Wohnungsbaugesellschaft Berlin-Mitte

What Wohnungsbaugesellschaft Berlin-Mitte does

WBM Wohnungsbaugesellschaft Berlin-Mitte mbH is a wholly state-owned municipal housing company (landeseigenes Wohnungsunternehmen) of the State of Berlin and one of seven such entities operating under Berlin's affordable housing strategy. The company manages a portfolio of approximately 35,000 residential apartments (33,887 at year-end 2024) serving roughly 85,000 residents from over 100 nationalities, plus approximately 314,000 m² of commercial space, concentrated primarily within Berlin's S-Bahn ring across the Mitte, Friedrichshain-Kreuzberg, and Spandau districts. As a policy-mandated social landlord, WBM charges an average net cold rent of €6.83/m² — approximately 17% below the Berlin market average of €8.27/m² — and operates at a 1.7% residential vacancy rate (below the 2.5% national average).

The company's core service offering is recurring monthly rental of residential, commercial, senior, student, furnished, and cluster-housing units, distributed directly to tenants through the wbm.de portal and the Aareon-based 'Meine WBM' CRM platform, supported by a 24-hour emergency hotline and tenant magazine 'MITTENDRIN'. The revenue model is essentially subscription-recurring rental income, split across residential (~€194M implied from unit-level economics) and commercial (~€57M implied) streams. Financial performance for FY2024 includes adjusted EBITDA of €104.4 million, operating cash flow of €109 million, an annual surplus of €23.7 million, and a portfolio market value of €5.7 billion (NAV approximately €4.6 billion). The company is rated A with stable outlook by S&P Global Ratings.

WBM's technology stack is anchored by the proprietary KI-Chatbot 'Mia Mittendrin' (handling ~11,000 conversations with 86% autonomous resolution in 2024), smart building IoT sensors and gateways deployed across existing properties, and CAFM (Computer-Aided Facility Management) software for centralized building operations. Go-to-market is exclusively direct-to-tenant with no third-party intermediation. Strategic partnerships include Kondor Wessels Wohnen Berlin for joint development of the Metropolitan Park in Spandau (428 apartments), HypoVereinsbank for Social Impact Financing, and Tele Columbus for portfolio-wide fiber optic rollout. WBM is governed by Managing Directors Lars Dormeyer (confirmed through 2031) and Steffen Helbig, under the supervision of a Supervisory Board chaired by Peter Stubbe.

Name

Wohnungsbaugesellschaft Berlin-Mitte

Legal name

WBM Wohnungsbaugesellschaft Berlin-Mitte mbH

Website

https://wbm.de

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Short description

WBM Wohnungsbaugesellschaft Berlin-Mitte mbH is a state-owned Berlin municipal housing company managing ~35,000 apartments and ~314,000 m² of commercial space, serving 85,000 residents at below-market rents under Berlin's affordable-housing mandate.

Ownership category

akta.pro rank

Product category

Affordable Housing & Property Management

NAICS

Rental and Leasing Services (532), New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Operators Of Apartment Buildings (6513), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Build-to-Rent (BTR) Community Management (BPAJAFAC)

akta.pro secondary industry

Residential General Contracting (New Build) (IMAFAAAB)

Keywords

• Affordable housing
• Residential property management
• Subsidized housing
• Municipal housing services
• Commercial real estate leasing

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Residential Rental Income: Monthly rental income from approximately 35,000 residential apartments. Average net cold rent for housing was €6.83/m² in 2024. Rents are kept affordable as a state-owned housing company.
2. Commercial Rental Income: Rental income from approximately 314,000 m² of commercial spaces. Average commercial rent was €15.18/m² in 2024, a 4.9% increase from prior year.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

WBM is a state-owned housing company of the State of Berlin that manages approximately 35,000 rental apartments serving about 85,000 residents from over 100 nations, as well as roughly 314,000 m² of commercial space. The company rents residential and commercial properties at regulated, below-market rents primarily in the Berlin districts of Mitte, Friedrichshain-Kreuzberg, and Spandau, while executing a €3.3 billion construction and modernization investment plan through 2035 to add around 10,000 new apartments.

