GEWOFAG Holding GmbH

What GEWOFAG Holding GmbH does

Münchner Wohnen GmbH is a municipal housing company (Wohnungsbaugesellschaft) wholly owned by the State Capital of Munich (Landeshauptstadt München) and the largest landlord in the city. It manages approximately 74,861 residential units and 1,121 commercial units serving more than 150,000 tenants across all Munich districts and the surrounding metropolitan area (Umland), with an average rent of €8.16 per square meter as of 31 December 2025. The company operates under a public social mandate to maintain affordable housing in one of Germany's highest-cost cities, functioning as the direct provider of below-market residential and commercial rental housing rather than a market-rate landlord.

Its core offerings include residential rental, commercial space rental (Gewerbeflächen), third-party property management (Fremdverwaltung / Eigentumsverwaltung), and active urban development across districts including Freiham (West), Neufreimann (North, with ~5,500 planned units), Haldenseesiedlung (East), Neuaubing (West), and Berg am Laim (East). The technology stack consists of digital self-service channels — the proprietary Mieter-App, the SOWON online application portal, the Wohnungstauschbörse apartment exchange platform, and the Azubiwohnen trainee housing program — supported by 17 physical operational locations and a 1,139-person organization.

The business model is anchored in recurring monthly rental income from long-term residential and commercial leases, supplemented by third-party management fees. As a municipally owned entity, the company does not raise external equity; capital needs are met through operating revenues, municipal funding, and debt, with reinvestment directed toward new construction (notably the large Neufreimann development), energy-efficient modernization (Piusplatz, Klimaquartier Ramersdorf, ASCEND), and social management services (Sozialmanagement, Wohnen & Pflege, Nachbarschaftstreffs). The company is a member of several industry associations (GdW, AGW, ZIA, ICG, Eurhonet, Initiative Wohnen 2050, MieWoh München, Charta der Vielfalt) and operates under Aufsichtsrat (supervisory board) oversight. No revenue figure, founding date, or independent ownership stake is disclosed in the available source data.

Name

GEWOFAG Holding GmbH

Legal name

Münchner Wohnen GmbH

Website

https://gewofag.de

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Münchner Wohnen GmbH is Munich's largest municipal housing company, managing approximately 74,861 residential units and 1,121 commercial units serving more than 150,000 tenants at an average rent of €8.16 per square meter.

Ownership category

akta.pro rank

Product category

Municipal Residential Housing

NAICS

Lessors of Residential Buildings and Dwellings (53111), Real Estate Property Managers (53131)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industries

Mixed-Use Community Association Management (BPAJAHAF), Active Adult / Senior Community Association Management (BPAJAHAJ)

Keywords

• Municipal housing management
• Residential rental services
• Affordable housing provision
• Property management services
• Commercial property leasing

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Rental Income: Core revenue stream from renting approximately 74,861 residential units (including housing cooperative places and third-party management) to over 150,000 tenants across Munich. Rental agreements are standard long-term residential leases, providing recurring, predictable rental income.
2. Commercial Property Rental Income: Revenue from renting approximately 1,121 commercial units (including third-party managed units) to businesses operating within the company's property portfolio.
3. Property Management Services (Third-Party / Fremdverwaltung): Revenue from managing residential and commercial properties on behalf of third parties, contributing to the total managed portfolio beyond the directly owned units.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

GEWOFAG Holding GmbH owns Münchner Wohnen GmbH, Munich's largest municipal housing company, which rents approximately 74,861 residential units and 1,121 commercial units to over 150,000 tenants across the city. The company provides affordable long-term residential rentals, commercial space leasing, third-party property management services, and apprentice housing programs, while developing new residential projects across all Munich districts.

Product overview

Münchner Wohnen GmbH is Munich's largest residential landlord, operating as a municipal housing company with approximately 74,861 residential units and 1,121 commercial units serving over 150,000 tenants. The company offers a unified housing platform combining apartment search, tenant management, and community services through digital channels including the Mieter-App, SOWON platform, and Wohnungstauschbörse exchange system. The product portfolio includes residential rental, commercial space rental, property management, and neighborhood development services.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Rental Housing (Wohnungssuche) Long-term affordable residential rental housing comprising approximately 74,861 residential units across Munich's districts, serving over 150,000 tenants at an average rent of €8.16 per square meter as of 31 December 2025. Units are allocated to eligible applicants via the SOWON social housing platform.
• Commercial Space Leasing (Gewerbeflächen) Rental of approximately 1,121 commercial units embedded within the residential portfolio to small and medium-sized businesses, retailers, and service providers operating within Munich's neighborhoods.
• Third-Party Property Management (Eigentumsverwaltung / Fremdverwaltung) Property management services for owner-occupied condominium units and third-party owned residential and commercial properties, generating management fee revenue beyond the directly owned portfolio.
• Apprentice Housing (Azubiwohnen) Dedicated affordable rental housing program targeted at apprentices and trainees in vocational training in Munich, addressing youth housing affordability as part of the company's social mandate.
• Apartment Exchange Service (Wohnungstauschbörse) Online apartment exchange system allowing existing tenants within the portfolio to swap apartments based on changing housing needs, facilitating internal mobility and reducing external vacancy pressure.

