The chemical company BASF wants to sell the majority of the apartments of its subsidiary BASF Wohnen + Bauen. As the Ludwigshafen-based chemical company announced, there are 1,100 condominiums that are to be sold to various individual buyers, as well as 3,300 apartments that are to be sold as a complete package including buildings to a prospective buyer. For the majority of the properties, a buyer with an interest in a “long-term, sustainable investment” should be found by the beginning of 2027.
BASF justified the step with the difficult market environment. This requires a high level of focus on the core business, said the head of the European network locations, Helmut Winterling. He spoke of a “difficult but necessary decision” to strengthen the balance sheet.
Apartments for sale mainly in Ludwigshafen
Part of the inventory in the area surrounding the site therefore remains the property of BASF. The majority of the remaining apartments for sale are spread across the city of Ludwigshafena smaller collection is located in Frankenthal and Mannheim.
The Mining, Chemical and Energy Industrial Union (IGBCE) heavily criticized the planned sale. “The impression arises that the so-called silverware is being sold,” said the Ludwigshafen district. “Here, real estate assets are supposedly sold without necessity and people’s ties to the company are given up.”
Operating loss of one billion euros
A spokeswoman for the Rhineland-Palatinate state government also said: “The state government is critical of the planned sale of BASF factory apartments.” The chemical company has a responsibility towards its employees and also the city of Ludwigshafen. BASF must ensure that tenants of the company’s apartments can continue to rely on affordable rents in the event of a possible sale.
Especially at the main plant in Ludwigshafen BASF has been struggling with high energy costs for years and a global oversupply of basic chemicals. There was an operating loss of around one billion euros in 2024 alone. The balance sheet for the past year will be published next Friday.
