in 1991, the expo organizing corporation was succeeded by the vienna danube region development corporation (wed), with major austrian banks and insurance companies (ba-ca, erste bank, raiffeisen bank for labor and economy, invest bank ag, uniqa, wiener städtische) as principal shareholders. wed owns the area and is responsible for its overall development. within a few years, the district became a second urban center in vienna, with residential and office buildings, research facilities, recreational facilities and event locations.