Instone buys resi plot in Dortmund for €100m scheme

Instone buys resi plot in Dortmund for €100m scheme

Published at: 2018-12-17 10:53 | Author: CIJEurope.com
Instone Real Estate is making inroads in Dortmund, most recently through the acquisition of a 17,200 sqm plot of residential land with the potential to deliver a gross floor area of around 30,000 sqm. The property is located in the city's Gartenstadt district, which is a quality location. The plot was sold by an affiliated company of Immowerk GmbH. Instone puts the anticipated sales volume at a total of approximately €100m and expects construction work to start in 2021. The neighbourhood development will start directly with the drafting of the planning consent. “We see a lot of potential in this location," said Andreas Gräf, CDO of Instone Real Estate. "We are planning to deploy our experienced North Rhine-Westphalia team to make a noticeable difference on Dortmund’s housing market with a large-scale but well-considered neighbourhood development. The growth strategy that we pursue as a leading listed residential developer is perfectly complemented by this acquisition.”

Similar Stories:

Kovanda: Flats in Prague could double in price by 2030
Prague is missing 20,000 flats, writes the economist Lukáš Kovanda, and with 160,000 new  »
Apartment sales start at Jagodno project in Wrocław
Robyg has laid the foundation stone at the Jagodno scheme, going up between Buforowa and K  »
Erbud to start construction on Port Popowice in Wrocław
Erbud is planning to start construction on 144 apartments that will be part of the Port Po  »
Housing prices in Hungary’s Balaton average €3,200 per sqm
Housing prices in Hungary’s Balaton region are on the rise. Apartments along Lake Balato  »
Investors from China, Russia and other countries are leading a growing influx of foreign f   »
Czech Republic  ♦  Round Hill plots European growth
The buildings are located in Helsinki and in regional towns near the south of the country.   »
The 340 apartments, built in a total of nine buildings, have long since sold out as Slovak   »
Emotions are running high on the Romanian residential market where demand is outstripping   »