The shell of the first phase of our PANDION VERDE residential project in Munich-Neuperlach has been completed. To mark the occasion, we held a topping-out ceremony on 30 June on the site of the former Piederstorf gravel works and traditionally raised the topping-out wreath in the presence of the companies involved in the construction and all flat buyers.

Following the completion and audit of the consolidated financial statements for 2021, it has been officially confirmed that 2021 was by far the most successful financial year in the history of PANDION. Consolidated earnings marked a high point at EUR 161 million (earnings before taxes: EUR 224 million), and EBITDA also rose from around EUR 93 million in 2020 to just under EUR 258 million. In the residential segment, PANDION achieved a sales volume of more than EUR 300 million for the first time and thus posted a significant increase compared to the previous year. Overall, the sales volume of our company in 2021 amounted to over EUR 1 billion.

Over the next few years, a new urban quarter will be created in the west of Cologne on the site of the former Max Becker site and the adjacent RheinEnergie site. A lively mixed-use development consisting of living, working, culture, education, energy and local amenities as well as extensive green spaces is planned for this area. In cooperation with the city of Cologne and RheinEnergie AG, we launched a two-stage architectural and open space planning competition for the entire site, which covers a total area of 17.3 hectares. A total of 15 international urban planning and architectural firms in collaboration with selected landscape architects were invited to submit their proposals for the first phase of the competition. On June 15, 2022, a 20-member jury consisting of external expert judges, representatives of the administration and politics, and colleagues from us and Rheinenergie selected six concepts for the second phase. On June 23, 2022, we invited the public to view the urban planning designs and enter into dialog. A large number of interested citizens came together at the Rufffactory in Cologne-Ehrenfeld:

On Friday, May 6, 2022, we celebrated the topping-out ceremony for our PANDION NEUN FREUNDE construction project in Cologne-Ehrenfeld. In bright sunshine, around 200 invited guests appeared in the inner courtyard of the project. Among them were district mayor Volker Spelthann, representatives of the architectural firm caspar. as well as companies involved in the construction, purchasers and employees of PANDION. After short speeches, the topping-out wreath was ceremoniously lifted and the buffet was opened.