Property-related Capital Expenditure
The table below provides an overview of the property-related capital expenditure made by the company throughout the fiscal year.
Investments in new construction fell by 52.0% year-on-year in 2023. Investments in the existing portfolio were reduced by 34.3 %.
Property-related Capital Expenditure
in € million | 2022 | 2023 | Change in % | |||
Acquisitions | 354.7 | 6.5 | -98.2 | |||
Development* | 607.1 | 291.2 | -52.0 | |||
Investment properties | 1,248.9 | 820.5 | -34.3 | |||
Incremental lettable space | – | – | ||||
No incremental lettable space | 1,248.9 | 820.5 | -34.3 | |||
Other | – | – | ||||
Property-related capital expenditure | 2,210.7 | 1,118.2 | -49.4 | |||
- * Incl. attic conversions.