WING Group: Exceptional Transaction Results in Q4 2024
2025-03-11
- Wing Group Subsidiaries successfully execute office investment sales in Germany, Hungary and Poland in excess of €200 million - Including all transactions the Group realized close to €300 million in sales proceeds in 2024 - Additionally, the Group sold over 2,500 apartments WING Group, one of Central Europe’s leading real estate developers and investors, achieved significant success in the transaction market last year. In 2024, WING Hungary, Bauwert AG and ECHO Investment closed deals worth nearly €300 million, including the sale of three office buildings across three countries exceeding €200 million, and a residential complex in Germany. Additionally, the Group sold over 2,500 residential units across Germany, Poland and Hungary strengthening its financial position, and increasing its cash reserves and liquidity.
Key achievements included
- Germany: the sale of a 10,500 sq m office building as part of the Neue Bockbrauerei development along with the sale of the 8,500 sq m LIV Berlin residential complex in Berlin,
- Poland: the sale of the 15,000 sq m React office building in Łódź,
- Hungary: the sale of the 6,500 sq m Honvéd Center office building in Budapest.
The company also achieved outstanding results in the residential real estate market, selling more than 2 500 apartments in 2024 in the three countries, exceeding expectations.
"The WING Group aspires to be the market leader in each of the markets in which we are present. The ability of ECHO Investment, Bauwert and Wing to successfully execute competitively priced office sales in a challenging market speaks to the professionalism of our teams and to the outstanding quality of our buildings. Our strategic focus on residential development and living based platforms underpins our long term growth strategy in all three countries, demonstrating strong results in 2024. Our involvement in commercial property including office, industrial, hotel and retail properties complement our residential activities and provide long term, sustainable results for our tenants, investors and stakeholders,” said Noah Steinberg, Chairman and CEO of WING, and Chairman of the Supervisory Boards of ECHO Investment and BAUWERT.
In 2024, WING Group strengthened its leading position in Central European real estate through successful transactions and project completions. To support growth, WING will optimize its portfolio, explore new financing, and leverage strategic partnerships. By focusing on expansion and financial stability, the company aims to drive long-term value and strengthen its market position.
