Bonava is selling a package of a total of 89 rental apartments in Düsseldorf, Germany, to the investor WOHNBAU GmbH from Bonn. The homes are expected to be completed and handed over to the customer in the fourth quarter of 2026. Production will start in the third quarter of 2024.

“In Düsseldorf, the need for sustainable rental apartments is great and it is therefore gratifying that, despite the current market situation, we are both selling and starting this project. The interest in our rental property projects is great and in the investor segment, buyers and sellers are starting to find each other again,” says Peter Wallin, CEO, Bonava.

Bonava has previously sold tenancy projects in the neighbourhood. The area is located close to transport, services and preschools. The 89 publicly subsidized rental apartments include 42 parking spaces in an underground parking garage and a commercial unit of approximately 160 square meters. In addition, parking spaces with charging stations for electric cars will be installed, and a car pool with electric cars will be established. The roofs of the energy-efficient homes will be equipped with solar panels and greenery.

Bonava is one of Germany's most active housing developers. In projects for investors, Bonava negotiates ongoing payment plans, which means they generate positive cash flow right from the start. In addition to rental apartments that Bonava sells to investors, the company also builds approximately 290 owner-occupied apartments in Paulshöfe. By the end of 2028, the entire residential area will have approximately 550 owner-occupied and rented apartments in twelve apartment buildings and approximately 315 underground parking spaces.

Germany is Europe's largest economy and the German government estimates that 400,000 new homes need to be built annually. Düsseldorf is Germany's sixth largest city. The city's size, combined with its proximity to Cologne and the Ruhr area, has made the area an important center for business in the region, where several leading large companies have their headquarters.