ONE ROOF

HOCHTIEF Real Estate Division
• Synergies harnessed within the division
• Demand for places to live near city centers
• Increase in rental performance at aurelis
• Substantial proceeds from sales at HOCHTIEF
Projektentwicklung* and aurelis
The HOCHTIEF Real Estate division comprises the
companies HOCHTIEF Projektentwicklung, HOCHTIEF
Property Management and aurelis Real Estate. The
division’s capabilities are focused on the entire real
estate life cycle, from developing and constructing to
marketing and managing. This integrated offering of
products and services already creates synergies
within the division.
In light of the market situation**, we continued to pursue
our restrictive policy for the acquisition of new projects.
However, despite the economic crisis, the companies
benefited above all from the typical seasonal end-of-year
business. In December 2009 alone, HOCHTIEF Projektentwicklung
and aurelis generated proceeds of EUR
600 million overall from sales of real estate, projects
and properties in large German cities, including, for
example, maxCologne, the former Lufthansa high-rise
in Cologne and the Unilever building in Hamburg.
HOCHTIEF Projektentwicklung
HOCHTIEF Projektentwicklung was able to further expand
its leading position in the market for premium real
estate in 2009—as affirmed when the company was
named “Best Developer in Germany” in the 2009 Real
Estate poll by Euromoney magazine. In Germany as well
as in Central and Eastern Europe, construction began
on ten new projects worth EUR 225 million in total. The
residential segment promises a growing market. Expansion
of the care segment also remains a priority, with
2009 seeing the start of construction on what is already
the seventh cooperation project with BeneVit, a provider
of services for the elderly.
Sustainability plays an increasingly important role in
the real estate market. Green buildings mean demandbased
design as well as sensible and efficient use of
resources, especially energy. Sustainable concepts
bring particular rewards: Green buildings offer measurable
economic benefits and can also make a substan-
❘ Information for our Shareholders ❘ ❘ Management Report ❘ ❘ Financial Statements and Notes ❘
tial contribution to climate protection. Consequently,
tenants’ and investors’ interest in green buildings is
growing. HOCHTIEF Projektentwicklung therefore increasingly
focuses on sustainable projects—also internationally.
Project highlights
Offices segment
During 2009, HOCHTIEF Projektentwicklung sold a
new office building at Düsseldorf Airport City to the
Hamburg issuing house Hesse Newman Capital. Turnkey
handover of the rentable space of approximately
10,700 square meters is fixed for fall 2010. Siemens AG
has a long-term lease on the entire office building, which
is exceptionally energy-efficient. Thanks to good heat
insulation, high-quality construction materials and a
smart heating, lighting and ventilation concept, the building
saves a good quarter more in primary energy than
prescribed by the German Energy Saving Ordinance
(EnEV). The new building therefore meets the requirements
for participation in the European Union’s Green-
Building Programme.
In Essen, HOCHTIEF Projektentwicklung sold the Rütten-
scheider Tor property to Sal. Oppenheim. The bank
purchased the office building, which comprises a total
of almost 16,700 square meters of gross floor area, for
a property fund. We also designed the Rüttenscheider
Tor for sustainability: In the low-temperature system,
the rooms are air-conditioned using heating and cooling
ducts in the ceilings. Primary energy consumption
is well below the levels required by EnEV.
At the end of 2009, the similarly environmentally engi-
neered Unilever office building in Hamburg’s HafenCity
urban development zone was sold to RREEF Investment
GmbH. HOCHTIEF Projektentwicklung completed the
property in June 2009. It is fully leased to Unilever and
has a total floor space of around 25,000 square meters.
In 2009, the building was honored with the World Architecture
Festival Award of “World’s Best Office Building.”
*Further information is available
on the Internet at www.hochtiefprojectdevelopment.com.
**For further information, please
see pages 36–41.
Annual Report 2009 101