Yes, we are actually quite far along, so I am concerned but not completely panicking ;)
When we were on site for the last time before Christmas, the screed was finished (and therefore also the shell for the underfloor heating) (the cables for the electrical work have also been finished for a while and the chases had already been closed up again) and they were just carrying bags for plastering into the house, and the tiler in the bathroom was preparing for the tiling. So, "interior construction in full swing". I don’t know the exact current state because we haven’t been able to get into the house yet this year, but a future neighbor said that even today construction workers were visible at our building site.
Basically, our contract includes a bit more than many developers, for example laying floors and painting walls and also paving the access to the house, terrace, and driveway outside, as well as a prefabricated garage. But I’d say if that shouldn’t happen in the end, it would be unfortunate, but we would somehow manage that too.
I also believe that if they had reasonably profitable calculations for us, everyone involved (us, Tecklenburg, the subcontractors, even the banks that have just given Tecklenburg a loan) has an interest in finishing this.
Basically, according to the press release, it sounds like they had advanced a lot of work in another large project in Ratingen (meaning they built things that had not yet been sold) and then were not able to sell it in 2023. I also assume that because of the sharply increased interest rates not only buyers stayed away, but their own interest costs massively rose in parallel. But that also somehow means that they actually have good assets but are currently just not liquid anymore. My hope is at least that they somehow reach an agreement with their creditors so that this does not affect us too much. But let’s see. Even though my priority is that they pay our subcontractors properly, the banks may see the priorities differently ;)