Product overview

WBM Wohnungsbaugesellschaft Berlin-Mitte mbH operates as a state-owned housing company managing approximately 35,000 rental apartments serving about 85,000 residents across Berlin. The company's product portfolio centers on housing services (apartments, commercial spaces, senior and student housing), a tenant portal (Meine WBM), digital tools including an AI chatbot (Mia Mittendrin), and smart building technology with sensors. These offerings are complemented by tenant services such as repair management, debt counseling, and a digital magazine (MITTENDRIN), all accessible through an integrated digital ecosystem for property search, tenant management, and communication.

Differentiator

Problem solved

Functional benefit

Brands

• MITTENDRIN: Tenant magazine of WBM - Das Magazin der WBM
• Meine WBM
• Mia Mittendrin

Products and services

• Residential Apartment Rentals Rental of approximately 35,000 apartments across Berlin's Mitte, Friedrichshain-Kreuzberg, and Spandau districts to individuals and households seeking affordable housing, with average net cold rents significantly below Berlin market levels.

Quantifiable outcome

• Average rent €6.83/m² is 17% below Berlin market average of €8.27/m², demonstrating rent-dampening effect
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Kondor Wessels Wohnen Berlin GmbHcoreStrategic or Co-development PartnerJoint development partnership for Metropolitan Park in Staaken, Spandau. Kondor Wessels develops and constructs three construction phases with 428 apartments for WBM. First and third phases include 278 apartments for WBM. Third phase (2027) includes 138 apartments with 60% subsidized housing.
• BBU Verband Berlin-Brandenburgischer Wohnungsunternehmen e.V.coreStrategic or Co-development PartnerIndustry association of Berlin-Brandenburg housing companies. WBM participates in joint initiatives including the annual 'Neubautour' (new construction tour) showcasing projects to politicians, and collaborative supplier portal development with other state-owned housing companies.
• Other Berlin State-Owned Housing CompaniescoreStrategic or Co-development PartnerCollaboration with Berlinovo, degewo, GESOBAU, Gewobag, STADT UND LAND, HOWOGE, and ProPotsdam on joint supplier portal, shared standards, and policy advocacy. Together represent major portion of Berlin's affordable housing stock.

Scale indicators13 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Gewobag: Berlin state-owned landlord managing tens of thousands of affordable units. Same ownership structure, same regulatory environment, and joint participation in the supplier portal and BBU initiatives.
• degewo: One of Berlin's six other state-owned housing companies (landeseigene Wohnungsbaugesellschaften). Directly comparable mandate, ownership, rent policies, and operating model — same Berlin Roadmap 2.0 framework and BBU membership.
• GESOBAU: Berlin state-owned housing company with a comparable ~50,000-unit portfolio. Operates under the same social mandate, participates in the joint BBU Neubautour, and uses similar public-sector financing — making it WBM's closest scale peer.
• SAGA Siedlungs-Aktiengesellschaft Hamburg: Municipal housing company of the Free and Hanseatic City of Hamburg, managing ~140,000 units. Closest functional peer in terms of mandate (municipal, social, climate-neutrality targets) outside of Berlin.
• HOWOGE: Land Berlin-owned housing company with a similar affordable-rental mandate and large new-construction pipeline. Competes for the same development sites, subsidies, and tenants within Berlin.
• Berlinovo: Land Berlin-owned housing company with a comparable affordable-rental focus and similar regulatory exposure. Joint member of the BBU and co-developer of the shared supplier portal.
• STADT UND LAND: Another of the seven state-owned Berlin housing companies, focused on affordable rentals in southern Berlin. Highly comparable on portfolio size, social mandate, and joint Roadmap 2.0 obligations.

Regional players

• ProPotsdam: Municipal housing company of the City of Potsdam, the state capital adjacent to Berlin. Operates under the same Land Brandenburg regulatory environment and shares the BBU association, providing a regional comparison for the WBM model.

Broad incumbents

• Deutsche Wohnen: Major Berlin-focused residential landlord (now part of Vonovia). Operates in the same districts under the same Mietpreisbremse, providing a useful private-market comparison for rent levels and operating efficiency versus WBM.
• Vonovia: Germany's largest residential landlord (~500,000+ units), including a major Berlin portfolio via the former Deutsche Wohnen. Listed, profit-maximizing counterpoint to WBM's social-mandate model; useful benchmark for capex, operating cost, and revaluation dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/wbm-wohnungsbaugesellschaft-berlin-mitte-mbh
• Instagraminstagram.com/wbm.berlin
• Xx.com/WBM_BerlinMitte
• Facebookfacebook.com/WBM.de

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wohnungsbaugesellschaft Berlin-Mitte