Quantifiable outcome

• ~5,500 new residential units planned in Neufreimann district alone, housing up to 15,000 people
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• MieWoh München — Initiative Mietwohnungen für MünchencoreOthersMünchner Wohnen is a member of the MieWoh Munich initiative, a cooperative housing initiative dedicated to creating and maintaining affordable rental apartments in Munich. The initiative coordinates between the city's major public housing companies to address Munich's housing shortage.
• GdW — Bundesverband deutscher Wohnungs- und Immobilienunternehmen e.V.coreOthersMünchner Wohnen is a member of the GdW, the German federal association of housing and real estate companies. GdW represents the interests of German public, cooperative, and private housing companies at the federal policy level and provides research, consulting, and networking services.
• EurhonetminorOthersMünchner Wohnen holds membership in Eurhonet, a European network of public and social housing providers that facilitates knowledge exchange, best practice sharing, and collaborative projects among European housing companies.
• Initiative Wohnen 2050 (IW2050)coreOthersMünchner Wohnen is a member of Initiative Wohnen 2050, a German industry alliance of housing companies committed to achieving climate-neutral building stock by 2050. The initiative drives energy efficiency, sustainability, and decarbonization in residential property portfolios.
• AGW — Arbeitsgemeinschaft großer WohnungsunternehmencoreOthersMünchner Wohnen is a member of AGW, the working group of large German housing companies, which advocates for the interests of major German residential property companies in political and regulatory discussions.
• Charta der Vielfalt (Charter of Diversity)minorOthersMünchner Wohnen has signed the Charta der Vielfalt (Charter of Diversity), a Germany-wide corporate diversity initiative encouraging employers to create inclusive workplaces regardless of age, ethnic origin, religion, gender, sexual identity, disability, or other characteristics.
• Institut für Corporate Governance in der deutschen Immobilienwirtschaft e.V. (ICG)minorOthersMünchner Wohnen is a member of the ICG, an institute dedicated to promoting sound corporate governance standards within the German real estate industry.
• ZIA — Zentraler Immobilien Ausschuss e.V.minorOthersMünchner Wohnen is a member of the ZIA, Germany's leading real estate industry association, which represents the sector's interests vis-à-vis policymakers, the media, and the public.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• LEG Immobilien AG: NRW-focused residential property company (MDAX-listed) with ~165,000 units. Comparable as a large-scale German residential landlord managing multifamily rental portfolios, though operating commercially rather than under a social mandate.
• Deutsche Wohnen SE: Major Berlin-headquartered residential property company with a large multifamily portfolio across German metropolitan areas. Comparable as a German residential landlord at scale, though it operates on a commercial rather than social-mandate basis.
• Vonovia SE: Germany's largest private residential landlord (~550,000+ units nationwide). Comparable in core business of owning and operating large multifamily residential portfolios at scale, though Vonovia is a for-profit DAX-listed operator covering all major German cities, not a municipally mandated affordable provider.
• Vivawest Wohnen GmbH: One of Germany's largest residential landlords, focused on North Rhine-Westphalia. Comparable as a large-scale operator of multifamily rental housing with some affordable-housing exposure, though privately rather than municipally owned.

Direct peers

• Gewobag Wohnungsbau-Aktiengesellschaft Berlin: Berlin's municipal housing company managing a large residential portfolio with a social mandate. Directly comparable as a German municipal landlord focused on affordable housing at scale in a high-cost metropolitan market.
• GEWOFAG Holding GmbH: Munich's other major municipal housing company, also owned by Landeshauptstadt München and operating tens of thousands of residential units in the same city. Directly comparable in mandate, tenant base, and product mix (residential + commercial rentals in Munich).
• Allbau GmbH: Municipal housing company of Essen (~18,000 units) owned by the city. Comparable in structure as a city-owned Wohnungsbaugesellschaft providing affordable rental housing with social services to a local tenant base.
• SAGA Siedlungs-Aktiengesellschaft Hamburg: Hamburg's municipal housing company, structured similarly as a city-owned provider of affordable rental housing at scale. Directly comparable in municipal ownership, social mandate, and large-portfolio residential property management model.
• Wohnungsbaugenossenschaft München eG: Munich-based housing cooperative providing affordable rental housing to its members. Comparable as a Munich-local affordable rental housing provider, differing mainly in the cooperative (member-owned) rather than municipal ownership structure.

Emerging players

• Heimstaden AB: European residential landlord with a portfolio across Germany, Sweden, Denmark and elsewhere. Comparable as a large-scale multifamily residential operator with affordable-housing exposure, though pan-European rather than single-city focused.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@muenchnerwohnen2024
• LinkedInde.linkedin.com/company/muenchnerwohnen
• Instagraminstagram.com/munchner.wohnen

Revenue estimate

Valuation estimate

Number of profiles

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 GEWOFAG Holding GmbH