HISTORY

YESTERDAY-TODAY-TOMORROW

Tomorrow Our objective is to be the partner of choice in property-related decisions for corporate and family-owned assets throughout Germany. We intend to achieve this by supporting and advancing all commercial and technical property-related decisions by means of simplification and transparency, with excellent employees and in collaboration with reliable partners.

Today Famos is a family owned business, that ist not owner-managed. Ownership is held by members of the second generation of the Otten family. The advisory council consists of Dr Albert Otten and Heiner Otten, together with Dr Dominique Otten-Pappas from the third generation.

2008 The great significance of property as an asset class and the resultant demand for professional services among entrepreneurial families has moved Famos to offer its property expertise also to other families. In 2008 this resulted in the emergence of one of the first family offices specialised in property management in Germany. As a consequence of the strategic decision to open Famos to other families as clients the Otten family is no longer actively purchasing or developing properties.

2002 Due to the creation of the Famos Holding, the family’s entire property portfolio can now be united under one roof for the first time. The newly founded Single Family Office makes it possible to generate synergies between individual assets and deploy qualified experts.

1999 Following the sale of allkauf-Otten, the family concentrates even more intensively on property project development and on the management of its existing portfolio. The project development and property management activities are extended from commercial to office and hotel properties.

1998 In Chemnitz, the SACHSENALLEE, the first urban shopping centre with selling space of more than 20,000 m², is opened. Its architect is Fritz Otten. At around the same time, the family sells its allkauf-Otten retail activities to the Metro Group. Famos, as a family office for property issues, remains within the family.

1974-1994 The family-run company expands under the management of the sons Heiner and Dr Albert Otten, building and operating 11 allkauf-Otten branches throughout Germany. They recognise the new, eastern, federal states in particular as a growth market following the German reunification. During this period, the company’s workforce grows from 100 to more than 1,200 employees. Its overall selling space increases from 6,000 m² in 1974 to 50,000 m² in 1994.

1974 Their father, Heinz Otten, demonstrates the family’s early recognition of the growing market for self-service retail by founding allkauf-Otten and building the first allkauf self-service department store in Grevenbroich. His cooperation partner is the Mönchengladbach-based allkauf Group.

1964 When Heiner Otten talks about the first specialised outlet opened by the family, he is describing a piece of family history. A friend of his father (Eugen Viehof, later founder and manager of Selgross and allkauf) travels to the USA at the beginning of the 1960s and reports on hypermarkets that are intended solely for tradespersons – who have the opportunity to purchase large quantities there. This gives the Otten family the idea of building one of the first self-service wholesale outlets - “Selgross” for short - on an area measuring 6,000 m² just outside of Aachen. By building this wholesale outlet, the company extends its field of activities to commercial property.

1959 With its development of residential properties in Krefeld in 1959, the Otten family extends its field of commercial activities by entering the property development sector.