In spite of the economic crisis Allianz Real Estate Germany GmbH has increased the property it has rented out by 19 percent.

"With these very good rental results we have proved that Allianz Real Estate Germany is an efficient investment and asset manager even in times of economic crisis“, said York von Pannwitz, the Chief Asset Management Officer at Allianz Real Estate Germany GmbH. "We have recorded a good level of de-mand for our property which, following in-depth fine-tuning of the portfolio in recent years, is now heavily concentrated in at-tractive locations in cities which are the economic powerhouses in Europe.“ The office properties in the Allianz portfolio include well-known properties such as, for example, mainBuilding opposite the Alte Oper in Frankfurt / Main, the Sprinkenhof in the Kontorhausviertel in Hamburg, the Forum in Amsterdam and the “Bundespressekonferenz” in Berlin.

In 2009 approximately 65 percent of the spaces were rented out in Germany, and a further 35 percent was rented out within the neighbouring European countries.

The successful work carried out by Allianz Real Estate Ger-many’s own sales teams working together with the external broker associates made a crucial contribution to the success in renting out property in 2009. In addition to this, the company specifically targets the requirements of both potential and cur-rent tenants with its professional asset management team. Mr von Pannwitz went on to say that, "Our sales strategy in con-junction with logical and systematic customer-orientation in asset management has proved itself in a time of crisis.“

The Company is about to enter into more rental agreements. Mr von Pannwitz said, “We are looking forward to 2010 with confidence with regard to the rental business as well as to new investments with which we shall continue to expand the Allianz property portfolio.“