DGAP-News: VIB launches major new development project at Interpark by fully letting the first construction phase

Corporate news

VIB launches major new development project at Interpark by fully letting the first construction phase

Neuburg/Danube, September 24, 2018 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has concluded a long-term rental agreement with a leading carmaker from the region for the first construction phase of its largest reserved plot at the Interpark industrial estate near Ingolstadt.

The roughly 27,500 square metres of rental space, which are being developed on an existing site measuring some 113,000 square metres in total, represent the first stage of the entire development. Construction is scheduled to start in the fourth quarter of 2018, with the company anticipating the completion of the first construction phase in the fourth quarter of 2019.The investment volume for the state-of-the-art facility, which is suitable for logistics and light industry, amounts to about EUR 25 million.

"We are delighted to have got the development of the Zeppelinstrasse site at Interpark off the ground by fully letting the first construction phase. We are currently examining a range of options in order to find an attractive solution that will ensure sustainable use of the remainder of the site," explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel.: +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 929
86633 Neuburg/Danube Email: petra.riechert@vib-ag.de

Profile of VIB Vermögen AG (including BBI Immobilien AG)

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.