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Bonava Commences Construction on 128 Subsidised Rental Apartments in Berlin

2024-12-12

The apartments in Berlin are set to be delivered by the end of 2026. This significant development is being led by Bonava, the city's residential developer. Credit: Maksim Safaniuk via Shutterstock.Bonava has announced the sale and commencement of construction on these 128 subsidised rental apartments for the public company Gesobau. This marks a crucial step in meeting Berlin's housing needs as the city requires 20,000 new homes annually.Sabine Helterhoff, the president of the Bonava Germany Business Unit, expressed excitement about starting construction on this new neighbourhood in the eastern parts of Berlin. "Here we are now selling and starting a rental project, but over time we will also build homes for consumers," she said.The 128 apartments are part of the first phase of the 'Cecilien-Carré' residential neighbourhood, which is being developed along Hellersdorfer Strasse in the Hellersdorf district.Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research and gain a competitive edge. View profiles in store.Company Profile – free sample. Your download email will arrive shortly.We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form. By GlobalData.Tick here to opt out of curated industry news, reports, and event updates from World Construction Network.I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the privacy policy.Submit and download. Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.All apartments will adhere to the Berlin state housing subsidy scheme guidelines. The neighbourhood will span over 10,000m² and is planned to include a total of 272 homes with mixed tenures. By mid-2028, the area will feature eight apartment buildings arranged around a communal courtyard.In recent developments, Bonava began production of an additional 150 housing units across the Baltics and Sweden, as well as a project comprising 99 rental state-subsidised apartments in Turku, Finland. The completion of the housing units in Finland is anticipated in the first quarter of 2026. Prior to this, the company initiated the Seminariet housing project's first phase in Luthagen, near central Uppsala, Sweden. This project is set to deliver its first 66 new homes to customers by the second half of 2026.