity versus the former office use, with high-efficiency heat pumps, rooftop photovoltaics where feasible, electric-vehicle charging and secure bicycle storage. Revetas is pursuing recognised Austrian sustainability certification (ÖGNI / klimaaktiv) for the completed building.

Meidling itself is an established, transit-led residential submarket with a vibrant local environment, including the Meidlinger Markt food market, a pedestrian shopping zone, schools and retail. The city centre and Stephansplatz are around 15 minutes away by metro.