Gewobag
Gewobag is a German property company owned by the State of Berlin[2] which plans to own 80,000 apartments by 2030 in order to improve housing affordability.[3]
 | |
| Industry | real estate |
|---|---|
| Founded | 14 May 1919 |
| Headquarters | |
Key people | Snezana Michaelis, Markus Terboven (Vorstand) Michael Sachs (Aufsichtsratsvorsitzender) |
| Revenue | 427,700,000 euro[1] |
Number of employees | 658[1] |
Gewobag's name comes from a shortening of its former legal name, German: Gemeinnützige Wohnungsbau-AG Groß Berlin, roughly "Public Housing Construction Corporation of Greater Berlin".
In September 2019 Gewobag bought 6000 apartments, mostly in Spandau and Reinickendorf.[2] The purchase from ADO Properties cost 920 million euros[3] and is considered the largest such purchase of apartments ever for Berlin.[2]
See also
References
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- David Verbeek. "Berlin Seeks to Ease Housing Pressure With $1 Billion ADO Deal". Bloomberg.
- Christoph Steitz; Rosalba O'Brien (2019-09-27). "Germany's Gewobag buys flats from ADO Properties for $1 billion". Reuters.
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