Experts fear a further reduction in capacity for housing construction.
(Photo: dpa)
Dusseldorf After Vonovia announced that it would stop new construction, criticism of Europe’s largest landlord has intensified. The Bauen-Agrar-Umwelt trade union, which represents employee interests in the construction industry, is calling for the federal government to play a significant role in Vonovia.
Harald Schaum, deputy federal chairman of IG Bau, said on Wednesday: “It’s high time that the federal government got involved with Vonovia. He must acquire a stake of 25 percent plus one share – i.e. the lowest and thus most favorable blocking minority in the general meeting and a correspondingly effective influence on the supervisory boards.
According to Schaum, the state would thus have an influence on Vonovia’s long-term strategy, i.e. also on new construction, modernization and rental price developments. “In addition, this would be a strong signal: the state would make it clear that – after many privatizations – it is again interfering in the housing market.”
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