Zugo 24 November 2022 – Artisa Group, an international real estate development company active in the Swiss and European markets, and NREP, an urban investor with €18 billion of assets under management, have signed a joint venture for the development of the City Pop co-living format in Germany, targeting 5,000 apartments by 2025.
The joint venture starts with an initial portfolio of two assets located in Germany totalling 314 apartments and a strong pipeline, including immediate opportunities comprising 670 units in Frankfurt.
The Artisa Group’s City Pop format is a new housing concept, developed to meet the changing needs of society in terms of comfort, flexibility and technological innovation. It provides fully furnished and equipped co-living flats with all comforts, halfway between the hospitality of a 4-star hotel and classic residential, ideal for short to medium-term rentals to travelling workers, students, young couples and smart seniors.
City Pop is based on the innovative “House as a Service” housing concept, offering a wide range of ‘on-demand’ services (from parking spaces to shared mobility (cars and bikes), from home delivery of meals to professional laundry and flat cleaning services) that can be booked and managed through a dedicated app and a 24/7 assistance service. The app represents the heart and engine of the City Pop concept, allowing users to book and manage the rental contract, common spaces and services in total autonomy.
Artisa currently has seven active City Pops, two in Zurich and the others in Lugano, Essen, Lausanne, Berne and Geneva, while 13 more are planned in Basel, Frankfurt, Geneva, Prague, The Hague, Berlin, Lausanne, St Gallen and Baden, as well as two in Zurich and two in Milan, totalling more than 3,000 flats. Artisa’s objective is to be present with City Pop in several cities of the Old Continent, with more than 15,000 flats.
The joint venture between Artisa and NREP will strongly accelerate the expansion in Germany of City Pop.
