Press archive
Cooperation Bau-Verein - DESIGN Bau AG
Partnership venture between Bau-Verein zu Hamburg Aktien-Gesellschaft, Hamburg, and DESIGN Bau AG, Kiel, for the development of the "Wohnen und Arbeiten am Stadtpark"project in Hamburg-Winterhude
Via a joint property company, Bau-Verein zu Hamburg Aktien-Gesellschaft, Hamburg (Bau-Verein), and DESIGN Bau AG, Kiel (DESIGN Bau), have today acquired a property in the Hamburg suburb of Winterhude located directly adjacent to the city park. The property, for which DESIGN Bau was awarded the contract in a tender process, had previously been acquired by DESIGN Bau from aurelis Real Estate GmbH & Co KG. Bau-Verein and DESIGN Bau will be jointly implementing the "Wohnen und Arbeiten am Stadtpark"("Living and Working near the City Park") project, which entails the development and construction of an expected 750 apartments with a total residential floor area of around 70,000 square metres as well as commercial units and retail space with an available floor area of around 14,000 square metres.
Worth a total of around € 170 million, the project will extend over a period of at least three years and be completed in separate stages.
Bau-Verein zu Hamburg
Aktien-Gesellschaft
Hamburg, 11 December 2006