Con­struc­tion projects in Berlin climb to record high

Financial Mirror (Cyprus) - - FRONT PAGE -

Berlin is de­vel­op­ing in­creas­ingly into an El Do­rado for project de­vel­op­ers. This is the up­shot of a survey Bul­wienGesa Val­u­a­tion un­der­took on be­half of de­vel­oper Hochtief Pro­jek­ten­twick­lung and co­op­er­a­tive bank Ber­liner Volks­bank.

The survey by the mar­ket an­a­lyst looked at projects com­pleted, un­der con­struc­tion or in plan­ning. It re­turned a record re­sult for the Berlin-Pots­dam metro re­gion: be­tween 2011 and 2018, the vol­ume of the project de­vel­op­ment floor space that has been or will be com­pleted rose to around 7.66 mln square me­tres. This is an in­crease by 655,000 sq.m. since 2013 which it­self was a banner year.

The trend is led by hous­ing con­struc­tion: res­i­den­tial projects ac­count for 66% or 5.06 mln sq.m. of de­vel­op­ment area. The lat­ter fig­ure breaks down into a 60% share of con­do­mini­ums and a roughly 32% share for rental flats.

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