Vonovia completes new construction with a living space of more than 157,000 m²

More than 2,400 housing units built: Vonovia completes new construction with a living space of more than 157,000 m²

• Vonovia completed a total of more than 2,400 housing units during the year 2023.
• The Bochum-based company expects a similar number of new homes to be completed during the current year.
• Diverse new construction portfolio in different cities and areas.

Bochum, February 6, 2024 – Vonovia SE (“Vonovia”) completed a total of more than 2,400 housing units over the past year – primarily in Germany, Austria, and Sweden. Despite difficult market conditions, the Bochum-based housing company is thus fulfilling its commitment to complete new construction projects that have already been started. Vonovia also expects to complete the same number of housing units during the current year.

The newly completed 2,400 housing units span a total area of more than 157,000 m² and can be found in various cities and areas. In particular, the development team from the subsidiary BUWOG has built a diverse package of housing units for its own rental portfolio as well as for sale to meet people’s different housing needs.

Despite challenging conditions such as increased construction costs, rapid-ly rising interest rates, and stricter rent regulation, Vonovia’s goal re-mains to provide affordable housing. In this way, the company is con-tributing significantly and actively providing solutions for the tight housing market. For this reason, not only are all construction projects that have already been started being completed as announced, but new projects are also under development up to the point of building law. In this way, the housing company remains flexible and can start building further projects as soon as conditions have improved substantially.

The use of the photo material is free for editorial use. Please cite the source as follows: Von der Waydbrink / Vonovia.
Image caption: Vonovia completes its construction projects. The Bochum-based housing company created more than 2,400 housing units last year. The photo shows a construction site in Berlin. 
 

About Vonovia

Vonovia provides a home for over one million people. The housing company is at the center of society, which is why Vonovia’s activities never just have an economic perspective, but always a social one as well. Vonovia is involved in finding answers to the current challenges on the housing market. The company is committed to greater climate protection, increased age-appropriate housing, and good coexistence in neighborhoods. In cooperation with social organizations and the districts, Vonovia supports social and cultural projects that enrich neighborly community life. Customers and their needs are the focus of Vonovia’s activities. On-site property managers and in-house craftsmen take care of tenants' concerns. This customer proximity ensures a fast and reliable service. Vonovia also invests substantially in the maintenance of its buildings and develops housing-related services to improve quality of life.

The Bochum-based company has been listed on the stock exchange since 2013. The shares were included in the DAX in September 2015. Vonovia employs around 15,800 people. Chairman of the Management Board is Rolf Buch.