Instone increases total project portfolio to €4.5b

German residential developer Instone Real Estate has secured three development projects in Germany that will create around 680 new apartments in Potsdam, Hanover and Norderstedt.

At the end of the year, Instone acquired a property in Potsdam with a land area of ​​more than 10,000 square meters (108,000 square feet) and secured a project in Hanover with a property area of ​​around 22,000 square meters (237,000 square feet). This was followed by certification for a new building project in Norderstedt near Hamburg with around 20,000 square meters (215,000 square feet) of land. Instone anticipates a total sales volume of around €265 million ($300 million) for the three new projects. There is potential for a total of around 680 apartments. The purchase prices have been agreed between the respective contracting parties. The total approved project portfolio of Instone Real Estate thus increases after the recent increases to an expected total sales volume of approximately â