AREC Challenge Pictures of the last years

Austrian Real Estate Consortium and Challenge – TU Wien and Stanford University

  • Stanford is your dream university besides TU Wien?
  • You always wanted to attend courses there but it seemed too exclusive and out of reach?
  • You are a masters student preferably of Civil Engineering or Spatial Planning at the TU Wien and always wanted to be part of an international team during your master thesis?

Then join the ME310 team for the Austrian Real Estate Challenge!

Study design thinking at Stanford University!  

Four master students of each TU Wien and Stanford University are chosen to be part of the ME310 course at Stanford Mechanical Engineering. Together with the teaching team around George Toye and Alex Redlein the team works on a Design Challenge. The goal of the course is to learn the methodology design thinking on a practical case. First you define the "real" problem space together with the industry partners. Then you perform rapid prototyping to find out more about the problem and the possible solution space (dark horse, funky prototype). Last but not least you implement the funky prototype.

The international change grants the students not only new experiences but also a trip to Stanford University and a presentation of the results in front of an international audience at Stanford EXPE. For the rest of the course the team works virtual to provide the performance asked. The course is designed by TU Wien in such a way that a course can be credited for the performance achieved and a master's thesis can be developed from the topic worked out. You have to finish the writing of the thesis briefly after the final presentation in 2022. Both courses will be supervised by Alex Redlein from TU Wien and coached by the Stanford teaching team. Learn from the best from both worlds!

You learn the methodology not only by listening to lectures but by applying it at a practical industry case: Problem based learning at its best

The AREConsoritum, consisting of Immofinanz, ÖSW und der Simacek Gruppe, provide the topic for the challenge – Innovative solutions and new approaches for the real estate industry.
Those companies also sponsor the challenge. (course fees, travelcosts, etc.).

Associate industry partner is SAP Palo Alto., opens an external URL in a new window

Send your application to concluding:

CV & motivational letter, bachelor's diploma, confirmation of enrollment in the Master's Programme
The deadline for submitting your documents is the 7th of August 2022. 
The selection will take place till September 12th 2022.

We are looking forward for your applications!

Participating TU-Students in 2021/22: Christoph Appl, Mahmoud Faraj-Allah, Sebastian Rosenberger, Fabian Werle

Our core business is the management and development of retail and office properties in selected countries in Western and Eastern European. In the office sector, we concentrate on the capital cities of the core countries and the major office locations in Germany with our international myhive brand. The office portfolio is responsible for approx. 63% of the total portfolio value. Our activities in the retail sector are based on the STOP SHOP brand for retail parks and VIVO! for shopping centers which are designed, above all, for secondary and tertiary cities. The retail portfolio is responsible for roughly 34% of the total portfolio value. In addition to the professional management of these properties, we focus on value-creating growth through our own development projects and acquisitions – always with the goal of strengthening our standing investments and sustainable cash flow.

Our property portfolio had a carrying amount of EUR 4.5 billion and covered more than 210 properties as of 30 June 2019. Seven core markets form the geographical focus of our business activities: Austria, Germany, Poland, Czech Republic, Slovakia, Romania and Hungary. Our local teams in each of these core markets are the guarantee for strong service orientation and customer satisfaction.

-> Link to the Website of Immofinanz., opens an external URL in a new window


Logo Immofinanz

ÖSW AG stands at the head of the ÖSW Group. The group comprises 27 subsidiaries and associated companies, operates in eight of the nine federal states and has now become the largest private limited-profit property developer in Austria. The almost 450-strong workforce generated a turnover of around € 300 million in 2018. Investments in new buildings amounted to just under € 140 million. Currently, almost 60,000 administrative units are being serviced within the group at the same time. The ÖSW Group Vienna by itself already had 2,500 residential units under construction and 2,400 in preparation for construction in 2019 – which is a building and project volume of almost 5,000 units.

The Österreichisches Siedlungswerk is able to draw on 70 years of sustainable growth while simultaneously maintaining a clear view of the future. The main cornerstones in the coming years will be digitalisation and sustainability and particularly recycling management that will aimed at preserving existing assets while at the same time optimising business to meet the needs of the times.

-> Link to the Website of ÖSW., opens an external URL in a new window


Logo ÖSW

The name stands for quality, safety and satisfaction for people and buildings in more than 40 cities across Europe: A, G, CZ, RO, SK, BG

This long-established family business is one of the most important groups in the facility management industry today. Now in its third generation, the family business is managed by the company founder’s granddaughter, Ursula Simacek, and is one of Austria’s leading companies, employing more than 8,000 people in Austria, Central and Eastern Europe. SIMACEK offers unlimited services in the areas of cleaning (maintenance and special cleaning), pest control, security, public transport cleaning, catering, technical services, hygiene services and products as well as in green areas, explains Ursula Simacek, CEO SIMACEK:“We offer customers everything they need to operate a property or building. We deliver building-related services as well as surveillance, catering and industrial services. We can manage the entire infrastructure of the property. We would like to offer our customers maximum comfort. Group developed a comprehensive benchmarking system while carrying out the “Infrastructure Management Project“. Its goal is to examine current costs in terms of adequacy, conformity ,efficiency and value for money and to compare this to other companies. Based on this benchmarking system, SIMACEK specialists develop optimisation proposals and, when necessary, manage the implementation of the suggested measures in the project.

"We created a software platform to support our services online. We are able to update every contract, location, maintenance interval, service level in surveillance, in technology or energy management. Depending on the stage of expansion, the complete cleaning process, customers can log in and view their property at any time and coordinate service level equipment. When it comes to its sustainability strategy, SIMACEK's focus remains on health, education and demographics. SIMACEK is able to contribute to society and the economy thanks to active integration, diversity and sustainability. I am convinced that practising social responsibility in a company leads to success. This is the company's philosophy once again: Excellent cooperation achieves excellent services, this applies to us as well."

-> Link to the Website of SIMACEK., opens an external URL in a new window


Logo Simacek

What previous participants had to say:

"...The experience you make within this course will let you grow personally and professionally and you´ll benefit from this for the rest of your life."

„Being part of the ME310 class was one of the best experiences at university so far! Working close with students from the other side of the world, as well as being supported by an extremely dedicated teaching team was very inspiring and made me grow with the task more than I expected a students’ challenge could.“

"...ME310 has fundamentally changed the way I will approach tasks in the future."