TD News International: 24/02/2017

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Construction contracts hit highest level since 1996

24/02/2017 The German building industry recorded 13 % more contracts last year. This workday- and price-adjusted figure was released this morning by the Federal Statistical Office (Destatis). Nominally, contracts increased by 14.6 % to €67.8bn, reaching their highest level in 20 years (1996: €72.3bn). Commercial construction accounted for €17bn (+15 %) and residential construction made up [...]

Nuremberg: Dream Global buys lot adjoining Siemens Campus

24/02/2017 Dream Global is spending €6.8mn on a 4.5 ha lot next to the Siemens Campus in Nuremberg they bought in November. The Siemens Campus on Gleiwitzer Straße alone measures 14.6 ha and currently offers 55,000 sqm usable space. Both lots are to be developed. Last year, the Canadian REIT transacted purchases worth €155mn and sales [...]

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AXA IM buys student housing project in Dresden

24/02/2017 AXA Investment Managers has acquired a planned student housing complex in Dresden’s Südvorstadt-West. The project on Nürnberger Platz and thus directly adjacent to the Technical University campus will encompass 289 apartments with 15,910 sqm GFA on eight floors and is scheduled to be finished by the spring of 2019. Some retail space is also planned. [...]

Swiss SSN plans second project in Berlin

24/02/2017 The SSN Group is planning 10,800 sqm office space on Franklinstraße 26 a in Charlottenburg. The Swiss company has now bought the roughly 3.600 sqm lot from Kilian Immobiliengruppe. A positive preliminary building permit has already been issued, so construction should start in Q1 of 2018. The building is scheduled to be completed in Q3 [...]

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Aberdeen buys Revitalis housing project in Dresden

24/02/2017 Aberdeen is purchasing 177 planned apartments in Dresden in a forward deal. The seller of the project across from the “Kulturkraftwerk Mitte” is a joint venture of Revitalis and Dereco. The apartments will have a total of roughly 13,000 living space and will be supplemented with about 1,200 sqm retail space and 190 underground parking [...]

Heidi Schmidtke returns to JLL Hotels

24/02/2017 Heidi Schmidtke (37) has accepted the position of Executive Vice President of JLL Hotels & Hospitality Group in Germany as of 15 February, and as such is now leading the Advisory unit. She rejoins JLL after having worked for Art-Invest Real Estate Management since 2015. Before that, she had been Senior Vice President of JLL’s [...]