Königreich Direkt Porz

Together with the real estate company Stefan Frey AG Convalor acquired a property of about 80.000 square meters located centrally in Porz, a borough of Cologne. Here 351 accommodation units are being built as single and multi family houses in a residential development named „Die Physikersiedlung“.

In renovated buildings as well as new buildings the „Physikersiedlung” will offer homes at reasonable purchase prices especially to young families. The new buildings feature high energy efficiency and low CO2 emissions and hereby entitle to public funding. Modern town houses are already available from € 180.000, freehold apartments from € 99.000.

Since the beginning of the distribution 150 of the accommodation units already have been sold. The investment volume is around € 67.8 million. With the sale on schedule the completion will be by the end of 2008.