Essen, 18 April 2019: Instone Real Estate scored third place among the German residential developers in bulwiengesa’s “Property Developer Survey 2019.” At the same time, Instone placed fourth across asset classes, matching its prior-year ranking. With a property development total of around 580,000 square metres nationwide, the company managed to substantially expand its activities year on year (478,890 square metres). In Frankfurt am Main, Instone continued to expand its lead position as most active residential developer.
Kruno Crepulja, CEO of Instone Real Estate, commented: “We are proud of having managed to maintain our lead position among German property developers. The score means stimulation and motivation at once for us, because demand for residential accommodation in Germany’s cities remains as high as ever. With a drastic expansion of our property development pipeline in German metro regions and with the acquisition of nine projects in 2018, we laid the foundation for continued and sustainable growth.”
By the end of 2018, the project portfolio of the listed company included 45 development schemes with an expected aggregate sales volume of c. 4.8 billion euros. Out of a total of more than 11,000 residential units in the portfolio, around 1,800 flats are government sponsored and rent-controlled. Current construction projects include, inter alia, the “Quartier Luisenpark” in Berlin with around 550 residential units, 239 of which are mainly subsidised rental flats, plus a crèche. In Frankfurt, more than 2,000 flats for all population cohorts are under development in a new quarter on the former Siemens area in collaboration with Nassauische Heimstätte, a state-owned housing company. The necessary infrastructure to be created for the quarter includes a school and several crèches.
The survey that bulwiengesa publishes annually examines the volume of all completed development projects, properties under construction and properties in planning in Germany’s seven Class A cities, these being Berlin, Hamburg, Munich, Cologne, Frankfurt am Main, Stuttgart and Düsseldorf.
Instone Real Estate
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