DGAP-News: GIEAG Immobilien AG / Key word(s): Real Estate GIEAG Immobilien AG: GIEAG launches a further real property project just outside Munich with an area of 7,122 m² 28.09.2016 / 13:59 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- GIEAG launches a further real property project just outside Munich with an area of 7,122 m² - Building application for almost 100 apartments in Geretsried approved - Altogether four town houses at attractive locations planned - Completion by spring 2019 planned Munich, 28.09.2016. GIEAG Immobilien AG (GIEAG), a sustainably oriented project developer for commercial and residential properties with a focus on southern Germany, launches a further attractive project development in the field of residential real estate. In the city of Geretsried, just outside Munich, a total of 98 apartments in four town houses with a total residential area of 7,100 m², will be developed by spring 2019. GIEAG had acquired the corresponding plot of land of around 8,600 m² from the Free State of Bavaria, and the building application has just been approved by the Building Committee of the City of Geretsried. During the coming 24 months 2 to 4 room apartments will be built on the site, with a high quality and in conformity with the most recent building and energy standards. As agreed with the City of Geretsried, one of the town houses will be based on a publicly assisted rental housing scheme. Three town houses will be planned as condominiums. The properties include around 140 parking spaces in the underground carpark or in the open. GIEAG addresses both owner-occupiers and capital investors. Marketing and sales will start this year. Geretsried is considered as a very attractive location in the environs of Munich thanks to its good traffic connections to the Bavarian capital, including the planned extension of the S7 suburban train line and the proximity of lake Starnberg and the Alps. Consequently, the new project holds a high potential for GIEAG. Philipp Pferschy, member of the Executive Board of GIEAG: "The housing market is exceptionally profitable for property providers in the Munich region. We are, therefore, very pleased to have been able to acquire a perfectly suited plot of land in Geretsried from the Free State of Bavaria and that we can expedite the planning procedures in close coordination with the city of Geretsried. In this way we can benefit from the current opportunities on the real estate market. This will also be reflected by the income statement of our listed company." About GIEAG Immobilien AG (GIEAG) The project development company GIEAG Immobilien AG or GIEAG for short (www.gieag.de), founded in 1999, supports its customers from the idea through the financing and realisation to the sale of the finished property. Its focus is on the development of valuable office buildings, logistics centres and residential properties. In addition, the group of companies acts as an investor in residential properties with a particularly high development potential, located primarily in southern Germany. Contact GIEAG Immobilien AG Investor Relations, Philipp Pferschy Oettingenstraße 35 80538 München [email protected] Tel: +49 89 290516-0 edicto GmbH Axel Mühlhaus, Peggy Kropmanns [email protected] Tel.: +49 69 905505-52 --------------------------------------------------------------------------- 28.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: GIEAG Immobilien AG Oettingenstrasse 35 80538 München Germany Phone: +49 89 290516-0 Fax: +49 89 290516-11 E-mail: [email protected] Internet: www.gieag.de ISIN: DE0005492276 WKN: 549227 Listed: Regulated Unofficial Market in Munich End of News DGAP News Service --------------------------------------------------------------------------- 506663 28.09.2016