With around 600 apartment units currently in the sales pipeline, and an annual construction volume of around 500 apartment units, the housing development division of CORPUS SIREO is Germany’s second-largest project developer, as a recently published analysis by BulwienGesa suggests. At the moment, the company is developing projects in Cologne, Bonn, Darmstadt, Mainz and Munich.
With around 600 apartment units currently in the sales pipeline, and an annual construction volume of around 500 apartment units, the housing development division of CORPUS SIREO is Germany’s second-largest project developer, as a recently published analysis by BulwienGesa suggests. At the moment, the...
For instance, the company is developing the “allegro Sülz” residential estate in a sought location near Beethovenpark in Cologne. Within just two months, 30 percent of the units were already sold. Another project in Cologne is “Arnoldshöhe,” a new residential estate between the southern end of town and the green belt. Also, CORPUS SIREO Projektentwicklung Wohnen GmbH is tackling a large-scale project on the grounds of the former mounted-police barracks in Cologne’s Marienburg district in collaboration with the Cologne-based Bauwens Gruppe. It will be home to a new city quarter with around 450 apartment units.
In Mainz, construction is well underway at the “Winterhafen” project that will include 134 apartments and more than 15,000 square metres of total residential floor spare directly on the Rhine riverbank. CORPUS SIREO has shouldered this 50-million Euro project together with a local partner, Mainzer Aufbaugesellschaft (MAG). Shortly after the start of construction, half of the project units were already sold.
Project Development Division of CORPUS SIREO Pursues a Conservative Growth Strategy
Said Michael Westerhove, Managing Director of CORPUS SIREO Projektdevelopment Wohnen: “Residential real estate counts among the top investment products in Germany at the moment. Even from a developer’s perspective, now is the time to sell. Buyers are well advised to enter the market now, for it is anybody’s guess whether the run on German residential real estate will continue for another three years or not.”
The project development division of CORPUS SIREO attaches great importance to a client-oriented long-term corporate strategy. That explains why the housing development division will not be expanded on a massive scale even though around 600 residential units currently under development are now in the sales stage.
“We are growing in line with the market, and try to keep an eye on the real estate market cycles,” added Westerhove. “What matters is a clear look ahead at the long-term market trends. Since we act in the best interest of our clients, we keep both feet on the ground.”
In order to be able to take on new projects, CORPUS SIREO is always on the lookout for properties and buildings as well as for joint venture partnerships. To this end, the company focuses on downtown areas and conversion properties in the metropolitan areas of Cologne, Bonn, Düsseldorf, Munich, and Frankfurt am Main.
ABOUT CORPUS SIREO
CORPUS SIREO, based in Cologne, has 14.5 million square meters in commercial and residential real estate with an aggregate value of more than 15 billion Euros under management, and is thus Germany’s biggest provider of asset management services.
The company with a staff of around 560 professionals at eleven locations in Germany and Luxembourg is also the market leader in regard to the number of managed asset classes: Serving seven asset classes (office, residential, retail, logistics, healthcare, production/technology, others), CORPUS SIREO offers the broadest spectrum of all German asset managers.
Accordingly, even rival companies rate CORPUS SIREO as the chief competitor on the market. (These are the findings of the “Real Estate Asset Management Report 2011" by Bell Management Consultants.)
To investors, banks, and companies with proprietary real estate portfolios, CORPUS SIREO offers investment management and asset management services along the entire real estate supply chain. Moreover, the company acts as broker and project developer for owner-occupiers and investors.
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