The wbg Nürnberg Group can look back on a successful year in 2024, both economically and strategically. With total assets exceeding one billion euros for the first time (1.113 billion euros) and an annual surplus of 17.1 million euros, the positive development continued despite the challenging conditions in the real estate sector. A lot has also been achieved in terms of operations: with the construction of new apartments, the renovation of existing neighborhoods, and the construction of educational and infrastructure projects, wbg is once again making a decisive contribution to urban development in Nuremberg.
“For us, 2024 was a year in which ambition and responsibility came together in a special way,” says Ralf Schekira, Managing Director of wbg Nürnberg. “Not only did we continue to operate on a sound financial footing, we also invested heavily in the future of our city – in housing, education, social infrastructure, and climate protection.”
As of the balance sheet date, the wbg group managed 19,045 of its own residential units, 5,350 of which were publicly subsidized, including 1,264 income-based subsidized apartments (EOF). In addition, the company managed 1,030 third-party rental apartments on behalf of third parties. In 2024, 1,386 households were able to find a new home with wbg – a strong signal given the tense housing market situation.
210 apartments in the portfolio were modernized and 18 new apartments were created by adding additional floors. Two major renovation projects in the Parkwohnanlage and Langwasser Süd neighborhoods, comprising a total of 60 residential units, were completed. One highlight was the completion of the large-scale monopol491 project with 174 subsidized apartments, meaning that wbg will have built over a quarter of the subsidized apartments in Nuremberg by 2024.
The wbg property developer also launched new plans in the EichQuartier and SchönLebenPark in Langwasser, while further residential units were successfully marketed in RieterBogen Kornburg and SchönLebenPark.
WBG KOMMUNAL GmbH has created social infrastructure on behalf of the city of Nuremberg, including a daycare center, a school, a gymnasium, a children's and youth center, two temporary buildings, and three fire stations. Around 50 other projects are in the planning or construction phase. The new building for the Nuremberg vocational high school is on schedule and within budget, with completion planned for 2026.
With the adjacent Breslauer Straße school center, construction has begun on a campus for around 2,600 students. At the New Gymnasium Nuremberg, the interim measures have been completed, and the existing and extension buildings are progressing according to plan. The new construction of the Martin Behaim Gymnasium is proving more challenging due to significant disruptions to the construction process, which are being addressed with comprehensive crisis management.
“WBG KOMMUNAL has been taking responsibility for important public construction projects in Nuremberg for years,” emphasizes Ralf Schekira. “We always want to respond to the trust placed in us by the city with high standards.”
In addition to new construction and modernization, compliance with climate policy objectives remains a central benchmark for action. WBG focuses on sustainable construction methods, renewable energies, and energy-efficient neighborhood solutions—including in its own building stock. At the same time, the company remains committed to ensuring socially acceptable rents. In 2024, wbg's average rent remained well below the city's rent index (€9.65 per square meter) at €7.53 per square meter.
The current annual report of wbg Nuremberg can be found >here.
