Victor Stoltenburg: "I see good opportunities for older existing buildings"
The managing director of Deka Immobilien explains in an interview why the modernisation of office properties can be worthwhile and why climate protection in the industry should be given more attention.
Victor Stoltenburg, Managing Director of Deka Immobilien, oversees property purchases and sales in 27 countries. Prior to his appointment in 2019, he led the real estate transactions department for Germany for almost 11 years. The current trend in the office market, influenced by the Covid-19 pandemic, shows investors focusing on central locations, with banks becoming more cautious in financing, resulting in a decline in new construction projects.
This has led to decreasing vacancy rates and increasing rents, creating opportunities for repositioning older buildings. The industry faces significant challenges in reducing fossil energy use and will require substantial investment, with energy-efficient buildings expected to increase in value.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
