Bonava is selling project of 89 rental apartments in Germany
Bonava is selling a package of 89 rental apartments in Düsseldorf, Germany, to the investor WOHNBAU GmbH from Bonn. The housing units are expected to be completed and handed over to the customer in the fourth quarter of 2026. Production will start in the third quarter of 2024.
– There is huge demand for sustainable rental apartments in Düsseldorf, and it is gratifying that we, despite the current market conditions, can both sell and start this project. There is widespread interest in our rental housing projects, and in the investor segment buyers and sellers are once again starting to do business, says Peter Wallin, President and CEO, Bonava.
Bonava has previously sold rental apartments in the neighbourhood. The area is located close to public transport, services and preschools. The 89 publicly subsidised rental apartments include 42 parking spaces in an underground parking garage and a 160-square-metre commercial unit. There will also be parking spaces with charging stations for electric cars, and an electric car pool will be established. The energy-efficient housing units will feature rooftop solar panels and greenery.
Bonava is one of Germany’s most active residential developers. In projects for investors Bonava regularly negotiate payment plans, which means that they generate a positive cash flow from the very beginning. In addition to the rental apartments that Bonava is selling to investors, it is also building around 290 condominiums in Paulshöfe. By the end of 2028, the entire residential neighbourhood will have about 550 condominiums and rental apartments across 12 multi-family buildings and about 315 underground parking spaces.
Germany is Europe’s largest economy and the German government estimates that 400,000 new homes need to be built annually. Düsseldorf is Germany’s sixth largest city. The city’s size, combined with its proximity to Cologne and the Ruhr area, has ensured the area’s status as an important hub for business in the region, where several leading, major corporations have their head offices.
For more information, please contact:
Fredrik Hammarbäck, Group Head of Press and Public Affairs
Tel: +46 739 056 063
Anna Falck Fyhrlund, Head of Investor Relations
anna.falck@bonava.com
Tel: +46 707 604 914
Bonava is a leading residential developer in Europe with the purpose to create happy neighbourhoods for the many. With its 1,300 employees, Bonava develops residential housing in Germany, Sweden, Finland, Estonia, Latvia and Lithuania. To date, the company has built about 40,000 homes and reported net sales of approximately SEK 13 billion in 2023. Bonava’s shares and green bond are listed on Nasdaq Stockholm.
For more information about us, please visit: www.bonava.com
