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Top related persons:
Kai Pfaffenbach - 2 Euroboden - 1 Tom Sims - 1 Mark Potter - 1 Chancellor Olaf Scholz - 1 Andreas Mattner - 1 Mattner - 1 Tim - 1
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Frankfurt Germany Germany's Europe's United States Sweden Munich Berlin
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REUTERS - 2 Centrum Group - 2 Thomson - 2 Euroboden GmbH - 1 Reuters Graphics Reuters - 1 Partner - 1 German Property Federation - 1 German Construction Industry Federation - 1

Search resuls for: "Centrum Group"


2 mentions found


☆ Munich developer insolvent in latest blow to German property sector
  + stars: | 2023-08-11 | by ( Tom Sims | Thomson Reuters | Covers German Finance With A Focus On Big Banks | ) www.reuters.com   time to read: +2 min
Germany's property sector is in stress, underscoring a major change of fortune for real estate in Europe's largest economy after an end to the era of cheap money. REUTERS/Kai Pfaffenbach/File PhotoFRANKFURT, Aug 11 (Reuters) - A Munich-based property developer said on Friday it had filed to open insolvency proceedings with a local court, in the latest sign of stress in Germany's real estate sector. Weakness in real estate has also emerged in the United States and Sweden. Germany is Europe's largest economy and the biggest real estate investment market on the continent. The property sector accounts for roughly a fifth of Germany's economic output and one in ten jobs.
Persons: Kai Pfaffenbach, Euroboden, Tom Sims, Mark Potter Organizations: REUTERS, Euroboden GmbH, Reuters Graphics Reuters, Partner, Centrum Group, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Munich, Berlin, United States, Sweden
☆ Exclusive: Struggling German property firms appeal to Berlin for multi-billion boost
  + stars: | 2023-07-20 | by ( Tom Sims John O'Donnell | Tom Sims | John O'Donnell | ) www.reuters.com   time to read: +6 min
"I am worried because we are in a deep real estate crisis. And the real estate crisis needs clear, structured and downright radical steps to fix it," Mattner said. For years, Germany's property market has been seen as a safe haven, becoming a major draw for foreign investors. Recent data shows the stress the property sector is facing as the European Central Bank hikes interest rates, with little respite in sight. The fall is "catastrophic," said Andreas Beulich, head of the Federal Association of Independent Real Estate and Housing Companies.
Persons: Kai Pfaffenbach, Chancellor Olaf Scholz, Andreas Mattner, Mattner, Tim, Oliver Mueller, Mueller, Scholz, Danyal, Andreas Beulich, Mathias Duesterdick, ”, Andreas Naujoks, Simone Zapke, Emma, Victoria Farr, Matthias Inverardi, Sharon Singleton Organizations: REUTERS, German Property Federation, German Construction Industry Federation, Reuters Graphics, European Central Bank, Federal Association of Independent, Housing Companies, Centrum Group, ECB, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Kai Pfaffenbach FRANKFURT, Baden, United States, Sweden
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