Vonovia SE: Vonovia sells Berlin housing stock from the Future and Social Pact for Housing to municipal housing companies
/ Key word(s): Miscellaneous
Vonovia sells Berlin housing stock from the Future and Social Pact for Housing to municipal housing companies
- Agreement on the sale of a total package of 14,750 Vonovia and Deutsche Wohnen apartments from the Future and Social Pact for Housing to berlinovo, degewo and HOWOGE
- 4,250 of these residential and commercial units at a price of EUR 811 million are from Vonovia's portfolio
- Commitments to limit regular rent increases until 2026 and to build 13,000 new flats in Berlin remain in place
Bochum, 17 September 2021 - Vonovia SE ("Vonovia") has successfully concluded talks on the sale of housing stock in Berlin to the municipal housing companies berlinovo, degewo and HOWOGE. In total, Vonovia SE and Deutsche Wohnen SE are selling 14,750 apartments from the Future and Social Pact for Housing in order to contribute to the expansion of municipal housing stock in Berlin and to alleviate strain on the rental market in the German capital. The sale agreement also includes around 450 commercial units. Around 4,250 of these residential and commercial units come from Vonovia's portfolio at a price of approximately EUR 811 million. This package includes around 800 apartments that will be notarised at the end of September. The apartments shall be transferred to the municipal housing companies in January and July of next year.
Rolf Buch, CEO of Vonovia: "With this sale of housing stock in Berlin to the municipal housing companies, we are fulfilling a central promise to the Berlin Senate from the Future and Social Pact for Housing. We are selling the apartments at a fair price. As a reliable political and social partner, we contribute sustainably to solutions for the Berlin housing market."
The flats in question form a portfolio that takes into account the wishes and requirements of the state and essentially reflects a cross-section of Vonovia's Berlin housing stock in terms of distribution as well as quality and value. The three municipal housing companies have independently selected the properties that best suit their needs from this portfolio.
"As well as contributing to the expansion of municipal housing stock, we continue to stand by our commitments to limit regular rent increases across our combined Berlin portfolio until 2026 and to build 13,000 new flats in Berlin. In this way, we will create more affordable, needs-based and climate-friendly housing - especially for young families. Only by working with political and social partners in the city will we succeed in tackling the challenges facing Berlin's housing market," Buch adds.
Vonovia is already committed to the goal of relieving pressure on the housing market by building attractive, affordable and climate-friendly apartments. The company constructs more than 2,000 new homes every year and is steadily increasing this volume. In the process, Vonovia is increasingly opting for the use of wood, a renewable raw material. The construction of around 700 flats in a modular timber design is already underway or complete. Vonovia is currently building 60 flats in the Berlin district of Reinickendorf. This new modular timber housing project will store 800 tonnes of CO2.
The company, which is based in Bochum, has been listed on the stock exchange since 2013. Since September 2015 Vonovia has been a constituent in the DAX 30 and since September 2020 in the EURO STOXX 50. Vonovia SE is also a constituent of additional national and international indices, including DAX 50 ESG, Dow Jones Sustainability Index Europe, STOXX Global ESG Leaders, EURO STOXX ESG Leaders 50, STOXX Europe ESG Leaders 50, FTSE EPRA/NAREIT Developed Europe, and GPR 250 World. Vonovia has a workforce of around 11,000 employees.
This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.
17.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Phone:||+49 234 314 1609|
|Fax:||+49 234 314 2995|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1234238|
|End of News||DGAP News Service|