VIB plans activity in northern Germany with Dutch partner
VIB Vermögen is preparing a 50-50 joint venture to expand its project development business into northern Germany. Its cooperation partner is the Dutch developer WDP, which until now focused on the Benelux countries and has expressed interest in eastward expansion. The two companies have signed a letter of intent to examine joint logistics projects in North Rhine-Westphalia, Bremen and Hamburg under the umbrella of a joint company. After completion, the properties would be kept in the portfolio. VIB CEO Martin Pfandzelter says that this collaboration will enable both companies to pool their development expertise and complement their respective customer bases.
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