ING Real Estate celebrates groundbreaking at two major docklands transformation projects (DE/NL)

On 25 September 2007, Hamburg's mayor Ole von Beust laid a ceremonial first stone for the Überseequartier project. This mixed-use project will transform 8 hectares of former docklands on the river Elbe into an extension of the Hamburg city center, effectively reconnecting the city with the river. The total investment of the first phase is approximately €900 million.

Artist impression of Überseequartier.

The Überseequartier project involves the construction of 16 separate buildings, designed by a variety of architects including Erik van Egeraat Associated Architects, Rem Koolhaas' OMA, BDP and NPS. The project creates a combined floor space of 272,000 m², including some 400 apartments, 124,000 m² office space, 55,000 m² retail space, 10,000 m² restaurants and bars, a hotel, a cruise terminal, a science center, an aquirium, 3,600 underground parking spaces. The new U4 metro line will give access to the Überseequartier. Completion of the project is scheduled for 2011. Partners in the project are German developer Gross & Partner and SNS Property Finance.

Earlier this month, Maarten van Poelgeest, city councillor for spatial planning, performed the groundbreaking ceremony for the Overhoeks project on the river IJ in Amsterdam. This mixed-use project transforms a 20 hectares industrial area, formerly housing Royal Dutch Shell research facilities, into a lively new neighbourhood effectively extending the Amsterdam city centre across the river. The total investment in Overhoeks is approximately €1.1 billion.

The project includes the construction of 2,200 residential units, 70,000 m² office space, 34,000 m² retail space, 26,500 m² non-commercial space, the Filmmuseum (Museum for Cinematography), a park, the refurbishment of historic buildings and 5,200 parking spaces. Architects involved are Álvaro Siza, Tony Fretton, Francine Houben and Jo Coenen. Austrian architects Delugan and Meissl designed the new Filmmuseum. Royal Dutch Shell is building a new Shell Technology Centre adjacent to the project area. Completion of Overhoeks is scheduled for 2015. Partners in the project are housing corporation IJmere, residential fund Vesteda, Royal Dutch Shell and the City of Amsterdam.

Menno Maas, CEO ING Real Estate Development, said, "I am very proud of these two important projects. Both are showcases of area redevelopment which aim to rejuvenate cities by injecting new life into decayed areas. In future, 'transformations' of this kind will play an increasingly large role in real estate development in Europe. I am happy that ING Real Estate, together with its partners, is demonstrating its capabilities in this field in Hamburg and Amsterdam."

Source: ING Real Estate

Related News