GIEAG Immobilien

What GIEAG Immobilien does

GIEAG Immobilien AG is a Munich-based, family-controlled real estate stock corporation (AG) founded in 1999 that operates as both a project developer and portfolio holder across Germany, with primary focus on southern Germany. The company combines three asset classes — office, residential, and light industrial/logistics — with two service lines: property development and portfolio/asset management. Individual projects range in size up to 145,000 m² and EUR 15-150 million in investment volume, including flagship assets such as GERLINGEN WORK (~26,000 m² multi-tenant office, ~95% occupied), MAYOFFICE Stuttgart (LEED Gold certified), MAYLIVING Stuttgart (67 residential units), oha works Oberhaching (sustainable office targeting LEED Platinum), and the pipeline-stage The Nest Ottobrunn (~190,000 m² campus, 2025-2035).

GIEAG generates revenue through three streams: one-time property sales to institutional investors (KINGSTONE, WERTGRUND, AEW, Exeter Property Group, Schwäbische Grundbesitz), recurring rental income from portfolio properties leased to corporate and government tenants (BImA, State of Baden-Württemberg, SAP, Bosch, Amazon, Isar Aerospace, BNP Paribas Cardif), and asset management services. The company differentiates on ESG-aligned construction methods, including timber-hybrid builds, geothermal heating/cooling, and on-site photovoltaic generation. GIEAG shares were listed on the Munich Stock Exchange from 2014 but the company is in the process of full delisting in 2025 to reduce administrative burden under continued family control (92.7% founding-family ownership, 6.9% freefloat). Following Philipp Pferschy's July 2024 departure, Benjamin Johansson serves as the sole Management Board member.

Name

GIEAG Immobilien

Legal name

GIEAG Immobilien AG

Website

https://gieag.de

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Munich-based, family-controlled real estate project developer and portfolio holder specializing in office, residential, and light industrial properties across Germany, with sustainable construction focus and individual project investments ranging from EUR 15 to 150 million.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Industrial Building Construction (23621)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate (6500)

akta.pro primary industry

Asset & Lifecycle Management (CapEx Planning, Reliability) (BPABAAAI)

Keywords

• Commercial real estate development
• Residential property development
• Real estate portfolio management
• Sustainable construction projects
• Urban quarter development

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Property Development and Sales: GIEAG develops residential, commercial, office, and light industrial properties and sells them to investors, institutional buyers, and end-users. Properties include apartment complexes, office buildings, retail centers, and logistics facilities.
2. Rental Income from Portfolio Properties: As a portfolio holder, GIEAG generates recurring rental income from properties held in its portfolio before sale. This includes office, residential, and commercial tenants.
3. Asset Management Services: Active asset management of portfolio properties to ensure stable value development and occupancy rates.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

GIEAG Immobilien AG is a family-run Munich real estate company that develops and holds a portfolio of office, residential, and light industrial/logistics properties across Germany. It combines project development of large-scale mixed-use quarters and individual buildings with active portfolio and asset management, targeting institutional investors, corporate tenants, and municipalities with investment volumes typically ranging from EUR 15 to 150 million per project.

Product overview

GIEAG Immobilien AG is a family-run Munich real estate stock corporation combining three asset classes (office, residential, logistics) with two service areas (development and portfolio management). The company operates as a project developer and portfolio holder with a focus on southern Germany. Core products include office developments (MAYOFFICE Stuttgart, GERLINGEN WORK, oha works Oberhaching), residential properties (MAYLIVING Stuttgart, Heinzelmann-Areal Reutlingen), large-scale quarter developments (The Nest Ottobrunn), and retail centers (Fachmarktzentrum Gera/Delitzsch, Einkaufszentrum Waldenburg). Services encompass property development, portfolio management, municipal urban development, and rental services.

Differentiator

Problem solved

Functional benefit

Products and services

• MAYOFFICE Stuttgart Modern LEED Gold certified office building complex in Stuttgart near Höhenpark Killesberg with ~10,000 m² gross floor area and ~7,400 m² usable space across 6 units; features underground parking, EV charging, greened courtyard, fiber optic connection.
• GERLINGEN WORK Multi-tenant office property in Gerlingen near Stuttgart with ~26,000 m² rental space across 58 units (300-450 m² each); features flexible floor plans with ceiling heating/cooling systems, hollow floors for digital infrastructure; ~95% let to tenants including SAP, Design Offices, Bosch, BNP Paribas Cardif, Aramark, Sport Driving, frechverlag, and Stoye-Benk Notarial Office.
• The Nest Ottobrunn Large-scale office and technology campus in Ottobrunn near Munich with ~190,000 m² gross floor area, development timeline 2025-2035; combines office, light industrial, research, development, administration, service, production, laboratory, and storage spaces with masterplan by HENN Architects.
• Heinzelmann-Areal Reutlingen Car-free mixed-use quarter redevelopment of former textile factory with ~16,200 m² total area including ~86 residential units (40-100 m²), ~16 commercial units (45-480 m²), 83 parking spaces, and 148 bicycle spaces; features preserved heritage buildings with timber additions, rooftop gardens, and solar panels; planned completion 2026.
• oha works Oberhaching Sustainable office building in Oberhaching near Munich with ~15,000 m² gross floor area, built partially in timber hybrid construction; features geothermal heating, photovoltaic system for self-generated energy; targeting LEED Platinum and WiredScore Gold certifications; planned completion 2025.
• MAYLIVING Stuttgart Residential property near Höhenpark Killesberg in Stuttgart with ~7,000 m² living space across 67 owner-occupied units (2-4 rooms), completed 2021; offers balconies and gardens facing south with views of vineyards.
• Property Development Services Real estate project development covering office, residential, light industrial, research/development, and quarter developments; focus on southern Germany with 25+ years of experience, developing properties up to 145,000 m² with investment volumes of EUR 15-150 million; offered to institutional investors, corporations, and municipalities.
• Portfolio Management Services Active asset management and portfolio holding services for income-producing properties across Germany, generating rental cash flows from office, residential, and logistics assets; offered to investors and property owners.
• Municipal Urban Development Site development and building rights acquisition services for cities and municipalities, including inner-city quarter developments, brownfield revitalization, and sustainable urban planning with ESG focus; offered to German cities and municipalities.
• Rental Services Office, light industrial, and residential rental services for tenants seeking flexible spaces in modern properties developed by GIEAG.

