ONE ROOF

Together with the Senator Group, the fifth largest pri-
vate provider of residences and care facilities in Ger-
many, HOCHTIEF Projektentwicklung also worked in
Dortmund on the Am Kaiserviertel nursing center project—a
new home for 88 people.
Urban district development segment
As part of a joint venture, HOCHTIEF Projektentwicklung
is working on a new urban district on the land of
the former freight yard in Düsseldorf-Derendorf. Since
October 2009, this district has been marketed under
the name le flair. The site for the project was purchased
from the HOCHTIEF subsidiary aurelis. High-quality
residential real estate is being developed on more than
100,000 square meters of gross floor area within generous
parklands. Customized living spaces are to be
complemented by district-specific services and support
for the future residents.
aurelis Real Estate*
HOCHTIEF Projektentwicklung has held a 50-percent
stake in aurelis Real Estate since December 2007. aurelis
has some 21 million square meters of real estate
close to city centers throughout Germany. The company
develops part of the portfolio together with local
authorities until development rights have been secured
and the land is ready for construction; other land is
leased for commercial purposes. The company promotes
the trend of living near city centers and develops
locations in a sustainable way.
In the fiscal year, HOCHTIEF Projektentwicklung and its
partner Redwood Grove International successfully completed
the refinancing of the acquisition financing for
aurelis. As planned, aurelis has thus refinanced the loan
taken out by the partners when the company was acquired.
At the end of 2009, the new loan amounted to
around EUR 900 million. The financing was agreed with
Deutsche Pfandbriefbank AG without the two shareholders
having to give guarantees. This illustrates aurelis’
stable economic situation and underscores the high
quality of the portfolio.
❘ Information for our Shareholders ❘ ❘ Management Report ❘ ❘ Financial Statements and Notes ❘
Profitable real estate sales
aurelis was successful in 2009 despite the economic
crisis. The company benefited from its intensive preliminary
planning work and sold properties to the tune of
some EUR 230 million overall.
For example, 243,000 square meters in Berlin’s Pankow
district were sold. Successful sales also included the
“Bergisches Plateau” in Wuppertal, where aurelis sold
some 17,000 square meters for the first construction
phase to Deutsche Reihenhaus AG, which is to build 77
town houses there. In Gelsenkirchen, aurelis sold a residential
site of approximately 4,900 square meters to
VISTA Reihenhaus GmbH. In the Am Hirschgarten quarter
of Munich, aurelis sold lots with a total area of approximately
25,500 square meters.
In Düsseldorf, a section of around 60,000 square meters
of the Le Quartier Central development was sold to
sister company HOCHTIEF Projektentwicklung for the
future urban district called le flair. In February 2009, aurelis
and the City of Düsseldorf signed the urban development
agreement securing the financing and development
of infrastructure for this project.
The crucial groundwork has been laid for the construc-
tion of the Europaviertel in Frankfurt am Main. In De-
cember 2009, the city and aurelis signed two agree-
ments: The development agreement ensures the
designing and building of roads, paths and squares as
well as the Europagarten greens at the heart of the
district. The urban development agreement was concluded
to secure and finance the projected elementary
school and three child day care centers. Now the development
plan has been made public, there is also
planning certainty. As a result, all of the 46,000 square
meters of the urban district were sold.
With the conclusion of what is now a second urban
planning agreement between the City of Nuremberg
and aurelis, planning began there for an area on the
northwest edge of the city center. The land is to be
used in future for residential and commercial premises.
The commercial premises provided for in the construction
planning will remain in aurelis’ portfolio in the long-
*Further information is
available on the Internet at
www.aurelis-real-estate.com.
Annual Report 2009 103