Gewobag

Last updated
Gewobag Wohnungsbau-Aktiengesellschaft Berlin
Industry real estate
Founded14 May 1919
Headquarters
Key people
Snezana Michaelis, Markus Terboven (Vorstand)
Michael Sachs
(Aufsichtsratsvorsitzender)
Revenue427,700,000 euro [1]
Number of employees
658 [1]

Gewobag is a German property company owned by the State of Berlin [2] which plans to own 80,000 apartments by 2030 in order to improve housing affordability. [3]

Gewobag's name comes from a shortening of its former legal name, German : Gemeinnützige Wohnungsbau-AG Groß Berlin, roughly "Public Housing Construction Corporation of Greater Berlin".

In September 2019 Gewobag bought 6000 apartments, mostly in Spandau and Reinickendorf. [2] The purchase from ADO Properties cost 920 million euros [3] and is considered the largest such purchase of apartments ever for Berlin. [2]

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References

  1. 1 2 https://www.gewobag.de/wp-content/uploads/2019/06/presse_publikationen_bericht_2018-1.pdf.
  2. 1 2 3 David Verbeek. "Berlin Seeks to Ease Housing Pressure With $1 Billion ADO Deal". Bloomberg.
  3. 1 2 Christoph Steitz; Rosalba O'Brien (2019-09-27). "Germany's Gewobag buys flats from ADO Properties for $1 billion". Reuters.