Further €750m new projects in Consus AG development pipeline

German listed real estate investor Consus has expanded its development pipeline by securing deals for five new individual projects in Germany for a total expected sales volume of around €750m. The new projects are situated in key locations across Hamburg, Cologne (2), Stuttgart and Erfurt.

The Berlin-based company, which with its recently 55%-acquired developer CG Gruppe, claims to be the largest residential developer in Germany now, intends to develop a total of around 1,670 apartments with over 153,210 sqm of residential area and around 30,000 sqm of commercial space in the next three to four years via the core business unit development and production of residential properties' of its subsidiary company CG Gruppe.

The new projects increase CG Gruppe's current development volume of around €4.6bn by some €750m or 16%, to a total development volume of €5.4bn.

Consus said the growth of its pipeline was in line with strategic objectives to expand in Germany's top nine cities for residential real estate development, and in line with CONSUS’ financial targets including an EBIT margin of around 20% and residential sales per square meter of around €5,000. The total forward sales backlog for CONSUS currently stands at around €1.6bn.

With CG Gruppe's development team under founder and driving force Christoph Gröner working on some of the most visible and prominent major new developments in Germany's A- and B-cities, Consus since the 2017 takeover of CG Gruppe seems to be harnessing its traditional strenghts of forward sales to institutional purchasers, as well as digitalisation and industrial serial production along the entire value chain of project development.