P&P Group Initiates New Sales Phase for Residential Project in Bamberg

On May 15, 2024, the P&P Group, a German project developer, announced the commencement of an additional sales phase for more than 300 freehold flats at Lagarde Campus in Bamberg, Bavaria. This decision comes as a response to the strong market demand, with nearly half of the units already sold. The residential project is notable for being located on a former US barracks site, providing unique tax benefits under sections 7h and 10f of the German Income Tax Act to both investors and owner-occupiers.

The Lagarde Campus is set to offer a diverse range of flat sizes suitable for singles and families, ranging from one-bedroom units to spacious four-room family apartments. The development not only focuses on housing but also incorporates services, government offices, medical care, and cultural facilities. Additionally, the project is pioneering in terms of energy and mobility, implementing sustainable practices such as geothermal energy, heat pumps, and photovoltaic systems to meet up to 80 percent of its energy needs.