Restructuring of the board of management of Domicil Real Estate AG

Khaled Kaissar, the founder and CEO of Domicil Real Estate AG, is leaving the board at his own request with effect from 31.07.2023. Klaus Schmitt, until 31.07.2023 the Chairman of the Supervisory Board of the company, is assuming the function of CEO in the interim. Daniel Preis, Chief Sales Officer (CSO), is to be Co-CEO.

“I have been the CEO for nearly 15 years; it has been an exciting and wonderful time for me. Together we have achieved a great many things, developing Domicil into a successful and well-established real estate company. I would like to thank all my colleagues for the excellent collaboration. However, it is now time for me to hand over the baton and stand down from the operational side of the business. I have complete confidence in the expertise of the two board members Klaus Schmitt and Daniel Preis,” says Khaled Kaissar. As the majority shareholder Kaissar will continue to maintain close ties to the company and remain an advisor.

“The business model of Domicil is extremely stable. With our management activity for third parties we attain recurring revenues, and demand on the part of investors, owner-occupiers and tenants for apartments has returned to the level seen before the crisis,” explains Klaus Schmitt. “We are excellently positioned to post further growth as a company. Alongside additional investments in real estate portfolios suited to privatisation, we will also expand the field of asset management for third parties. A large number of international investors are once again intensively considering the potential of German residential real estate as an investment opportunity. In addition, we will also increasingly offer our services to portfolio holders and as well to companies whose real estate portfolios have encountered financing difficulties or face the prospect of such problems.”

Daniel Preis has been employed at Domicil since 2010. His main focus is on the privatisation of apartments, as well as on asset and property management. He has developed a unique sales network of financial services providers. Klaus Schmitt came to Domicil in the summer of 2022 and had previously been a member of the board of management of Patrizia SE for more than 14 years.

Prof. Dr. Georg Erdmann, to date the Deputy Chairman of the Supervisory Board, will take up the position of Chairman of the Supervisory Board.

Restructuring of the board of management of Domicil Real Estate AG