P&P Group

Sale of 6 apartment blocks ensures extraordinary good results for the German developer P&P Group in the third quarter 2024 - Rising demand in the Nuremberg/Fürth metropolitan region in Bavaria

Issuer: P&P Group / Key word(s): Real Estate/Disposal
Sale of 6 apartment blocks ensures extraordinary good results for the German developer P&P Group in the third quarter 2024 - Rising demand in the Nuremberg/Fürth metropolitan region in Bavaria

23.09.2024 / 09:40 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Fürth (Germany), 23.09.2024 – The German project developer P&P Group sold six apartment blocks in the cities of Nuremberg (four properties) and Fürth (two properties) in the third quarter of 2024 alone. The new owners of the properties in Bavaria with a total of 60 flats and around 3,800 square metres of living space are various private investors and family offices. The proceeds from the sale of these properties totalled over EUR 8 million. ‘Despite the challenging economic conditions in Germany, demand is increasing significantly. We are now seeing this positive overall trend in the metropolitan region not only in our condominiums, but also in our apartment blocks. This makes for a particularly good result in the current quarter,’ explains Christoph Langfritz, CIO of the P&P Group: ’Naturally, investors are currently scrutinising the location and quality of the projects particularly closely. As these factors are fundamentally present in our properties for sale, there were several interested parties for each of the six properties.’ All of the properties combined good connections to the city centre, public transport and private transport, which is always an important prerequisite for good demand for residential space. ‘In addition to these positive property features, buyers are also looking for potential for value appreciation, which has been consistently fulfilled in the properties sold,’ explains Langfritz.  The P&P Group sees its strategy confirmed in both condominiums and, as in this case, apartment blocks. ‘We develop existing properties and plots in urban areas with potential and then sell them to end investors,’ explains Langfritz: ’The fact that this works so well is due to our good knowledge of the market and the early identification of up-and-coming neighbourhoods with previously undervalued properties.’
  About the P&P Group:
The P&P Group has been developing, revitalising and marketing residential construction projects and commercial properties for almost 30 years. With a total transaction volume of more than 3.3 billion euros and currently around 130 employees, P&P covers all areas of the value chain as an initiator, investor and asset manager. Its core competencies include the development of new buildings as well as the revitalisation and modernisation of old buildings worthy of preservation.

Press contact:
Manuel Fogadic
Isaak-Loewi-Straße 124
90763 Fürth (Germany)
Tel.: +49 (0)911 – 76606145
Mail: [e-mail]

Wolfgang Ludwig
Mathias-Brüggen-Straße 124
50829 Köln (Germany)
Tel.: +49 (0)221 – 292 19 282
Mail: [e-mail]

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