PropertyEU
Quantum wins EUR 54m redevelopment tender in Hamburg
Date: 19 August 2009
Category: Expansion
German developer Quantum Immobilien has won a EUR 54 mln tender to redevelop a 40,000 m2 complex in Hamburg which currently houses the city's Urban Development Authority.

The tender process was stopped last year after the city council's decision to award the project to the Investor Garbe Group without inviting public bids led to massive protests from competitors. Quantum joined nine other competitors in the running for the project when the tender process was resumed.

Work on the building will start in 2013 after the Urban Development Authority moves to new premises. The complex, of which 30% will be used for residential, office and retail purposes, will be connected to the Bleichenhof Passage mall in which Quantum is also involved.
 
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