Signa to develop €700m Elbtower in Hamburg

Signa, the real estate and retail group controlled by Austrian businessman René Benko, has been awarded the contract to develop Elbtower, which will be the tallest building in Hamburg. 

The selection was announced on 8 February following a tender process which began in May 2017. A jury consisting of architects, city planners and real estate professionals have backed Signa's plan to develop and build the 233-metre tower based on a design by David Chipperfield Architects.

The mix-use Elbtower will be located next to the Elbe Bridges in the HafenCity district of the German Hanseatic port city. Construction will start in early 2021 and completion is planned for mid-2025.

The project will be run by Signa Group's Signa Prime Selection business, which is already one of the largest real estate owners in Hamburg. Signa's existing €1.5 bn portfolio in the city includes Alsterhaus, Alsterkaden and Kaufmannshaus.

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Situated on a property size of 21,055 m2, the mixed-use high-rise building will comprise a gross floor area of 104,000 m2. Office and co-working space will account for 73,000 m2, with 20,000 m2 taken up by a hotel and boarding house and 11,000 m2 assigned to public and service-oriented public areas. There will be 3,000 work places and parking for 600 vehicles.
Elbtower will be certified pursuant to the Platinum Standard of the HafenCity eco-label and will fulfil the ambitious Smart Mobility concept of the eastern HafenCity, according to Signa.
Signa said that the tower will become an 'unmistakable point of focus in Hamburg'.

Elbtower, according to the developer, represented both a culmination of the HafenCity development and, at the same time, the prelude to the entrance into Hamburg's city centre. Together with the new Elbbrücken subway and urban railway station, it would become a new urban hub reachable from the future urban development areas of Billebogen and Grasbrook.

Timo Herzberg, CEO of Signa Prime Selection: 'Hamburg, with its long history and high appeal, is getting a new urban landmark with the Elbtower. The aim of the project is to create a place that appeals to and unites all of society, through the creation of spatial and functional structures that allow for a variety of forms of work and uses. We are proud that we received a unanimous vote from the jury for our spectacular design and concept.'

David Chipperfield added: 'We are very pleased that we won the bidding process for the Elbtower together with SIGNA and that we have the opportunity to work in Hamburg again, especially in such an important location. As architects, we are increasingly aware that the city depends on the quality of private construction projects to create a strong social dimension that addresses the complexity of the city. We are very happy to take on this responsibility with the Elbtower project.'