Austrian investor and developer IMMOFINANZ Group has demonstrated its commitment to increase its activity in the German market, with the announcement that it has broken ground on FLOAT, a new office complex in Düsseldorf.
The symbolic spade cut for the high-profile building – designed by Shard architect Renzo Piano – was made earlier this month, with IMMOFINANZ CEO Eduard Zehetner, Düsseldorf Mayor Thomas Geisel and Bernard Plattner of the Renzo Piano Building Workshop in attendance.
“Germany is one of the markets where we expect to intensify our real estate development projects in the coming years,” Zehetner said.
“With FLOAT we are realising a project that again confirms the importance of Düsseldorf as an investment location and also fits well with our high-quality office portfolio.“
Mayor Geisel said that FLOAT will be a highlight among many other buildings designed by famous architects -including Frank Gehry, Steven Holl and David Chipperfield – that have changed the face of the city over the past two decades.
“The transformation of parts of the Düsseldorf harbour into a modern office and residential quarter remains an important urban planning project that not only attracts companies and residents, but also convinces investors.
“I am pleased to see that IMMOFINANZ has high regard for Düsseldorf as a dynamic business location and is enriching and sustainably strengthening the real estate market in our provincial capital with its projects,“ he added.
FLOAT is a six-building scheme that will provide over 322,000 sq ft of rentable office space with variable floor plates and floor to ceiling glazing.
The buildings will be connected by a bridge on the south side which also acts as a “climatic and acoustic buffer zone” between the south facade and the office areas.
In addition to the office accommodation, there will also be space for shops, showrooms and restaurants on the ground floor.
The location chosen for the development is an attractive one for potential occupiers, as it is directly opposite a tram and bus station and in close proximity to a wide restaurant offering.
Construction is scheduled to be competed in 2018.
