CONSUS Real Estate AG: CONSUS expands development volume of around EUR 750 million
With the secured properties, the company intends to develop in the next 3 to 4 years a total of approx. 1,670 apartments with over 153,210 square meters of residential area and approx. 29,968 square meters of commercial space. The projects are located in leading proprietary locations of Hamburg, Cologne, Stuttgart / Böblingen and Erfurt.
These newly added projects are increasing the current development volume of CG Gruppe of approx. EUR 4.6 billion by approx. EUR 750 million or more than 16% to a total development volume of approx. EUR 5.4 billion. The further growth of the development portfolio is in line with the strategic priority of CONSUS to further expand its leading position in Germany's top 9 cities for residential real estate development.
The acquisitions are in line with CONSUS' financial targets including an EBIT margin of around 20% and residential sales per square meter of around EUR 5,000. The total forward sales backlog for CONSUS current stands at around EUR 1.6 billion.Press Contact: RUECKERCONSULT GmbH Peter Dietze-Felberg Wallstrasse 16, D-10179 Berlin +49 (0)30 28 44 email@example.com
CONSUS Real Estate AG Andreas Steyer, COOa.firstname.lastname@example.org
About Consus Real Estate AG CONSUS Real Estate AG ("CONSUS"), based in Berlin, Germany, is with its development branch CG Gruppe the leading rental housing developer in the country's nine largest cities. Key components of the company are a high share in institutional forward sales as well as digitisation and industrial serial production along the entire value chain. The project development activities are supplemented by a high-yield proprietary portfolio of commercial real estate in Germany. The stock of Consus Real Estate AG is listed on m:access, the mid-market portal of Bayerische Börse, and is traded on the regulated unofficial market of the Munich Stock Exchange and via XETRA in Frankfurt.About the new projectsProjects in Cologne: The two projects in Cologne have a combined 94,183 square meters of lettable floor space, of which 66,725 square meters are for residential use and 27,458 square meters for commercial use
Project in Hamburg In Hamburg, residential buildings with a total lettable floor space of 43,896 square meters with approx. 650 apartments are being realized
Project in Erfurt In Erfurt, an existing building is being revitalized with new apartments and adjacent commercial space as well as a new building being constructed. The lettable floor space is divided into 6,951 square meters for residential use and 710 square meters for commercial use
Project in Böblingen/Stuttgart In Böblingen, a construction project with a lettable floor space of 7,470 square meters is being realized, of which 5,670 square meters for residential use and 1,800 square meters for commercial use.
16.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: CONSUS Real Estate AG Kurfürstendamm 188-189 10707 Berlin
Germany Phone: +49 (0)30 965 357 90 300 E-mail: email@example.com Internet: www.consus.ag ISIN: DE000A2DA414 WKN: A2DA41 Listed: Regulated Unofficial Market in Frankfurt, Munich (m:access) End of News DGAP News Service