Building application submitted for the select Zeppelinheim extended stay apartments in Neu Isenburg – The Grounds expects the building permit to be granted by the end of the current year
Berlin, 5 October 2018 - The Grounds Real Estate Development AG (ISIN DE000A2GSVV5), a portfolio holder with a clear focus on the acquisition, project development and sustainable management of residential properties in Germany, has concluded with the competent authorities the fine tuning of the building permit application for the planned extended stay apartments at Frankfurt Airport’s Terminal 3 currently being constructed in Neu Isenburg. The building application for the 225-unit micro-apartment complex for temporary housing has now been submitted. The Grounds expects the building permit to be granted before the end of the current year.
Start of construction is planned for 2020, to allow the micro-apartment complex to be completed in parallel with the opening of Terminal 3. Terminal 3 in the southern part of Frankfurt Airport, Europe’s most modern terminal, is designed to offer capacity for 14 million people per year. The current plans provide for the first phase of building to go onto the market in 2023, right on time for the summer flight plan.
The Grounds Real Estate Development AG
Management Board Chairman
Leipziger Platz 3, 10117 Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
Haus der Wirtschaft, Kapstadtring 10
T. +49 (0) 40 6378 5410
F. +49 (0) 40 6378 5423
Acquisition, project development and sustainable residential property management
The Grounds Group focuses on buying and developing residential property and, as a full-service provider for the business areas Investment (including property and asset management), Development and Trading, they have made it their goal to provide affordable living space for different life stages. The emphasis is on residential property, particularly also special real estate such as student and retirement living in German metropolitan regions and attractive locations such as aspiring outskirts in Germany. As a portfolio holder their medium-term aim is to establish a significant high quality real estate portfolio at a magnitude of EUR 500 million through investments and in-house development, allowing stable profits together with attractive dividend payments to The Grounds shareholders. The Grounds seeks to position themselves as one of the leading German real estate companies by creating added value within the scope of housing development and subsequent development of market capitalisation.