© Reuters.
HAMBURG (dpa-AFX) – After a construction interruption on the billion-dollar Elbtower project in Hamburg, Commerzbank (ETR:) asset manager Commerz Real expects construction work to continue quickly. Commerz Real is “in discussions with both the company Lupp, which was entrusted with the shell construction, and with the project developer Signa in order to quickly find a solution,” a Commerz Real spokesman said on Friday when asked. “We are still absolutely convinced of the Elbtower and assume that construction work can be resumed soon.”
Last summer, Commerz Real entered the Elbtower project for the open real estate fund “Hausinvest” with a 25 percent stake.
The project developer Signa Real Estate itself, which belongs to the Signa holding company of the Austrian billionaire René Benko, has not yet responded to inquiries about the reasons for the interruption in construction on the Elbtower. The spokesman for Commerz Real said that his company was informed directly by the Lupp company before it interrupted the work.
The high-rise on the eastern edge of Hamburg’s Hafencity, one of the largest European urban development projects, is expected to be the third tallest high-rise in Germany at 65 and 245 meters high, after the Commerzbank Tower and the Messeturm in Frankfurt. According to previous information from Signa Real Estate, the skyscraper is expected to cost 950 million euros.
2023-11-03 23:01:40
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