Bundesimmobiliengesellschaft (Federal Real Estate Company), set up in 1922 in the course of the privatisation programme of the government, Vienna-based limited liability company in charge of the administration of construction and of real estate owned by the federal government; the company is completely owned by the federal government. It is responsible for the acquisition, use, administration and sale of real estate, as well as for the construction and maintenance of buildings used for public purposes. In particular, the 1,500 flats owned by the federal government (except those of the BUWOG, a non-profit organisation constructing residential buildings for federal civil servants) are to be sold to the tenants at market value. Moreover, the Federal Real Estate Company has the right of usufruct of federally owned real estate. In legal affairs the Federal Real Estate Company is represented by the Finanzprokuratur.
Literature#P. Czanik, Das Bundesimmobilienvermoegen: Erwerb, Bewertung und Veraeusserung, 1994.