SAGA defies the crisis: Strong annual results and investment offensive for Hamburg

Hamburg, July 23, 2025 – The SAGA Group has presented its 2024 annual report, drawing a highly positive conclusion. Net income increased significantly compared to the previous year, reaching €283.5 million. This result underscores SAGA's role as a financially sound investment within the HGV portfolio, which remains operational and consistently pursues its strategic goals even during a prolonged crisis in the construction and real estate sector.
 

Financial Strength as a Basis for Investments

The Group's solid financial foundation enables it to act counter-cyclically and invest heavily. In the past fiscal year, approximately €570 million was invested in new construction, the modernization of existing properties, and land acquisitions. Despite challenging conditions, 787 construction projects were started. In the medium term, the company plans to increase new construction activity to an average of 2,000 construction starts per year to effectively address the housing shortage in Hamburg.
 

A guarantor of affordable housing

In addition to its strong economic performance, SAGA also fulfilled its social mission within the overall urban fabric in an exemplary manner. With an average net rent of €7.46 per square meter, the company remains significantly below the average rent in Hamburg's rent index. Furthermore, the company once again exceeded its commitments under the cooperation agreement with the city regarding the provision of housing for those with urgent housing needs. The extremely low vacancy rate of 0.3 percent and a decreasing tenant turnover rate underscore the high attractiveness and relevance of SAGA's housing stock for Hamburg's residents.
 

Focus on climate protection and cost efficiency

Looking ahead, SAGA is pursuing a dual strategy of cost reduction and ecological transformation. By applying the "Hamburg Standard," construction costs are to be significantly reduced to keep rents affordable, even in new buildings. At the same time, investments in energy-efficient renovations are being substantially increased to secure Hamburg's ambitious climate protection goals for 2030. SAGA proves once again that economic success, social responsibility and climate protection go hand in hand in the urban corporate group.

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