The German property developer P&P Group significantly exceeds transaction volume planned for 2024 - Over 500 units for more than EUR 150 million sold to institutional and private investors
|
Issuer: P&P Group
/ Key word(s): Real Estate/Annual Results
Nürnberg/Fürth, 31.01.2025 – The German property developer P&P Group significantly exceeded its transaction volume target in the past 2024 financial year. The company sold over 500 units worth more than 150 million euros between January and December last year. ‘An excellent result,’ sums up Eva-Maria Zurek, CEO of the P&P Group: ’In view of the challenging times in the property industry, this result cannot be rated highly enough.’ Transactions in various areas contributed to the excellent result. Christoph Langfritz, CIO of the P&P Group: ‘In addition to global sales to institutional and private investors, we were also able to sell around 150 flats to individual investors via our proprietary platform.’ There was also a mix of existing properties and new builds in the projects. ‘This diversification of both sales channels and property types is the strength of the P&P Group,’ says Zurek: ’This basic structure characterises the company and enables us to react flexibly and appropriately to the necessary requirements in each case.’ Examples of the P&P Group's sales successes in the 2024 financial year include the sale of a further construction phase of flats on the Lagarde Campus in the Bavarian city of Bamberg (Sunshine Lofts) and several global sales across the entire metropolitan region Nuremberg/Fürth area, also in Bavaria, such as more than 100 climate-friendly new-build flats (KFN), six existing multi-family homes and a property with over 120 units under construction. The interest rate trend had a positive effect on demand in the second half of the year. ‘Many investors took advantage of the favourable situation,’ explains Langfritz: ’Financing conditions have fallen by around one per cent over the course of the past year, thanks in part to several interest rate cuts by the European Central Bank. At the same time, prices are still well below their former highs following the 2023 consolidation. However, in view of the strong rental trends in the residential sector, this market environment is creating interesting investment opportunities that are being utilised by individual market participants.’ CEO Zurek is optimistic about the new financial year. ‘The P&P Group wants to achieve another record result in 2025. The pipeline is filled with some very good projects. Our strategy of identifying potential early on in neighbourhoods that have not been the focus of construction activity to date is paying off.’ This includes the development of promising undeveloped plots as well as undervalued existing properties. For Zurek, this strategy is the basis for the positive future prospects of the P&P Group: ‘Thanks to our successful business performance in the past and sufficient equity, we can make investment decisions very quickly. This enables us to utilise attractive project development opportunities and continue to make suitable offers to both private and institutional investors.’
Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
