Joint venture partners Alpha Industrial and land specialist Hagedorn Revital have announced plans to develop a new business park in the west German city Duisburg, aimed at a variety of end-users.
The two companies are developing the 140,000 m2 brownfield site with a view to providing space for a diverse range of commercial, production and industrial companies as well as specialised service providers. In the past, it was occupied by a single industrial user.
Rheindeich S.á.r.l. is the owner of the land plot and plans to invest a total of €48 mln in the project.
Construction work on the new business park is expected to take place in three phases, creating a total capacity of about 70,000 m2.
Earlier this month, the official ground-breaking ceremony took place for the first building project on the site, a 30,000 m2 modern facility for anchor tenant VCK Logistics SCS Projects.
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What is the outlook for the German market in 2017? Will it continue to benefit from its safe-haven status and from the fall-out of Brexit, or will upcoming elections cause jitters among investors?
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