In October last year, REVITALIS Real Estate AG, a project developer from Hamburg, and the DERECO multi-family office from Cologne secured a number of adjacent plots on Dresden’s Wettiner Platz, a coveted central location. As in ongoing joint projects in Freiburg in the south of Germany, REVITALIS will be in charge of managing project operations, whereas DERECO is acting as an investor. Additional loans are provided by Deutsche Hypo and Hanse Merkur. Total project volume amounts to approx. € 63m.

Opposite the new home of Dresden’s Staatsoperette opera house, some 170 rental flats covering approx. 14,000 sqm in floor space plus approx. 1,200 sqm of retail space, some 160 parking spaces and a three-star INDIGO boutique hotel with 130 rooms are scheduled for development from summer. The entire project is set to be completed by mid-2018. Taylor Wessing, Berlin, and Drees & Sommer, Dusseldorf, provided legal consultancy.