Consus Real Estate, based in Berlin, is the leading, listed residential real estate developer in Germany. The company’s development portfolio consists of 49 projects across nine cities with a gross development value of €5.3bn. It also owns a small commercial assets portfolio.
Consus Real Estate has further expanded its project portfolio with four acquisitions of development projects with c €1.2bn of gross development value (GDV) signed so far this year. As a result, it currently holds 68 projects in its portfolio with GDV exceeding €10bn. Importantly, 25 projects have already been forward sold and thus contributed to Consus’s earnings in H119. Together with nine projects under forward sale negotiations, they account for c 28% of portfolio GDV. The recently introduced rental cap in Berlin (12% of Consus’s portfolio) had no adverse impact on Consus’s operations, as newbuild apartments are exempt from the regulation.