DGAP-News: GIEAG Immobilien AG

Press release/27.11.2017

GIEAG IMMOBILIEN AG makes progress with its planned office complex "Gerlingen Work"

Munich/Gerlingen, 27 November 2017 GIEAG Immobilien AG (GIEAG) has made key progress in its new construction project "Gerlingen Work", with the result that construction can start on schedule in the spring of 2018. A well-known anchor tenant has also been acquired for this office complex in Gerlingen. This tenant will rent around 30 percent of the total of 30,000 m2 in the complex.

GIEAG will build a state-of-the-art, five storey office complex on the 12,500 m2 site of the former site of the pharmaceuticals manufacturer "Salutas". The complex will also include more than 480 underground parking spaces. GIEAG plans to construct the property in two stages. The first section of construction is set to be completed in the third quarter of 2017 and the second to follow in 2020.

"We place high demands on our projects - both in terms of their location and also their architecture and technical standards. For example, our new construction project "Gerlingen Work" includes highlights in both of these areas and we are very pleased that we have already acquired Bosch as our first long-term tenant for around 30 percent of the office space. We are certain that we will not only create attractive working conditions for future tenants, but that we will also provide a positive impetus for the industrial zone and also for Gerlingen," explained Thomas Männel, a member of GIEAG's Managing Board.

About GIEAG Immobilien AG (GIEAG)

The project development company GIEAG Immobilien AG or GIEAG for short (www.gieag.de), founded in 1999, supports its customers from the idea through the financing and realisation to the sale of the finished property. Its focus is on the development of valuable office buildings, logistics centres and residential properties. In addition, the group of companies acts as an investor in residential properties with a particularly high development potential, located primarily in southern Germany.

Contact

GIEAG Immobilien AG
Investor Relations, Philipp Pferschy
Oettingenstraße 35
80538 Munich
ir@gieag.de
Telephone: +49 89 290516-0

edicto GmbH
Axel Mühlhaus, Peggy Kropmanns
amuehlhaus@edicto.de
Tel.: +49 69 905505-52