"The development of affordable and attractive rental apartments is important in our efforts to realise our vision of creating homes and happy neighbourhoods where people have the highest quality of life. We are delighted to finalise another transaction with Bewag in Schönefeld," says Joachim Hallengren, President and CEO of Bonava.
This is the ninth transaction Bonava has conducted with Bewag and the third collaboration in the newly developed residential area 'Wohnen am Park' in Schönefeld at the southern Berlin border. Production is expected to start in the first quarter of 2020.
There is substantial demand in the German market, where an estimated 400,000 new housing units need to be built each year over the next ten years. In the spring, Bonava was named Germany’s most active housing developer for the seventh consecutive year according to the market location and analysis company bulwiengesa.