German listed real estate investor Consus has expanded its development pipeline by securing deals for five new individual projects in Germany for a total expected sales volume of around €750 mln.
The company intends to develop a total of around 1,670 apartments with over 153,210 m2 of residential area and around 29,968 m2 of commercial space in the next three to four years via the core business unit 'development and production of residential properties' of its subsidiary company CG Gruppe.
According to Consus, the projects are situated in key locations across Hamburg, Cologne, Stuttgart and Erfurt.
The new schemes increase CG Gruppe's current development volume of around €4.6 bn by some €750 mln or 16%, to a total development volume of €5.4 bn.
Consus said the growth of its pipeline was in line with strategic objectives to expand in Germany's top nine cities for residential real estate development.