Serial production – Vonovia invests in timber construction – economy

Germany’s largest real estate group Vonovia is acquiring a stake in the Austrian housing construction company Gropyus. Under the motto “Sustainable living for everyone”, the company, founded in 2019, specializes in the development and construction of fully digitized residential buildings from prefabricated modules. The company currently employs around 300 people in Austria, Germany and Liechtenstein. Vonovia is participating as the main investor (“lead investor”) in a financing round for the company with a total volume of around 100 million euros, the companies reported on Tuesday in Bochum and Vienna. No information was given about the exact Vonovia stake. As part of the investment, the Vonovia board member responsible for development business and new construction projects, Daniel Riedl, will be appointed to the supervisory board of Gropyus AG. Among other things, the money is to be used to expand a production site in Eppingen-Richen in Baden-Württemberg. According to the company, a nine-storey reference building in a hybrid wood construction in Weißenthurm near Koblenz with 54 apartments was built in spring 2022 after only eleven weeks of construction.

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