Gewobag
 | |
| Type | Aktiengesellschaft |
|---|---|
| Industry | Real estate |
| Founded | 14 May 1919 |
| Headquarters | Berlin-Moabit, Germany |
Key people |
|
| Revenue |  €654.9 million (2024) |
| Total assets | €6.25 billion (2024) |
Number of employees | 717 (2024) |
| Website | gewobag |
| Footnotes [1] | |
Gewobag is a German property company owned by the State of Berlin[2] which plans to own 80,000 apartments by 2030 in order to improve housing affordability.[3]
Gewobag's name comes from a shortening of its former legal name, German: Gemeinnützige Wohnungsbau-AG Groß Berlin, roughly "Public Housing Construction Corporation of Greater Berlin".
In September 2019 Gewobag bought 6000 apartments, mostly in Spandau and Reinickendorf.[2] The purchase from ADO Properties cost 920 million euros[3] and is considered the largest such purchase of apartments ever for Berlin.[2]
In January 2020, the European Investment Bank provided Gewobag with a €240 million loan as part of a cooperation agreement to support the construction of 2,000 housing units by 2023. Additionally, in June 2021, the company issued a "Social Bond" worth €500 million on the capital market.[4] In the 2024 financial year, the company completed approximately 1,000 apartments.[1]
See also
References
- ^ a b "Annual Report 2024" (in German). Gewobag. Retrieved 11 May 2026.
- ^ a b c Verbeek, David (27 September 2019). "Berlin Seeks to Ease Housing Pressure With $1 Billion ADO Deal". Bloomberg News. Retrieved 11 May 2026.
- ^ a b Christoph Steitz; Rosalba O'Brien (27 September 2019). "Germany's Gewobag buys flats from ADO Properties for $1 billion". Reuters. Retrieved 11 May 2026.
- ^ "Gewobag gibt erstmalig Social-Bond in Höhe von 500 Millionen Euro aus" (in German). Gewobag. 18 June 2021. Retrieved 11 May 2026.
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