The second half of Pandion has been strong so far. From September to November sales are above budget. After eleven months, Pandion has a sales volume of 198 million euros. That corresponds to the plans. By the end of the year, the sales volume should increase to around 210 million euros.
Sales figures are particularly high in Berlin and Cologne. Executive Board member Reinhold Knodel: “We are very lucky that our business is less affected by the Corona crisis than other industries. Overall, we are very satisfied with the development in all regions, our projects in Berlin and Cologne deserve special mention, which have so far delivered particularly good sales figures in the autumn. ”
Knodel continues: “Our resistance to crises is also a result of our high purchasing dynamics in recent years, which is the foundation of our broadly diversified project pipeline.”
Pandion’s pipeline currently has 36 projects with a sales volume of around 4.3 billion euros. The focus is on Berlin, Düsseldorf, Cologne and Munich.
In the fall, Pandion actually wanted to issue a bond. However, the issue has been postponed due to the capital market environment. The bond should have a volume of 50 million euros.