SICORE Real Assets presents a positive balance sheet for its development division. This sector has been progressively built up since 2012. The team, which initially consisted of four employees, has now grown to sixteen specialists. The expansion of the project pipeline was carried out gradually and purposefully.
Development started in 2012 with a first project and an annual investment volume of approximately EUR 6.5 million. For 2026, SICORE's seventeenth project is under development, which corresponds to a total area of over 300,000 square metres of gross floor area. The annual investment sum has increased fourteenfold to nearly EUR 93 million. Cumulative investments in proprietary projects are expected to reach at least EUR 917 million by 2030.
Martina Averbeck, spokesperson for the SICORE Real Assets management board, emphasises that the ability to create value from the existing portfolio through the company's own development department is a significant advantage for investors in market phases with fewer acquisition opportunities. She highlighted that the experienced team and the long-term investment horizon enable sustainably attractive investments, particularly in sought-after A-cities.
Strategic Pillars of Expansion
The development business is an essential component of SICORE's overarching growth strategy. This strategy also includes the acquisition of institutional capital and asset management mandates, as well as the expansion of investments in logistics properties and renewable energies, on both the equity and debt sides.
Thomas J. Becksmann, Head of Development & Construction at SICORE Real Assets, explains that for each property, a careful assessment is made as to whether a new development – potentially within the framework of new mixed-use concepts – or another solution represents the optimal decision. Close collaboration with colleagues from Investment and Asset Management is intended to create synergies and achieve the best possible results in the interest of investors.
Expansion into International Markets
In 2024, SICORE initiated an international development project for the first time. In Paris, an inner-city construction project with historic elements was comprehensively refurbished by summer 2026. New elements, such as a lowered courtyard and a bicycle garage, were also integrated. Further international projects are under concrete review and are expected to follow.
