Kuwait Single Family Office Acquires “Neudorfer Tor” in Duisburg

Kuwait Single Family Office Acquires "Neudorfer Tor" in Duisburg

L’Etoile Properties acquired the “Neudorfer Tor” office building in Duisburg for the Kuwaiti Family Office “Saud Abdulaziz Al-Rashed Group of Companies”. The building was sold by Wohninvest.

Office building with 6,995 sqm space bought from Wohninvest

In 2016, German Wohninvest group acquired the “Neudorfer Tor” object from GEBAG Duisburg. Wohninvest is a real estate developer and investor from Southern Germany, GEBAG is the municipal housing company in Duisburg. The office building offers 6,995 sqm space and 114 parking spots. It was constructed in 2005, tenants include call center service Concentrix or a medical service. The building which was constructed in 2005 is situated near the central station in Duisburg. The purchase price remains undisclosed.

Kuwait Single Family Office Plans Further Real Estate Investments In Germany

The Saud Al-Rashed Group is active inv arious industries, from Oil and Gas to energy, real estate and infrastructure projects. Other sectors include communications, logistics, supplies, production and manufacturing as well as process enginereeing services and home appliances. The real estate portfolio of the Kuwaiti family office mainly consists of properities in the United States and Germany. In the long-term, Saud Al-Rashed plans further acquisitions in Germany.

Sources
L’Etoile Properties, 5.12.2019
Daniel von Appen, 5.12.2019

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