Munich, 6th April 2022 – ZAR Real Estate Holding has purchased another plot of land in Munich. In Trudering, the project developer is planning a quarter with offices and 250 flats. Additional living space that the Bavarian capital urgently needs.

 

The 15,000 square metre site on Rappenweg is part of an overall area that is one of the last undeveloped areas in Munich on this scale. ZAR Real Estate’s plan envisages a quarter with offices and flats for the area.

“With this project, we are developing urgently needed residential space for Munich in a prime location. The plan is to create a sustainable quarter together with the city,” says Daniel Argyrakis, CFO and managing director of ZAR Real Estate. The new quarter is located in the immediate vicinity of Messestadt Riem and thus has excellent transport connections and a high recreational value.

Together with the City Planning Department of the City of Munich, as well as the other parties within the planning perimeter, the development of the quarter is being driven forward. Martin Hofmann, CDO and Managing Director of ZAR Real Estate Holding, sees the partnership-based cooperation with the municipality as essential: “In the dynamic submarket of Munich East, development pressure will continue to increase. It is all the more important that we, as the owner, have already given the basic approval and declaration of participation for Sobon 2017+ to the Munich planning department.” Statements on the planning content of the urban land use planning procedure, such as project and construction volumes, will be possible after the city council’s decision on the development of the site, which is expected in summer 2022, and the subsequent planning studies.