The recent statement by Vonovia that it will not launch any more new-building projects this year reinforces Hazelview Investments‘ decision to continue to see the German housing giant as one of its preferred investment opportunities over the next twelve months. “High construction costs, labour shortages and long approval periods make new buildings a major challenge and lead to a shortage of supply. Vonovia will benefit from this in the current environment, not least because of its well-rated portfolio,” says Claudia Reich Floyd, portfolio manager and Head of the German office of Hazelview. She is responding to Vonovia CEO Daniel Riedl’s recent statement that his company does not intend to embark on any new construction projects in 2023 for cost reasons.
Hazelview Investments: Vonovia still benefits from high demand, despite stop for new building projects in 2023
Tags: REITs
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