InCity Immobilien AG

InCity Immobilien AG and Primus Immobilien AG realise joint project in top Berlin location

- Building of 35 new residential units directly on the Winterfeldtplatz in Berlin-Schöneberg - Overall sales volume of around 13.5 million EUR - Sales expected to begin in October 2008, completion planned for mid 2010

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real estate

Cologne (euro adhoc) - 9 September 2008 - InCity Immobilien AG, a group of companies specialised in the planning and realisation of high-quality properties in central urban locations, has acquired real estate in an attractive location in Berlin-Schöneberg together with its Berlin Partner, Primus Immobilien AG. The companies are planning to erect three new buildings with a total of 35 residential units as well as parking spaces on the undeveloped real estate at Winterfeldtstrasse 61-63, directly on the Winterfeldtplatz. Planning permission for the envisaged three buildings, each with seven storeys, has already been granted. Following completion, which is planned for mid 2010, the object will comprise total useful floor space of nearly 3,900 sqm with an overall sales volume of around 13.5 million EUR.

"We have obtained this project in one of Berlin's top locations together with our Berlin Partner. Situated directly on the popular Winterfeldtplatz and with excellent shopping facilities as well as numerous cafes and restaurants in the immediate vicinity, we shall create exclusive and high-value residential space here for discerning self-users and investors", explains InCity Managing Board member Klaus Prokop.

Franz-Josef Marxen, member of the Managing Board of Primus Immobilien AG: We are looking forward to realising this highly attractive project at a top Berlin inner-city location together with InCity Immobilien AG. We wish to start sales next month. We have already successfully carried out numerous projects together with InCity in the past."

About InCity Immobilien AG: InCity Immobilien AG specialises in the planning and realisation of high-quality property in central urban locations and enriches the residential spectrum by the "lifestyle" aspect for a clientele with a high purchasing power. InCity pools the experience accumulated through over 200 high-quality old building redevelopment and new building projects for discerning self-users and investors. The company creates exclusive, high-value residential space tailored to customers' wishes in top locations of German metropolitan areas. With the focus on the regions Cologne/Bonn, Berlin and Weimar/Erfurt as well as Rhine-Main, InCity caters to the rapidly rising demand from highly solvent target groups for urban quality of life in the city centres of German growth regions. For more information:

end of announcement                               euro adhoc

Further inquiry note:

InCity Immobilien AG
André Peto
Phone: +49 (0) 221 95 27 57 55

Investor Relations
Dariusch Manssuri
Phone: +49 (0) 221 91 40 970

Branche: Real Estate
Börsen: Börse Frankfurt / free trade/entry standard
Börse Berlin / free trade

Original-Content von: InCity Immobilien AG, übermittelt durch news aktuell

Weitere Meldungen: InCity Immobilien AG

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