Berlin / Zurich, October 29, 2021

Lakeward yesterday laid the foundation stone for the new housing project "Ferdinand's Garden" together with the general contractor PORR and local representatives. The project is located on Ferdinand-Schultze-Strasse in Berlin-Lichtenberg and comprises 395 new apartments.

Ferdinand's Garden is located in Lichtenberg, a district of East Berlin that has experienced steady population growth for years due to continuing inflows from the more expensive, central districts of Berlin. The significant development potential of the area offers Lakeward the opportunity to establish a foothold in the location with a large residential real estate portfolio. The development includes 395 functional and affordable housing units with standard and robust construction standards, as well as 79 rent-controlled units. Occupancy is planned for the end of 2023.

Lakeward greatly values the support of local communities and authorities. District City Councilor Kevin Hönicke explains: "We need attractive living and housing spaces that are affordable for a broad section of the population. This building project, adjacent to Berlin’s city centre, will create 199 barrier-free apartments and a great many bicycle parking facilities. Even in times of rising construction prices and scarce land, we welcome any contribution to maintaining our district’s the social mix and development."

Marko Lehmann, Technical Manager Region East of PORR GmbH & Co KGaA: "Lakeward has set the goal of promoting the topic of 'Environmental Social Governance' (ESG) in this project. We want to support this project, actively participate as a company and have therefore developed this project in a partnering process in cooperation with the client and the other specialist planners. In a partnership approach and on an equal footing with all parties involved, the team succeeded in projecting a modern, responsible and sustainable development in the district of Lichtenberg, which we are now allowed to realize in the role of general contractor."

Simon Koenig, founder and CEO of Lakeward: "Together with our partners, we realize a new, lively residential neighborhood in an excellent location. Daycare centers, playgrounds, green courtyards and green roofs also add value to the immediate surroundings. Our laying of the foundation stone today marks the start of urban and sophisticated yet affordable living space, and will further strengthen Lichtenberg as a residential, living and working district of Berlin."

The region offers excellent green recreational areas with the Herzberge Park and Lake Orankesee. The parks are not only ideal for walking and jogging, but also offer large playgrounds for families with children. Other advantages include the popular "Allee-Center Berlin" for shopping and the immediate proximity to the Sportforum Berlin, the second largest sports facility in the capital and the center of Berlin's competitive sports. There are 35 sports facilities available on the approximately 45-hectare site, which are used for top-level, junior and competitive sports as well as for popular sports.

Facts and figures about the residential project 'Ferdinand's Garden':