The most pressing challenge facing the housing industry in Germany is the creation of affordable living space in central locations. Vonovia is playing an active role in creasing this new affordable living space.
As far as its new construction activities are concerned, Vonovia makes a distinction between undeveloped and developed land. On developed land, we create new living space by adding extra stories to existing buildings. On undeveloped land, we create new living space by constructing new buildings. What both of these measures have in common is that we always focus on series production based on modular construction.
The term “modular” means that the building is erected using standardized elements produced in the factory that are then transported directly to the construction site. The modules only need to be assembled on site. Vonovia uses three approaches in this regard: Precast concrete construction, wood hybrid and steel skeleton. The company recently concluded a framework agreement with a major precast concrete construction manufacturer. This standardized construction allows both the costs of new residential construction and the construction period to be reduced considerably. This allows Vonovia to create new living space more quickly. What is more, the costs are not only lower – they are also easier to calculate than with other forms of construction. The main advantage is that this more efficient construction method allows the new apartments to be offered at affordable rents as a result.
In 2017, Vonovia initiated the construction of more than 1,000 new apartments, some of which have already been completed. The initial experience gleaned in 2016 and 2017 will serve as an important foundation for significant expansion of the new construction volume over the next few years. Following Bochum and Dortmund, upcoming projects include new construction in Munich, Bremen, Hamburg, Berlin and Frankfurt.