EQS Group-News: Mobimo Holding AG / Key word(s): Miscellaneous
Project with building permission sold to a Swiss Real Estate Fund
Lucerne, 8 June 2021 - Mobimo has sold the "Cosmos" project, which has received building permission and is located in the Zurich metropolitan area, to a Swiss Real Estate Fund. The transaction was made possible thanks to active portfolio management and the company's in-house development expertise.
The town of Dübendorf, especially the Hochbord area, has become a popular place to live and work. Mobimo has owned a plot of land with a 1960s-built commercial property in Zürichstrasse since 2000. The property has development potential, which Mobimo is now exploiting with the "Cosmos" project: an ensemble of four new buildings is being created with around 170 apartments for single and family households, along with multi-purpose office, commercial and retail space. Cosmos is within walking distance of Stettbach railway station, Samsung Hall and the local recreation area towards Zürichberg. High standards were set for sustainability, especially energy efficiency, throughout the development process: the buildings will comply with the Swiss Sustainable Building Standard (SNBS Gold) and the greenproperty quality seal and have a number of sustainable features, including a photovoltaic system and a geothermal probe.
Cosmos was created as part of the activities of the Development for Third Parties business unit, which offers area, site and real estate development. As planned, Mobimo recently handed over the project, which has building permission, to the buyer, a Real Estate Fund managed by Credit Suisse Asset Management. Daniel Ducrey, CEO of Mobimo: "We're delighted with this successful transaction. We've developed a compelling new construction project from an investment property with potential. Cosmos is therefore a good example of the interplay between active portfolio management and internal development expertise."
Construction work in Zürichstrasse in Dübendorf will commence in June 2021. It is scheduled to be completed by late summer 2023.
With a broadly diversified real estate portfolio with a total value of nearly CHF 3.4 billion, Mobimo Holding AG is one of the leading real estate companies in Switzerland. Its portfolio comprises residential and commercial properties as well as development properties for its own investment portfolio and for third parties, which are located in prime locations in German-speaking and French-speaking Switzerland. Its buildings feature balanced use and diligent management. Mobimo's development projects strengthen its income base and the value of its portfolio. The company also creates investment opportunities for third parties as part of its development services. Mobimo has around 170 employees. www.mobimo.ch