DGAP-News 336 0 Kommentare GIEAG Immobilien AG: GIEAG launches new major project in Stuttgart

DGAP-News: GIEAG Immobilien AG / Key word(s): Real Estate
GIEAG Immobilien AG: GIEAG launches new major project in Stuttgart

29.07.2016 / 12:06
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

GIEAG launches new major project in Stuttgart

- "Maybachstraße" project with office and residential space and 17,000
square meters of gross floor space

- Investment volume of more than EUR 50 million

- Successor project for OASIS II in Stuttgart's Pragsattel district

- Construction scheduled to start in Q2 2017; completion scheduled for Q2
2019

Munich, 29 July 2016. GIEAG Immobilien AG (GIEAG) has made key progress in
its project development business and has launched a further major project
in Stuttgart. The office property OASIS II in Stuttgart's Pragsattel
district was completed in 2015 and sold to the well-known investor Amundi,
and the "Maybachstraße" project is now to be realised in the immediate
vicinity. Two properties - an office property and a residential property -
are to be realised on a site with a total area of around 5,800 square
meters and with total floor space of around 17,000 square meters. The total
investment volume is more than EUR 50 million.

Construction work is scheduled to start in the second quarter of 2017 and
take place in several stages. The project is expected to be fully completed
in 24 months, in the second quarter of 2019. Both the planned office
property and also the residential building will each have gross floor space
of around 8,500 square meters. The residential property is for residential
ownership and offers an attractive mix of dwellings with so-called town
houses with two floors and private gardens.

Christoph Klotz, a member of GIEAG Immobilien AG's managing board
commented: "We have now very successfully realised and sold OASIS II - the
largest project development in our company's history. Following on from
this success we are launching our latest major project with similar
dimensions - a volume of more than EUR 50 million and also with an
estimated construction period of 24 months. This once again proves our
competence as an experienced project developer for state-of-the-art real
estate and our excellent access to the market. We are also forecasting
attractive returns from this project."

About GIEAG Immobilien AG (GIEAG)

The project development company GIEAG Immobilien AG, which is abbreviated
as GIEAG (www.gieag.de) and was founded in December 1999, supports its
clients from the initial idea, to the financial and realisation of
projects, and on to the sale of the finished property. Its main focus is on
the development of residential properties, office buildings, and logistic
centres. In addition, GIEAG also operates as an investor for residential
real estate located primarily in southern Germany with particularly high
potential for development.

Contact:

GIEAG Immobilien AG
Investor Relations, Philipp Pferschy
Oettingenstraße 35
80538 Munich
ir@gieag.de
Telephone: +49 89 290516-0

edicto GmbH
Axel Mühlhaus, Peggy Kropmanns
amuehlhaus@edicto.de
Tel.: +49 69 905505-52

---------------------------------------------------------------------------

29.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

---------------------------------------------------------------------------

487665 29.07.2016