Quantifiable outcome

• EUR 138.8 million peak consolidated revenue (2021)
• +4 more outcomes

Named customers19 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• P2G GmbHcoreStrategic or Co-development Partner · 1 May 2023Newly founded shared service center established by GIEAG and sister company ATMIRA, handling accounting, HR, financing consulting, fleet and IT management for both companies.
• GSK StockmannminorImplementation/ SI/ Consulting PartnerLaw firm acting as legal counsel for GIEAG in various property transactions, including Emmering sale and Oberhaching acquisition.
• White Arkitekter ABcoreStrategic or Co-development PartnerSwedish architecture firm collaborating with GIEAG on the Heinzelmann-Areal Reutlingen project, designing the sustainable mixed-use quarter development.
• HENN-ArchitektencoreStrategic or Co-development PartnerArchitecture firm whose masterplan won the multi-stage competition for The Nest Ottobrunn project, creating the urban development framework.
• Brückner ArchitektenminorStrategic or Co-development PartnerArchitecture firm that planned the oha works office building project in Oberhaching.
• Engel & Völkers CommercialminorChannel Partner/ Reseller/ DistributorCommercial real estate broker that brokered leasing transaction at GERLINGEN WORK for Sport Driving GmbH.
• Immoraum GmbHminorChannel Partner/ Reseller/ DistributorLead broker partner for GERLINGEN WORK leasing transactions, coordinating commercial real estate activities.
• BAYCON GroupminorOthersOberhaching-based developer that sold the Kolpingring property to GIEAG. Previously developed the project with a family estate and project partner until ready for transfer.
• BNP Paribas Real Estate GmbHminorChannel Partner/ Reseller/ DistributorSupported marketing of Heidenheim residential property 'South Duo' sale to Schwäbische Grundbesitz GmbH.
• ATMIRA Zentrale Dienste GmbHcoreStrategic or Co-development PartnerSister company specializing in commercial and logistics properties. Partnered with GIEAG to establish P2G GmbH shared services center.
• Design OfficesminorOthersFlexible workspace provider leasing 2,000 m² at GERLINGEN WORK. One of Germany's largest coworking and office space providers with 40+ locations.
• Bundesanstalt für Immobilienaufgaben (BImA)coreOthersGerman Federal Agency for Real Estate Tasks - major tenant at KWARTIER Karlsruhe development and other GIEAG properties.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Regional players

• S IMMO AG: Real estate investment company focused on Austria, Germany, and CEE with residential and office portfolio. Comparable to GIEAG's office and residential portfolio strategy in German-speaking markets, though with German/Central European focus rather than southern Germany specificity.

Broad incumbents

• Deutsche Wohnen SE: Major German residential real estate company (DAX-listed until 2022) with development and portfolio management activities in German metropolitan areas. Comparable to GIEAG's residential segment at incumbent scale.
• Vonovia SE: Europe's largest residential real estate company, DAX-listed, with portfolio development and large-scale urban development projects across Germany. Broad incumbent in residential with thematic overlap on GIEAG's residential and municipal development.
• LEG Immobilien AG: One of Germany's largest residential real estate companies (DAX-listed), operating a portfolio of >165,000 apartments primarily in North Rhine-Westphalia. Compares to GIEAG's residential segment at a much larger scale and broader geographic footprint.

Direct peers

• Hamborner REIT AG: German REIT focused on high-street retail and modern office properties, generating stable rental income from a portfolio of German assets. Comparable to GIEAG's portfolio management leg and active asset management approach.
• Aroundtown SA: European commercial real estate company with significant German office, hotel, and logistics exposure. Comparable to GIEAG's three-asset (office, residential, light industrial) German commercial real estate focus.
• Becken Gruppe: German privately held real estate developer focused on office, residential, and mixed-use projects in German metropolitan areas. Comparable mid-cap German developer profile and three-asset mix to GIEAG.
• TAG Immobilien AG: German residential real estate company focused on northern German cities with active portfolio management and value-add strategies. Comparable to GIEAG's residential development and rental activities.
• Instone Real Estate Group: German project developer of residential and mixed-use properties listed in Frankfurt, with comparable mid-cap scale and a focus on German metropolitan markets. Closest publicly listed analog to GIEAG's residential and neighborhood development activities.
• alstria office REIT: German publicly listed office REIT focused on German metropolitan office assets, tenant management, and selective portfolio rotation. Directly comparable to GIEAG's office portfolio (MAYOFFICE, GERLINGEN WORK, oha works).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/gieag-immobilien-ag
• Instagraminstagram.com/gieag_immobilien

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

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 GIEAG Immobilien