BNP Paribas Real Estate said on Friday that its development division will develop the first scheme in Germany following the acquisition of a 2,460 m2 plot in Frankfurt.
The development, to be known as 99 West Tower, is in line with the company's plans to strengthen its European presence and is supported with the opening of a local office in Frankfurt at the beginning of April, headed by Martin Fässle as technical director for Germany.
'We have recently announced the new governance of our property development activity, structured around three essential pillars: innovation, transversality and international expansion,' said Thierry Laroue-Pont, chairman of the management board of BNP Paribas Real Estate. 'The acquisition of this plot of land in Germany is an early indicator of our high ambitions for our new organisation and shows the ability of our teams to develop the business abroad.'
The site is in the Westend District of Frankfurt and is expected to provide around 24,000 m2 of gross floor space.
'After having expanded the property development business line internally notably with the Google headquarters in London and those of Banca Nazionale Del Lavoro in Rome, our teams demonstrate their pan-European expertise again with the 99 West Tower project. The launch of this large-scale scheme is a compelling illustration of our ambitions in Germany for this business line,' commented Thomas Charvet, general manager of BNP Paribas Real Estate’s commercial property development business.