New apartments at Falkensteiner Resort Punta Skala: meet Aurora Residences

When we build apartments for rent and sale, we sell about a third before the start of construction, according to FMTG.


21. May 2024.

The demand for apartments with additional services continues to grow.

Falkensteiner Michaeler Tourism Group (FMTG) recognized this trend early on and has been developing them under the Falkensteiner Premium Living brand for 20 years and integrating them into the infrastructure of Falkensteiner hotels.

The newest project will be developed from autumn in the Falkensteiner Resort Punta Skala in Croatia. Under the leadership of the famous architect Boris Podrecca, FMTG will build 2025 new high-end residential units by 88. Interested investors can participate in the development of the project through the current crowdinvestment campaign of FMTG Invest.

"When we build apartments for rent and sale, we sell about a third before construction begins", He said Otmar Michaeler, CEO of FMTG. The company turns 67 this year and over the decades has developed into an international travel group and the most famous Austrian travel brand. 

"My parents started with a small guesthouse in South Tyrol, and with FMTG we have created a structure that is unique in Europe. We build, develop, advise. Through consulting other companies, we are constantly learning and spotting trends very early", said Erich Falkensteiner, president of the Supervisory Board of FMTG.

Falkensteiner resort punta scale large

Falkensteiner resort punta skala aurora residences large

The tourist group has been offering apartments for rent and sale under the brand for 20 years Premium Living. They are integrated into the infrastructure of the Falkensteiner Hotel, offering owners the opportunity to enjoy hotel amenities. 

"The customer decides which services he wants. If he does not use the property for vacation, he can rent it out to us", says Michaeler. In this way, FMTG avoids empty beds, and apartment owners get a certain part of the income. The company plans to focus even more on this model in the future. Demand will continue to grow, which Michaeler is convinced of, and there are many reasons for this. For example, work models have changed significantly since the pandemic. 

"Workation is a growing trend. Premium Living apartments that can be used all year round offer the perfect place to combine work and vacation", explains Michaeler. Statistics also show that apartments with additional services are becoming increasingly popular with retirees. 

"We get healthier as we age. Many people want to enjoy their golden years somewhere else and still feel at home", he added. 

Not only have construction costs increased, but high interest rates today make it difficult to develop a new property exclusively through bank financing. Here, popular apartments offer an attractive option for cross-financing. For Michaeler, this is now a requirement.

"If today we cannot cross-finance a hotel with apartments, we develop only in places where we receive public funds", Michaele said.

New apartments in Falkensteiner Resort Punta Skala 

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Falkensteiner resort punta skala aurora residences2 large

It is built exclusively in prime locations and always in collaboration with renowned architects and designers, such as Matteo Thun or Richard Meyer.

One of the leading projects of the tourist group is Falkensteiner Resort Punta Skala near Zadar. The resort already includes two 5-star hotels, Premium Living apartments, luxury villas and the Fortis Club, a top sports and entertainment center. 

Construction on the Falkensteiner peninsula continues in the fall. New Premium Living apartments are being developed under the leadership of Austrian architect Boris Podrecca.Aurora Residences". 

"For me, Punta Skala embodies longing for the horizon. Sea and sky are mirrored everywhere. With the new apartments, I want to further develop this continuity. The buildings are lined up like fingers, facing the sea and so that they do not block each other's view of the horizon", says Podrecca.

A total of four buildings will be built 88 apartments. Interested buyers can choose between four different sizes from 42m2 to 175m2. The end is foreseen for June 2025.

Innovative concept of crowdinvestment

For more than seven years, FMTG has been successfully connecting innovative projects with its own crowdinvestment concept - for two years already through its own FMTG Invest platform. "Our investors know exactly which projects their money goes into with each campaign and can later enjoy the result as hotel guests", said Anne Aubrunner, director of FMTG Invest. Namely, interest is paid either in cash or in the form of hotel vouchers. 

"Slightly more than half of our investors decide to repay the interest in vouchers and thus become guests. The combination of cash interest and hotel vouchers is especially popular for our multiple investors", says Aubrunner about the successful concept and how the FMTG Invest team places special focus on transparency and regular communication with investors.

"For us, the relationship does not end with the end of the investment, but begins", Aubrunner explains the personal approach.

Currently, FMTG Invest is in the 12th round of crowdinvestment. The collected funds will, among other things, go towards the realization of Aurora Residences in Falkensteiner Resort Punta Skala.

Photo: FMTG


21. May 2024.