About Whitestone Investment Advisory
The Whitestone consortium was founded in the year 2000 by successful real estate management Norbert Galfusz, Balazs Györke, and a strategic partner with a location in Budapest. By 2013, the group concentrated on the business activities of development and financing of commercial real estate such as offices, warehouses, industrial parks, and shopping centers followed by housing complexes in Budapest, Prague, and Bucharest.
Move to Austria
With the founding of Whitestone Investment Advisory Ltd. with a location in Vienna, the founders directed their attention to the local real estate market. The new company concentrated exclusively on project development of housing complexes in Vienna and surroundings and has implemented several projects so far.
Whitestone Investment Advisory’s orientation provides that purchasers of flats—whether for their own personal use or as an investment—be offered properties with the best value for the money.
In addition, the business model entails participation by private and institutional investors, in real estate development, i.e. selected projects that offer high earning potential. The development process of a project is initiated, on the one hand, on the basis of considerable experience on the part of the team, and on the other hand, on the basis of real invoice-driven opportunity/risk assessment and subsequently, properties dedicated to residential living are acquired, developed, cultivated, and finally, utilized in the most optimal way.
The professional team at Whitestone Investment Advisory definitively takes part in each individual step of development—from the planning to the purchase. The property developer or owner takes on the following tasks in the project development process:
- Project concept, feasibility
- Market and building studies
- Site acquisition
- Property acquisition in accordance with due diligence
- Drafting of contracts
- Raising of borrowed capital
- Selection and commissioning of planners, consultants, and construction company
- Local construction supervision, project controlling
- Sales, marketing and sales consultation
- Dealing with public authorities
At the beginning of each project, the consideration—in addition to an intense economic analysis—goes into whether the project is functional, looks great, and presents returns to investors in the end.
Always be one step ahead—that is the challenge in management of Whitestone Investment Advisory and these instincts are what go hand in with the company from the very beginning. One is large enough for the more substantial housing projects and at the same time, lean enough to be flexible at all times and react to new challenges. This approach is what has decisively guided and influenced the founders all these years.