Vonovia to Build 3,000 Apartments, Including Military Housing, as Germany's Army Expands
Vonovia, Germany's largest real estate company, has plans to construct 3,000 apartments this year. This move comes after a two-year pause in their housing construction program and is partly driven by the need for more military housing due to the German military's planned expansion.
The German military is set to grow from 183,000 to 260,000 personnel, creating a significant demand for additional housing. Vonovia, under the leadership of CEO Rolf Buch, is interested in contributing to this construction. Buch, who previously worked at Bertelsmann and led the German Annington, Vonovia's predecessor, has overseen Vonovia's growth to become the largest real estate company in Germany and its listing in the DAX.
Buch envisions a 'factory housing 2.0' model, not only for the military but also for companies to order apartments from Vonovia. The company's experience in housing construction makes it well-suited to build suitable accommodations and grant occupancy rights to the military. Buch believes that housing near home bases is crucial for recruitment and retention of military personnel.
Improved construction framework conditions and the 'construction turbo' of the German government have encouraged Vonovia's renewed building plans.
Vonovia's plans to build 3,000 apartments this year, including military housing, are a significant step in addressing the growing need for accommodations. Under Rolf Buch's leadership, the company is well-positioned to efficiently build and manage these apartments, contributing to the German military's expansion and potentially providing housing solutions for other entities in the future.
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