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HOCHTIEF Projektentwicklung lays cornerstone for “forum am Hirschgarten”

05-24-2012 07:38 PM CET | Industry, Real Estate & Construction

Press release from: HOCHTIEF Solutions AG

"forum am Hirschgarten" in Munich

"forum am Hirschgarten" in Munich

Office and commercial property with rental area of 33,000 square meters to form center of new Munich urban district, Am Hirschgarten

HOCHTIEF Projektentwicklung today lays the cornerstone for the Forum am Hirschgarten, an office and commercial property with a rental area of around 33,000 square meters, in the center of the urban development area “Am Hirschgarten—Die Mitte im Grünen”. From the beginning of 2014, the project—consisting of two buildings on a car-free plaza—will provide around 25,000 square meters of office space and roughly 8,000 square meters of commercial space. There will also be three underground levels with a good 400 parking slots in the underground garage and storage rooms. Two-thirds of the commercial space and one-quarter of the office space have already been let.

In future, the Forum am Hirschgarten will stand at the center of the Am Hirschgarten urban quarter and will cover the daily needs of the local residential and business district. A REWE supermarket will be taking 2,000 square meters of commercial space in the northern building, which will have up to eleven stories. The patent law firm, Epping Hermann Fischer, has already secured 5,000 square meters on the eight upper stories. A further 1,500 square meters of office space will be used by a real estate company. The commercial space in the southern, seven-story building will house an Alnatura organic supermarket (700 square meters), an Aldi discount store (1,100 square meters) and a dm drugstore (650 square meters). The Forum am Hirschgarten has already received Silver precertification from the German Sustainable Building Council.

HOCHTIEF is one of the leading international providers of construction-related services. With more than 75,000 employees and a sales volume of EUR 23.28 billion in FY 2011, the company is represented in all the world’s major markets. The Group’s service offering in the fields of development, construction and operation covers the entire life cycle of infrastructure projects, real estate and facilities. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton (HOCHTIEF share around 54 percent), the Group is market leader in Australia. Because of its engagement for sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006.

HOCHTIEF Solutions consolidates the core business of the HOCHTIEF Group in Europe and in selected regions worldwide. The company finances, plans, develops, builds, operates and manages real estate and infrastructure facilities. HOCHTIEF Solutions is the management company of the Group’s Europe division which employed around 15,000 people around the globe in fiscal 2011. In many regions and segments, the company is a market and innovation leader.

HOCHTIEF Projektentwicklung is a fully owned subsidiary of HOCHTIEF and organizationally related to HOCHTIEF Solutions. Since 1991 the company has been developing, realizing and marketing real estate projects in Germany and abroad and is considered Germany’s leading inner-city developer. Its core business comprises office buildings in central business districts and areas within easy reach of city centers. It also focuses on retail properties, residential properties and accommodation for senior citizens, and the development of entire urban quarters. Hotels, distribution centers and special-purpose properties are also among the product market segments which the company addresses. HOCHTIEF Projektentwicklung does not build up any property portfolio of its own but operates as an “interim investor” with the goal of selling its projects to a final investor as swiftly as possible.

Gabriele Stegers
Head of Communications Real Estate Solutions
HOCHTIEF Solutions AG
Alfredstrasse 236
45133 Essen
Germany
Tel.: +49 201 824-2282
Fax:+49 201 824-1728
Email: gabriele.stegers@hochtief.de
Web: www.htp.hochtief-solutions.com

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