Corporate News

 

Berlin, 9 September 2020 – The Grounds Real Estate Development AG (The Grounds/ ISIN: DE000A2GSVV5) has acquired almost 10,000 m2 of land close to the new Tesla Gigafactory being built in Erkner / Hohenbinde. This site is in the area of a legally binding land-use plan, and can be developed with approx. 4,500 m2 of residential space.

Tesla plans to employ up to 12,000 staff to produce e-cars from the summer of 2021 onwards in the Gigafactory currently under construction in Grünheide. Where this entire workforce will be able to live in the future is unclear. For this reason, Grünheide and its surroundings are moving into the focus of investors to a greater extent since the decision about Tesla’s new site, and interest in real estate properties in this region has increased considerably in a very short time.

Thus, by acquiring this land in the eastern part of Berlin, The Grounds participates in the strongly growing short- and medium-term regional housing demand, and continues to implement its targeted strategic approach to the concentration of land and project developments for residential use.

Jacopo Mingazzini, managing director of The Grounds, comments: “By this acquisition, we are implementing our strategy of investing and building to a greater extent in Berlin’s affluent suburbs in the future. Beginning next year, up to 12,000 people will be working in the Tesla Gigafactory less than two km from our site. The demand for living space in the neighbourhood will rise strongly. We can satisfy a small part of this demand in a timely manner on our land.”

 

Contact:
The Grounds Real Estate Development AG
Arndt Krienen /Jacopo Mingazzini, members of the Management Board
Leipziger Platz 3, 10117  Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
E-mail: info@thegroundsag.com
Web: www.thegroundsag.com

UBJ. GmbH
Ingo Janssen, Managing Director
Haus der Wirtschaft, Kapstadtring 10
22297 Hamburg, Germany
Tel.: +49 (0) 40 6378 5410
E-mail: ir@ubj.de
Web: www.ubj.de


About The Grounds
The Grounds Group implements housing projects in German metropolitan regions. The Grounds Group also holds a steadily growing residential portfolio in fixed assets. The Grounds Real Estate Development AG is listed in the high-end open market segment of the primary market on the Düsseldorf stock exchange (ISIN: DE000A2GSVV5). Its headquarters are in Berlin, and it has an office in Stuttgart.

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