P&P Group Announces Energy Modernisation of 1,200 Flats by 2028

German property developer P&P Group has unveiled a comprehensive energy efficiency programme targeting its portfolio of approximately 1,200 flats. Expected to conclude by 2028, the initiative involves refurbishing 300 to 400 units annually. Each building, originally constructed between 1920 and 1980, will undergo a detailed evaluation assessing heating, insulation, and structural elements to tailor specific refurbishment plans.

P&P Group's CEO, Eva-Maria Zurek, highlights the existing focus on energy efficiency in new builds, which the firm will extend across their portfolio. Customised solutions are essential, as noted by CIO Christoph Langfritz, due to the portfolio's diverse nature, ranging from large blocks to smaller listed properties.

Modernisation efforts, involving heating system upgrades and thermal insulation, aim to boost tenant comfort and property appeal. Post-refurbishment, some properties may see increased rents, balanced by potential savings in tenants' operating costs. The programme is supported by a new company unit focused solely on existing property modernisation, leveraging the firm's expertise in restorations.