Projektierungs- und Verwaltungsgesellschaft TIETZ Chemnitz mbH

Projektierungs- und Verwaltungsgesellschaft TIETZ Chemnitz mbH was established to acquire, develop and market the former Kaufhof department store “TIETZ” in Chemnitz and acquired the property under purchase agreements in 1999/2001 to promote downtown development. The property comprises 19,406 m² of commercial space, was reopened after renovation in October 2004, and the City of Chemnitz was secured as the main tenant. For fiscal year 2024 the company reported revenues of TEUR 3,654, of which rental income amounted to TEUR 2,335; occupancy was nearly 100%. The company had no employees at the reporting date and its operational business is managed free of charge under a service agreement by the sole shareholder GGG.