Overview

• Saga Hamburg achieved a record after-tax profit of €283.5 million in 2024, about €100 million more than in 2023 despite a slight revenue decline to €1.15 billion.
• The municipal company maintained full occupancy across roughly 140,000 apartments and 1,400 commercial units throughout 2024.
• Average net cold rent stayed at €7.46 per square meter, nearly 30 percent below Hamburg’s current rent index.
• Saga initiated 800 new construction starts last year and has set a medium-term goal of reaching 2,000 building commencements annually.
• The landlord invested about €570 million in maintenance, new builds and land acquisitions in 2024 and aims to boost annual spending to €700 million.