Capital Bay and Daiwa House Modular Europe, part of Daiwa House Group, establish a strategic partnership with the aim of constructing a joint gigafactory in the field of modular building for the European market

Berlin, 19. October 2021

Capital Bay Group, a fully integrated international asset, investment, and fund manager and cross-sector real estate developer, and Daiwa House Modular Europe are establishing an extensive and strategic partnership for modular building.

George Salden (CEO) and Rolf Schneider (COO) of Capital Bay Group now agreed the strategic partnership with Harry van Zandwijk (CEO) and Richard Brinkman (CFO) of Daiwa House Modular Europe. Daiwa House Modular Europe was established in 2021 following the acquisition of Jan Snel by the Daiwa House Group in the same year. Daiwa House Group is one of the global market leaders in industrialized building with net annual sales of approximately EUR 32 billion, some 49,000 employees, and over 1.9 million completed residential and commercial units.

The aim of the collaboration is to develop an integrated platform for the industrialized production and the sale of prefabricated building modules and microapartments. The target groups for the use and operation of these buildings are the operator brands of Capital Bay’s sister company 360 Operator GmbH, which includes providers from the micro living and senior living sectors, as well as other European third-party clients.

George Salden, CEO of Capital Bay Group, has this to say about the collaboration: “We are proud to be the only AIFM in Germany with this type of strategic partnership and the aim of establishing a joint gigafactory as part of a joint venture. Modular, industrialized, and ultimately digitalized building is the construction method of the future. By using fully prefabricated building modules, which only need to be put together on the building site, we can save 30-50% of construction time, and significantly reduce costs. And above all, this construction concept is fully ESG-compliant.”

The first project is set to be implemented as early as 2022. It will involve the construction of several units in the student, young professional, and senior living segments for operator brands from 360 Operator GmbH’s portfolio. In this process, the ideal conditions for production and sales of further projects will be determined.

Further on in the collaboration, there are plans to develop a joint gigafactory and sales organizations located in Germany. The acquisition of suitable construction land for the gigafactory is planned for 2022, so that production and distribution can begin in 2024. Until then, the building modules will be produced at existing facilities operated by Daiwa House Modular Europe.

Harry van Zandwijk, CEO of Daiwa House Modular Europe: “We aim to minimize the environmental impact of the construction work. Thanks to our circular approach to construction, the individual modules can be easily dismantled at the end of the utilization phase and reused for new construction projects. In addition to saving time, this method also halves the amount of CO2 emissions.”

Rolf Schneider, COO of Capital Bay Group and CEO of 360 Operator GmbH: “It’s fantastic to work together with one of the most established and most innovative companies in Europe in the field of modular building. Through this partnership we are responding to the increase in demand for efficient and affordable housing solutions from both 360 Operator GmbH and on the European housing market as a whole. This enables us to optimally respond to the instructions of our clients and partners with future-oriented construction and housing solutions.”

Press Release

Note on image rights:
Use of the attached image material is permitted solely for the purpose of covering the companies Capital Bay and Daiwa House Modular Europe Please be sure to cite the following sources: For the portrait photo of George Salden: Capital Bay Group – for the portrait photo of Harry van Zandwijk: Daiwa House Modular Europe. Editing of the photographs is limited to the scope of normal image processing.