UBM Development acquires 3-hectare development site in Munich Largest UBM project in Germany
Vienna/Munich, 21.01.2019 – UBM Development, the leading hotel developer in Europe, has secured a project for the future in Munich: a 28,000 sqm development site on Baubergerstrasse in Munich-Moosach, which is currently being used by a logistics company, was acquired through an off-market deal. Plans call for the creation of a mixed-use quarter with apartments and offices. UBM has already compiled an extensive development pipeline of € 1.8 billion for the next three years. „This project is an investment in our long-term earnings power”, explains Thomas G. Winkler, CEO of UBM Development. „The project in Munich will be the largest UBM project in Germany,“ adds Winkler.
Long-standing market presence provides access to the future project
The demand for new development projects in the top German cities is much greater than the supply, particularly residential. Even over the medium-term, the strong demand for housing, especially in Munich, is not expected to change. UBM successfully secured this project based on its long-standing market presence and strong regional network. Bertold Wild, Chairman of the Management Board of UBM Development Germany, explains: „We are convinced that this development project will create a harmonious set of buildings with tailor-made uses and increase the attractiveness of the Moosach district. In close consultation with the relevant authorities and political bodies, we will work to complete our planning as quickly as possible.“
Conception of a quarter with residential and office space
UBM estimates the conception phase will take three to four years. This period will cover the urban planning, preliminary approval process and subsequent implementation of a development planning process. The result will be a mixed-use quarter with residential and office space, including the required subsidised housing. Particular emphasis will also be placed on high-quality open and green areas. The parties have agreed not to disclose any information on the purchase price.
A number of real estate projects have been realised in the surrounding area over the past few years, with a positive impact on the neighbourhood. Examples are the Moosacher Meile (former Meiller site), the former BayWa property on the opposite site and developments near the Moosacher railway station. The area has good connections to the highway network and to public transport with the suburban railway, underground, tram and bus. A diverse infrastructure with a shopping centre can be reached within 7-10 minutes by foot.
UBM Development is the leading hotel developer in Europe. The strategic focus is on the three clearly defined asset classes hotel, office and residential as well as on the three core markets of Germany, Austria and Poland. With 145 years of experience, UBM focuses on its core competence, the development of real estate. From the planning to the marketing of the property, all services are offered from a single source. The shares of UBM are listed in the prime market segment of the Vienna Stock Exchange.
For additional information contact:
Anna Vay, CEFA
Head of Investor Relations & Corporate Communications
UBM Development AG
Tel.: +43 664 626 1314