German real estate investor Commerz Grundbezitz Gruppe (CGG) is to open an office in Amsterdam on May 1. The new office will service the Benelux region as part of CGG's international expansion strategy. CGG manages a total of EUR 13 bn in invrestments, and approximately EUR 1.6 bn of the EUR 10 bn invested in markets outside Germany is in the Benelux region (the Netherlands, Belgium and Luxembourg). 'Next to the UK and France, the Benelux is one of the central target markets in our European investment strategy,' CGG chairman Dr Frank Porschke said in a statement.
German real estate investor Commerz Grundbezitz Gruppe (CGG) is to open an office in Amsterdam on May 1. The new office will service the Benelux region as part of CGG's international expansion strategy. CGG manages a total of EUR 13 bn in invrestments, and approximately EUR 1.6 bn of the EUR 10 bn invested in markets outside Germany is in the Benelux region (the Netherlands, Belgium and Luxembourg). 'Next to the UK and France, the Benelux is one of the central target markets in our European investment strategy,' CGG chairman Dr Frank Porschke said in a statement.
CGG has 20 office property investments with an investment value of EUR 1.33 bn in the Netherlands, and three properties in Belgium with an investment value of EUR 227,870. Its Dutch portfolio covers 476,000 m2 and CGG has 65,000 m2 in Belgium. The company's Amsterdam office will be located at Atrium Tower A in the Zuidas business district in the south of the city.
Separately, CGG announced that it intends to invest more than EUR 260 mln in the Technopole Bouygues Telecom project development in Paris. It signed the deed for the property days ago. CGG manages a portfolio of more than 30 properties in the Paris conurbation. The portfolio is valued at around EUR 25 bn and comprises a total lettable area of 600,000 m2.
