Gewobag is a German property company owned by the

State of Berlin Berlin ( , ) is the capital and largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's most populous city, according to population within city limits. One of Germany's sixteen constituen ...

which plans to own 80,000 apartments by 2030 in order to improve

housing affordability Affordable housing is housing which is deemed affordable to those with a household income at or below the median as rated by the national government or a local government by a recognized housing affordability index. Most of the literature on aff ...

.{{cite news, url=https://www.reuters.com/article/us-ado-properties-m-a-gewobag/germanys-gewobag-buys-flats-from-ado-properties-for-1-billion-idUSKBN1WB2WZ, title=Germany's Gewobag buys flats from ADO Properties for $1 billion, author1=Christoph Steitz, author2=Rosalba O'Brien, newspaper=Reuters, date=2019-09-27 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 Spandau () is the westernmost of the 12 boroughs () of Berlin, situated at the confluence of the Havel and Spree rivers and extending along the western bank of the Havel. It is the smallest borough by population, but the fourth largest by land ...

and

Reinickendorf Reinickendorf () is the twelfth borough of Berlin. It encompasses the northwest of the city area, including the Berlin Tegel Airport, Lake Tegel, spacious settlements of detached houses as well as housing estates like Märkisches Viertel. Subdi ...

. The purchase from ADO Properties cost 920 million euros and is considered the largest such purchase of apartments ever for Berlin.

References

Real estate companies of Germany Companies based in Berlin

See also

References