A joint press release from BUWOG, CAIROS und Aengevelt:
BUWOG has acquired an approximately 50,000 sqm site in Naunhof, southeast of Leipzig, through Aengevelt. The seller is project developer CAIROS. BUWOG plans to build around 300 apartments on the site. A total of around 35,000 sqm of floor space will be created.
construction project includes nine apartment buildings
The site is located between Straße des 9. November and Grillensee in Naunhof. The construction project includes nine apartment buildings. A total of around 300 two- to five-room apartments will be built. The primary focus is on apartments that are suitable for the elderly and for families. The project will be built in three construction phases beginning in 2024 and is scheduled for completion in 2027. All of the apartments will have balconies or terraces, or rooftop terraces or gardens, as well as direct access to the green outdoor areas. In the future, one commercial unit will serve as a neighbourhood gathering place and house, for example, a small café. BUWOG is investing a total of around EUR 115 million. When awarding construction contracts, BUWOG plans to give special consideration to suitable companies and trades from the Leipzig district.
BUWOG Managing Director Eva Weiß:
“The attractive location in Leipzig’s green ring area provides the optimal conditions, particularly for young families, couples and older people. We are pleased we will soon be able to develop new residential space in implementation of the municipality's goals from the present development plan.”
Marcus Bube, Managing Director of CAIROS Group:
“The municipality's urban development goals are an ideal match for BUWOG’s expertise as one of the leading residential property developers. We are therefore delighted with the successful transaction and wish the buyer every success with this trend-setting construction project in the Leipzig district.”
Ullrich Müller, member of the Management Board and director of the Leipzig subsidiary:
“Leipzig is growing and benefits from the region’s attractiveness and as a prospering business location with a high quality of life. Naunhof offers the highest quality of life with its forests and lakes. At the same time, the city of Leipzig can be reached quickly via the A 14 motorway and the very well-developed local transport system.”
About BUWOG
BUWOG now looks back on 70 years of expertise in the residential property business and currently has a development pipeline of around 32,000 residential units. BUWOG is a subsidiary of Vonovia SE, Europe’s leading residential company, which is located in Bochum (Germany), and has an energy management system in accordance with ISO 50001.
