An exceptional year for ZAR Real Estate is now drawing to a close. In the midst of the corona crisis, which continues to present the industry, society, and us with enormous challenges, we at ZAR Real Estate achieved the most successful year in the company’s history.
Over the course of the year, we have successfully signed a total of nine purchase contracts, equivalent to a planned gross floor area of 625,000 m² and a GDV of over 2.9 billion EUR.For the first time, we now have no fewer than four new residential and commercial projects in our home market of Munich, with a planned gross floor area of 190,000 m² and a GDV of 1.25 billion EUR.
The first half year was primarily concerned with the sale of a subportfolio, which caused a sensation throughout the trade press. With a volume of 1 million m² planned gross floor area and a GDV of approximately 4.5 billion EUR, it was our biggest real estate deal of the current year up to that point. It was this transaction that made the further strategic development and expansion of the ZAR platform possible and enabled us to invest in the future.
We are currently also working on our first fund, conceived for the purpose of financing our future projects. Naturally, our processes and structures are oriented in line with ESG criteria and sustainability paradigms.
It is only thanks to our skilled and motivated team that we are able to implement our projects.Our team has recently been strengthened by the appointment of Daniel Argyrakis, both in his function as CFO since January 2021 and as Managing Director since April 2021. In addition, Martin Hofmann joined the company in October as its second Managing Director and Chief Development Officer. We also managed to get Timo Tschammler, an acknowledged real estate expert, on board to support ZAR Real Estate in its further progress, as a member of the Advisory Board.
The enlargement of the team was followed in October by the move into our new office premises at a central location on the Maximiliansplatz in Munich. In addition, our Berlin site is set to open in 2022, while the Düsseldorf office will be bolstered by additional recruitments in development and transactions.
Our first independent trade fair presence at the EXPO REAL 2021 in Munich successfully demonstrated that ZAR Real Estate is perfectly well equipped to take on the competition.Trade visitors to our stand of almost 100 m² made the most of the opportunity to find out all about ZAR and its activities. The successful start of our first exhibition activities and the splendid year 2021 was celebrated at the ‘After-Expo Dinner’ at Käfer’s Bistro in Munich—a perfect end to the day.
The ZAR Real Estate team would like to wish you and your family a happy and peaceful Christmas and a good start to the coming year. Enjoy the holidays and recharge your batteries in readiness for a 2022 full of success, both professionally and personally. Finally, we would also like to thank you for our positive and successful cooperation in 2021.
Keep safe and well!