The projects have a total budget of €800,000.

Demand for housing is high and rents are "hot" due to shortages.

How the holiday home market is shaped according to analysis by Engel & Volkers.

The aim is to enhance the property's fire safety degree, to reduce its vulnerability to fire and to limit its contribution to its spread.

In a statement, the company said its board is reviewing the group structure through the lens of driving shareholder value.

The partnership in the joint project Elbtower in Hamburg is not affected by this transaction.