Corporate News

VIB Vermögen AG acquires site with around 63,000 sqm for development pipeline and obtains building permission for property in Erding
 

Neuburg/Danube, June 24, 2021 - VIB Vermögen AG, a company specialising in the development, acquisition and management of commercial properties, is expanding its development pipeline by acquiring a land plot in Meitingen in the Augsburg metropolitan region. Building rights have been granted for the plot in Erding by now.

The property in Meitingen, with a size of around 63,000 sqm, is very attractively located in terms of infrastructure and therefore offers very good opportunities for the establishment of various industries. It already has an existing development plan which, among other things, provides for 24/7 use. The planning for the development of the site provides for a very flexible design, with a total of around 25,300 sqm of lettable space.

VIB Vermögen has now received the building permit for the plot in Erding with a total size of around 215,000 sqm by resolution of the city of Erding. A lettable area of around 86,000 sqm will be created on the site, which will be suitable for different types of use, whereby the focus of commercial use will be in the area of light industry.

"In times of increasingly scarce space, we are very pleased that we can expand our pipeline on the one hand, and on the other hand that we can now make an attractive offer for the Greater Munich area for the construction of modern, sustainable commercial space of a substantial size," explained Marin Pfandzelter, CEO of VIB Vermögen AG. "An important component in both projects was the close and constructive cooperation with the municipal representatives, which is ultimately decisive for the success."

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel.: + 49 (0)8431 9077-952
Tilly-Park 1 Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube, Germany Email:

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 years. It focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.