Review of the first quarter of 2020
The entire ZAR Real Estate Holding team kicked off 2020 with a three day event. The programme included an analytical review of the excellent progress made in the previous year of 2019, leading to new strategies and target definitions being developed and presented for 2020.
In continuation of the outstanding growth course pursued in 2019, ZAR Real Estate Holding is undergoing further expansion in 2020. With the acquisition of lucrative new projects, ZAR Real Estate Holding expanded its product portfolio with the addition of properties in two of the Top 7 cities in Germany, with a total gross floor area of approximately 550,000 m².
In the first quarter of 2020, not only was the portfolio enlarged but new members were appointed to the team in Munich, enabling the company to better coordinate and focus on its new purchases and strategies.
The first quarter of 2020 ended with the successful sale of a project development. Following significant optimisation of the floor layout and after securing a positive preliminary building permit, the property in Berlin with a gross floor area of around 125,000 m² was sold to a local developer at a profit.