EQS-News

P&P Group celebrates topping-out ceremony in Germany for the Sunshine Lofts on the Lagarde Campus in the Bavarian city of Bamberg - Part of one of the most progressive urban neighbourhoods in Europe

Issuer: P&P Group / Key word(s): Real Estate/Expansion P&P Group celebrates topping-out ceremony in Germany for the Sunshine Lofts on the Lagarde Campus in the Bavarian city of Bamberg - Part of one of the most progressive urban neighbourhoods in Europe 26.04.2024 / 09:03 CET/CEST The issuer is solely responsible for the content of this announcement. Bamberg/Fürth, 26. April 2024 – German project developer P&P Group presented the current construction progress of over 300 condominiums at a topping-out ceremony in the new city district on the Lagarde Campus in Bavarian city of Bamberg yesterday. Residents will be moving into around a third of the Sunshine Lofts by the end of next year. The remaining units will then be completed in stages over the course of another year. At the event in Germany, Bamberg's Lord Mayor Andreas Starke and Stefan Loskarn, project manager at Stadtwerke Bamberg, explained how important the project is for the city. The P&P Group is one of the real estate partners building one of the most innovative urban districts in Europe for around 2,400 people on the 20 square kilometre former barracks site.

"People with different housing needs and preferences can live together in this neighbourhood. This will create a modern, lively and liveable residential area," emphasises Eva-Maria-Zurek, CEO of the P&P Group. To make this possible, the P&P Group mixes a wide range of flat sizes, from one-bedroom flats with 21 square metres to spacious family accommodation with four rooms and 97 square metres "Families and single people can live there, older and younger people. This coexistence is what makes a neighbourhood so appealing and attractive in the long term. All partners who are helping in these challenging times deserve special recognition for their excellent cooperation and flexibility," adds Eva-Maria Zurek.

The central location in the UNESCO World Heritage Site and university city is extremely significant and is undergoing a historical transformation. For almost 70 years, the Lagarde barracks were home to thousands of American soldiers and their families. German Reich barracks had stood on this site since the end of the 19th century. "The end of the time as a garrison town and the emergence of an urban neighbourhood is a great opportunity for Bamberg's urban development. On the Lagarde, a forward-looking quarter is being created that will serve as a model for the whole of Germany: a mix of housing, services, government offices, medical care and culture," emphasised Lord Mayor Andreas Starke: "A coherent overall concept and good cooperation with the property developers is of great importance because Bamberg, as a city that has grown historically, has a real space problem and is also a swarm city. We have already exceeded the 80,000 inhabitants mark. That is why many hopes are pinned on the new urban quarter on the site of the former Lagarde barracks. Good cooperation with the stakeholders involved, such as the P&P Group, is essential." The new central housing offer is also important for economic development: "In the region and the city of Bamberg itself, there are market-leading companies that want to offer their employees attractive offers on the housing market. It's worth taking a look at Lagarde here," says Starke.