DGAP-News: Vonovia SE: Vonovia Publishes Business Philosophy
DGAP-News: Vonovia SE / Key word(s): Real Estate
Vonovia Publishes Business Philosophy
- We build affordable homes.
- We design apartments to be senior friendly.
- We modernize for climate protection.
- We promote community.
Bochum, Germany, May 16, 2019. The discussion about affordable homes and the role of large residential real estate companies has prompted Vonovia to reformulate its own business philosophy. This Code clarifies the basic conditions that Vonovia's tenants can rely on. At the same time, this business philosophy describes Vonovia's answers to pressing sociopolitical questions.
"There are no simple answers. But we want to be part of the solution," says Rolf Buch, CEO of Vonovia SE. "Our activities are never focused exclusively on financial aspects, but also take social factors into account. With our business philosophy, we now have a description of how we understand this perspective."
Vonovia offers affordable homes to around one million people in Germany. More than half of its tenants have small to medium incomes; they are craftsmen, skilled workers, employees, civil servants and self-employed individuals. The average rent is EUR 6.56 per square meter. This means Vonovia plays a central role in society. "This is where our business philosophy comes into play - as a binding guideline for our actions, which is also how we like to be measured," says Rolf Buch.
We Build Affordable Homes
Vonovia completed around 1,100 new apartments in fiscal year 2018. It has already built 200 new apartments just in the first quarter of 2019, and in the long term the number could reach 36,000. Its business philosophy: "We do not speculate with land for construction or with building permits but build new homes as quickly as possible after obtaining a building permit. Wherever possible, we take advantage of public subsidy programs to build affordable housing. Our experience in social housing construction and our knowledge of cost-effective construction are valuable for this."
We Design Apartments to be Senior Friendly
"Our aim is to ensure that senior citizens grow old with dignity in the neighborhoods they have made their home," says Rolf Buch. "This includes older tenants not having to worry about their livelihoods because of rising rents."
We Modernize for Climate Protection
With its business philosophy, Vonovia is committing to limiting the rent adjustment after modernization to a maximum of two euros per square meter. "That can still be too much for some tenants. Even for those who cannot afford this increase, we will find a solution together. We want our tenants to stay with us. That's why we don't terminate lease agreements because of own needs," says Rolf Buch.
We Promote Community
"Anyone looking for an apartment decides based on location, size and rent," says Rolf Buch. "But whoever stays in an apartment also chooses the surroundings and the neighborhood." Vonovia is committed to promoting a sense of community in its neighborhoods. Its business philosophy: "Community is exactly what ensures a safe and attractive living environment."
Vonovia's business philosophy is available online at www.vonovia.de.
Our activities focus on our customers and their needs. On site, caretakers and our own craftsmen take care of our tenants' concerns. Being close to our customers ensures fast and reliable service. In addition, Vonovia invests generously in the maintenance of the buildings and develops housing-related services for a better quality of living. For answers to any questions in connection with lease agreements and ancillary expense bills, the central customer service center can be contacted via a regional service hotline as well as by email, fax, app or by post.
Vonovia has a workforce of approximately 10,000 employees and its CEO is Rolf Buch.
Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange ISIN: DE000A1ML7J1 WKN: A1ML7J Common code: 094567408 Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879 Business address of Vonovia SE: Universitätsstrasse 133, 44803 Bochum, Germany
Additional features:Document: n.eqs.com/c/fncls.sspDocument title: Vonovia Publishes Business Philosophy
16.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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