Instone Real Estate Group AG, DE000A2NBX80

Instone Real Estate Group AG, DE000A2NBX80

06.12.2018 - 08:02:53

Instone Real Estate is growing in Leipzig - new location and successful project completions

Instone Real Estate is growing in Leipzig - new location and successful project completions

- Residential developer moves into new office space for future growth

- Scheduled completion and handovers at the Heeresbäckerei and Mühlenwerke Stahmeln projects as well as in the Königsbau project in the former Bleichert Werke

Essen/Leipzig, 6 December 2018: Instone Real Estate, one of Germany's leading residential developers, has moved into new office space in Leipzig. The company is thus laying the foundation for further dynamic growth in the region.

Torsten Kracht, CSO of Instone Real Estate, states: "Due to its increasing attractiveness and economic power, Leipzig offers great potential for future developments in the housing market. We are convinced that, with our new location on Karl-Heine-Straße, we are in an excellent position to create attractive living space for the region in the future." Kracht adds: "In terms of personnel, too, our new branch office offers ideal conditions for our further growth. Instone is an attractive employer for anyone wishing to actively shape our cities by means of responsible housing."

The residential developer is currently building more than 500 apartments in Leipzig and Halle. At present, three projects or construction phases of Instone Leipzig have been completed and are about to be handed over to the new owners:

In the Heeresbäckerei - currently the largest residential construction project in Leipzig - a major part of the first phase of the project with 60 residential units will be handed over. In total, 347 apartments are being built on the roughly 36,500 m2 site, 245 of which are in the listed old building and 102 in the new building, spread over five construction phases. Completion of the residential district is scheduled for the end of 2019.

Likewise in Leipzig-Gohlis, the so-called Königsbau in the former Bleichert Werke, a building dating back to 1888, has been carefully revitalised by Instone. The 46 residential units will be handed over in December of this year, which means that, as of March 2019, the first tenants will be able to move into their new apartment.

As early as the end of December 2018, Instone will give another listed building in Leipzig a new lease of life: the old Mühlenwerke flour mills in Stahmeln, built in 1896, have been extensively renovated, resulting in 68 attractive apartments.

About Instone Real Estate (IRE)

Instone Real Estate is one of Germany's leading residential developers and is listed in the Prime Standard at the Frankfurt Stock Exchange. The company develops attractive multi-family and residential buildings as well as publicly subsidized housing, designs modern urban quarters and refurbishes listed buildings for residential use. Buyers are mainly owner-occupiers, private investors and institutional investors. In 27 years, Instone Real Estate has successfully developed more than one million square metres. More than 320 employees work at eight locations nationwide. As of 30 September 2018, Instone Real Estate's project portfolio comprised 45 development projects with an expected total sales volume of roughly EUR 3.6 billion and more than 8,900 units.

Press contact Instone Real Estate c/o RUECKERCONSULT GmbH Franziska Jenkel Wallstrasse 16 10179 Berlin Tel.: +49 (0)30 2844987-61 Fax: +49 (0)30 2844987-99 Email: instone@rueckerconsult.de

End of Media Release Issuer: Instone Real Estate Group AG

06.12.2018 Dissemination of a Press Release, 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.de

Language: English Company: Instone Real Estate Group AG Baumstraße 25 45128 Essen

Germany Phone: +49 201 453 550 E-mail: ir@instone.de Internet: www.instone.de ISIN: DE000A2NBX80 WKN: A2NBX8 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange   End of News DGAP Media

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