Property-related Capital Expenditure
The table below provides an overview of the property-related capital expenditure made by the company throughout the fiscal year.
In the acquisitions category, the previous year was primarily characterized by growth in Sweden with the acquisition of the Akelius Residential Property portfolio and of Hembla AB. In 2020, portfolios that are smaller in comparison were acquired in Germany, with a focus on Kiel and Berlin.
The investments made in new construction in 2020 were not quite able to match the prior-year level (-11.7%). The investments made in the existing portfolio were on a par with the previous year.
The coronavirus pandemic did not have any major impact on our investment strategy, and only isolated modernization and new construction measures were affected by construction delays.
in € million |
2019 |
2020 |
Change in % |
|---|---|---|---|
|
|
|
|
Acquisitions |
3,694.1 |
292.6 |
–92.1 |
Development |
493.0 |
435.5 |
–11.7 |
Investment properties |
1,117.6 |
1,114.5 |
–0.3 |
Other |
– |
– |
– |
Property-related capital expenditure |
5,304.7 |
1,842.6 |
–65.3 |
|
|
|
|