Vonovia Won't Begin New Construction Projects in 2023
January 31 2023 - 07:24AM
Dow Jones News
By Christian Moess Laursen
Vonovia SE said Tuesday that it won't start new construction
projects in 2023 due to high inflation and rising interest
rates.
The German real-estate company said it intends to complete
projects that have already started.
Vonovia's Chief Development Officer Daniel Riedl said Tuesday in
an interview with German newspaper Westdeutschen Allgemeinen
Zeitung that the company would aim to obtain building permits for
projects to be ready to start when general conditions are
right.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
January 31, 2023 07:09 ET (12:09 GMT)
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