Trei Real Estate sees significant rise in project volume
Project development volume at the Tengelmann subsidiary Trei Real Estate rose to €730mn mid-year, a 46% increase year-on-year. Of this total, €130mn comes from the retail segment (end of 2018: €105mn) and €600mn from the residential segment (end of 2018: €580mn). Trei currently has a total of 3,300 residential units under development or in planning in Germany, the Czech Republic, Poland and the United States. Poland, with 1,600 units, is the most important market. While condominiums being built there and in the Czech Republic will be sold, those in Germany are earmarked for Trei’s proprietary portfolio. The value of this portfolio remained unchanged at €1.1bn at mid-year.
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