Allianz Real Estate, developer Edge and pension fund Bayerische Versorgungskammer (BVK) have teamed up to develop sustainability and wellness-led office building in Germany.
The €1.3 billion programme will develop a series of prime offices in Germany’s top four cities. On completion, the assets will meet Carbon Risk Real Estate Monitor (CRREM) sustainability standards and support Allianz Real Estate’s targets to reduce carbon emissions across its global portfolio by 25% by 2025 and be carbon net-zero by 2050.
The buildings will also focus on user well-being and will also feature smart technologies. The program will cover new ground-up developments as well as refurbishing existing stock. The assets will be located in Berlin, Hamburg, Munich and Frankfurt.
Amsterdam-based EDGE is focused on high-tech sustainable and healthy developments; it has previously worked with Allianz on projects including EDGE East Side Berlin, an 866,495 sq ft office project due for completion this year (pictured above). Earlier this year, Macquarie Asset Management took a significant minority stake in the firm.
Annette Kröger, CEO, North & Central Europe, Allianz Real Estate, said: “We continue to believe in the office sector and are excited to launch this program with our partners to build up a portfolio of resilient, future-oriented and sustainable assets that will meet future tenant demands.”
Coen van Oostrom, founder and CEO, EDGE, said: “We’re thrilled to start this development program with Allianz Real Estate and BVK and have them join our journey to bring better buildings to the world. Together, we trust that we’ll make a larger sustainable impact on our industry and offer the highest quality of future-proof offices to our tenants.”