Consus Real Estate AG, acting via its subsidiary company CG Gruppe AG, has secured five individual new projects for a total expected sales volume of around €750m.
With the secured properties, the company intends to develop in the next 3 to 4 years a total of approx. 1,670 apartments with over 153,210 m² of residential area and approx. 29,968 m² of commercial space. The projects are located in leading proprietary locations of Hamburg, Cologne, Stuttgart / Böblingen and Erfurt.
These newly added projects are increasing the current development volume of CG Gruppe to approx.€5.4bn. The further growth of the development portfolio is in line with the strategic priority of CONSUS to further expand its leading position in Germany's top 9 cities for residential real estate development.
The acquisitions are in line with CONSUS' financial targets including an EBIT margin of around 20% and residential sales per square meter of around €5,000. The total forward sales backlog for CONSUS current stands at around €1.6bn.
