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:

Impact presells 50% of its Luxuria project in the North-West of Bucharest
Developer & Contractor Impact is currently developing two projects in Bucharest: Green  »
Svoboda & Williams Partner of the Real Estate Forum Brno 2019 Conference
The first year of the professional conference entitled Real Estate Forum Brno 2019 took pl  »
Hagag Development sells 50% of H Victoriei 139 apartments
The Israeli developer Hagag Development mainly targets the luxury residential market, with  »
Prime Kapital: A new project in Iasi
Prime Kapital has a positive long-term view for Romania.The real estate investor currently  »
Where do you see your company going over the next two years? Since I became GM of the co   »
Construction has begun on Bispevika, a brownfield project along Oslo’s waterfront that   »
PSN has sold 350,000 sqm of land to the dominant Czech residential developer Central Group   »
Investors from China, Russia and other countries are leading a growing influx of foreign f   »