Pandion AG files for insolvency amid liquidity crisis

The Cologne-based real estate developer Pandion AG has filed for insolvency under self-administration, citing ongoing liquidity problems. The filing affects the parent company and five subsidiaries specializing in real estate, sales, design, project management, and engineering.

The group is currently involved in approximately 3,800 residential units and 200,000 square meters of office space across Germany, with a total project sales volume exceeding 4.8 billion euros. Major projects affected include residential developments in Berlin (such as PANDION LVL UP and PANDION MIDTOWN), as well as various commercial and residential sites in Cologne, Munich, Düsseldorf, and Stuttgart.

Despite the insolvency, Pandion intends to continue business operations through the self-administration process to implement a planned restructuring. Approximately 160 employees are currently facing uncertainty regarding their positions.