VGP Expands in Giessen, Germany, and Acquires Ownership "am Alten Flughafen"
PRESS RELEASE
- Fourth project of the company in the region Mittelhessen
- First building applications to be submitted in 2020
Antwerp, Belgium 13 May 2020, 03:00 PM CET – VGP, a leading European provider of high-quality logistics and commercial real estate, is planning the construction of a further business park in Giessen, in the federal state of Hessen, Germany.
For this purpose, VGP has acquired the 320,000 m² plot of land on the former US depot site, now the "Am Alten Flughafen" industrial estate.
VGP plans to develop the site according to the existing development plan and to submit the first building applications in 2020. From spring 2021, the buildings are to be erected, which will contain a lettable area of 150,000 m².
Darius Scheible, Managing Director of VGP Industriebau GmbH, underlines the importance of the project for the company and the good cooperation with the city: “VGP has been very kindly received in Giessen by the responsible persons in the municipality and will do everything in its power to be a good neighbour. By building additional halls in the region and concluding long-term rental agreements, we want to make a sustainable contribution to the creation of new jobs. “
VGP is already represented in the region Mittelhessen in Wetzlar, Lützellinden and Buseck and expects the site “Am Alten Flughafen” in Giessen to employ around 1,000 people in its final stage of development.
The VGP Group, which currently operates in twelve European countries, intends to push ahead with its expansion course. There are currently 29 industrial parks in nine federal states in Germany and more than 60 parks in 11 countries in Europe.
Sustainability is important to the company; all properties built by VGP meet the requirements for energy-efficient and sustainable construction. It is planned to equip the roofs of the halls to be built in Giessen with photovoltaic systems.
In March 2020, VGP presented its first Corporate Responsibility Report, which illustrates the company's progress and efforts to integrate and strengthen sustainability measures in its daily operations.
The report describes how VGP addresses sustainability issues, outlines the policies and guidelines that the company follows and explains the extended sustainability goals that VGP has set itself for 2020. The report was prepared in accordance with the GRI Sustainability Reporting Standards.
The company has already launched and implemented numerous initiatives in 2019. These include the introduction of VGP Renewable Energy, a new separate business unit wholly owned by VGP N.V., to use the available roof space on VGP parks for photovoltaic systems and modern energy technologies. The company also aims to have all new buildings certified with the qualification “Very Good” of the Building Research Establishment Environmental Assessment Method (BREEAM) from next year. The VGP Foundation was also established in 2019.
CONTACT DETAILS FOR BUSINESS PARTNER, INVESTORS AND JOURNALISTS
| Martijn Vlutters (VP – Business Development & Investor Relations) | Tel: +32 (0)3 289 1433 |
| Petra Vanclova (External Communications) | Tel: 07 |
| Darius Scheible Managing Director Germany - VGP Industriebau GmbH | Tel: 3 |
| Anette Nachbar Director, Brunswick Group | Tel: 63 |
ABOUT VGP
VGP is a leading European developer, manager and owner of high-quality logistics and semi- industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a development land bank (owned or committed) of 6.67 million m2 and the strategic focus is on the development of business parks. Founded in 1998 as a family-owned real estate developer in the Czech Republic, VGP with a staff of circa 220 employees today owns and operates assets in 12 European countries directly and through VGP European Logistics and VGP European Logistics 2, both joint ventures with Allianz Real Estate. As of December 2019, the Gross Asset Value of VGP, including the joint ventures at 100%, amounted to €2.77 billion and the company had a Net Asset Value (EPRA NAV) of €741 million. VGP is listed on Euronext Brussels and on the Prague Stock Exchange (ISIN: BE0003878957)
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