Contribution to New Build Projects in Metropolitan Areas
In recent years, the influx into cities has increased the pressure on residential property markets, especially in metropolitan areas. By building new housing in urban and central locations, Vonovia aims to help reduce this pressure. To this end, in recent years we focused even more intensely on developing entire neighborhoods (see Community Development and Contribution to Infrastructure). As part of this we are stepping up our development activities and, in addition to conventional methods, are focusing on a modular approach to new construction work in the case of densification and roof extensions in order to create new living space quickly and efficiently (see Portfolio in the Development Business). Densification continues to be of great importance to Vonovia, as it enables us to identify previously unused potential in our spaces and optimize their use. Furthermore, when it comes to forward-looking mobility concepts, we are reducing car parking spaces wherever possible and freeing up the space for alternative uses, such as homes and green areas.
The development business of the BUWOG companies is spearheading new construction projects. We refrain from speculating with building land and place increasing emphasis on implementing ecologically, socially and economically sustainable projects that meet the needs of all of our stakeholders in the long term.
For more on the topic of new construction, see Sustainable Construction and Development.