New Year’s greeting

As 2020 draws to a close, we can allow ourselves to look back at what has been an eventful year. And with refreshed energy, we can then look forward to an exciting and challenging year ahead in 2021, with its exceptional projects. With this New Year’s greeting, we would like to take the opportunity to bring you up to date with the most important events at ZAR Real Estate Holding.

The ZAR Real Estate portfolio again grew considerably in 2020, with a current gross development volume (GDV) of 5.6 billion EUR and a gross floor area of over 1.2 million square metres. Last year, we succeeded in generating numerous new projects for development, such as the ‘Green Living’ project in Berlin and ‘The Theo’ in Düsseldorf.Positive preliminary building permits have already been issued for several of these projects.Thanks to successful optimisations in the course of 2020, we succeeded in selling our two Berlin developments, ‘Lakeside’ and ‘One Hundred’.

With the ‘CBS’ project in Berlin Prenzlauer-Berg, we have now commenced the next phase of our corporate development. CBS will be the first of many projects whose realisation will be initiated by ZAR Real Estate. All parts of the planned 11,000 square metres of gross floor area are now fully let. Following the conclusion of a long-term letting agreement with a hotel chain in 2019, we were able to let all of the remaining spaces last year to a well-known local utility on a long-term basis.

Also last year, we succeeded in expanding the ZAR Real Estate platform. Projects will now be conducted both from the site in Munich and from our branch offices in Berlin and Düsseldorf. The ZAR Real Estate Holding team also continues to grow steadily. Daniel Argyrakis entered ZAR Real Estate on 1 January 2020 to take up his position as CFO. We look forward to our collaboration with Mr Argyrakis, who has many years of experience in supporting property and project developers, as well as housing and hotel companies. He has previously worked at two of the ‘Big Four’ consultancy companies, where alongside year-end audits, he was most recently entrusted with reorganising and implementing internal processes at real estate companies.

We wish him a successful and, above all, healthy 2021!