DGAP-News: GIEAG Immobilien AG: GIEAG launches MAYLIVING/MAYOFFICE building project in Stuttgart

GIEAG launches MAYLIVING/MAYOFFICE building project in Stuttgart

● Project development with 70 owner-occupied apartments
● Construction of around 10,000 square meters of office and commercial space
● Scheduled for completion in 2019

Munich, 8 May 2018. GIEAG Immobilien AG (GIEAG) has started to execute its MAYLIVING/MAYOFFICE construction project in Stuttgart. A total of 70 owner-occupied apartments and around 10,000 square meters of office and commercial space will be created on the plot in Maybachstraße. Sufficient car parking will also be created with a three-level underground parking garage. The project is scheduled for completion in 2019 and is being financed by Kreissparkasse Esslingen-Nürtingen.

As a result of its location at the "new" Theaterplatz in Stuttgart and the attractive project design GEIAG is already enjoying a great degree of interest from potential tenants and purchasers for the office space and apartments, even at the start of construction. A long-term rental agreement was already concluded with the childcare facility KINDERVILLA when marketing for the project commenced. The project comprises two buildings, thus creating an attractive, mixed quarter. The two buildings will be connected to each other with a interior courtyard filled with greenery.

Thomas Männel, a member of GIEAG's managing board, commented: "Our experience gathered over the past roughyl two decades is coming together in the MAYLIVING/MAYOFFICE project development. I am very pleased with the high level of interest in the apartments and the commercial areas, even at the start of marketing."

Alexander Pferschy, a member of GIEAG's supervisory board added: "We are creating new residential space for high-quality living in this project, as well as attractive offices and commercial facilities. In addition, from an urban development perspective we are making a key contribution to designing the "new" Theaterplatz in Stuttgart."

About GIEAG Immobilien AG (GIEAG)

GIEAG is a family-run Munich based, public limited real estate company. Shares of GIEAG Immobilien AG are traded on the Munich stock exchange. GIEAG's team of experts guarantees innovative and future-proof concepts. The combination of three asset classes - office, residential and logistics - and its two areas of activities - development and investment - means that the company has a stability that is unique on the market. During the past 18 years GIEAG Immobilien AG has developed and optimised a large number of real estate projects ranging in size from between 1,500 m² to 145,000 m² and with individual investment amounts of up to EUR 100 million. A partner-like approach, consistency, secure transactions and speed form the basis of GIEAG's sustainable value growth.

Contact

GIEAG Immobilien AG
Investor Relations, Philipp Pferschy
Oettingenstraße 35
80538 Munich
ir@gieag.de
Telephone: +49 89 290516-0

edicto GmbH
Axel Mühlhaus, Peggy Kropmanns
amuehlhaus@edicto.de
Tel.: +49 69 905505-52