DGAP-News: BUWOG AG / Key word(s): Real Estate

2015-11-05 / 22:04

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- Sales of the "May&Nielsen" residential development project in Weissensee to launch shortly
- Start of construction of "Das Lichtenhain" project with a total of over 200 flats in Berlin-Lichtenberg planned for December - Project in Pankow with start of sales in February 2016 - Biggest development project, "52 Grad Nord" in Berlin-Gruenau: 30% of "Seefeld", the first phase of construction, already placed - Development pipeline for Berlin already totals 2,600 units as BUWOG secures new land plot

The German-Austrian BUWOG Group continues the expansion of its Property Development business area in order to meet the steadily growing demand for flats in the German capital. According to current planning status, BUWOG will build approx. 82 new residential units in the Berlin district of Weissensee. The "May&Nielsen" project on the corner of Goethestrasse and Streustrasse will create new residential space as a result of new construction as well as the refurbishment of an existing building. Sales are to begin on 14 November 2015.

Construction for BUWOG's "Das Lichtenhain" project featuring over 200 flats in Berlin-Lichtenberg is to start no later than December. Urban villas, terraced houses, garden houses and a gatehouse will be built on the approximately 19,000 sqm land plot. All of the terraced houses have already been placed with clients.

For a smaller project with around 45 residential
units in Berlin-Pankow construction is currently planned to begin in May 2016. Sales for the group of buildings on Schulzstrasse will begin in February 2016.

Also the largest construction project in the history of BUWOG Group, "52 Grad Nord" in Berlin-Gruenau, is progressing in construction and sales. On the approximately 100,000 sqm premises on Regattastraße - directly on the River Dahme - a total of about 700 to 800 freehold and rental flats as well as terraced houses and a children's daycare centre will be built in ten phases of construction until 2022. For "Seefeld", the first phase of construction, 30% of the flats have already been placed; sales have been underway for "Ankerviertel", the second phase of construction, since October.

In total BUWOG Group's pipeline has now increased to 2,600 units in Berlin. As BUWOG Group just secured a new plot in Schoeneweide (district of Treptow-Koepenick) this pipeline grew significantly to its current size. After acquiring building approval, BUWOG Group is planning to build an entire urban quarter with as many as 800 residential units on an approximately 60,000 sqm land plot. The newly secured waterfront plot is located directly on the banks of the river Spree.

"We are deeply committed to keeping our promise to continue growing in Berlin in new residential construction", says CEO Daniel Riedl. "The efforts of the Berlin team in this regard are truly exceptional and of high-quality", he continues. "While other players on the market are spending increasing time and energy on takeover plans, we prefer to move forward with new residential construction".

About BUWOG Group

BUWOG Group is the leading German-Austrian full-service provider in the residential property business and now looks back on 65 years of expertise. Its property portfolio encompasses approximately 51,500 units and is distributed evenly in Austria and Germany. In addition to asset management (sustainable leasing and portfolio management), the entire value chain of the residential sector is covered by the sales (profitable sale of individual flats as well as properties and portfolios) and development (planning and construction of new buildings in Vienna and Berlin) segments. The shares of BUWOG AG have been listed on the Frankfurt, Vienna and Warsaw stock exchanges since the end of April 2014.

For more information, please contact:
 
Media inquiries Germany:  Investor Relations:

Peter Dietze-Felberg   Holger Lueth
RUECKERCONSULT GmbH   BUWOG AG
T: +49 (0)30 2844 987 - 62 T +43 (0) 1 87828 1203 dietze@rueckerconsult.de  investor@buwog.com

Media inquiries Austria:

Thomas Brey
M&B PR, Marketing, Publikationen
T +43 (0) 1 233 01 23 15
M +43 676 542 39 09
brey@lustigbrey.at



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2015-11-05 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English Company: BUWOG AG Hietzinger Kai 131 1130 Wien Austria Phone: +43 1 87 8281130 Fax: +43 1 87 8285299 E-mail: investor@buwog.com Internet: www.buwog.com ISIN: AT00BUWOG001 WKN: A1XDYU Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Wien (Amtlicher Handel / Official Market)  
 
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