ORCO Germany is to develop major Leipziger Platz project after acquiring the site of the former Wertheim complex in the centre of Berlin for EUR 75 mln.
ORCO Germany is to develop major Leipziger Platz project after acquiring the site of the former Wertheim complex in the centre of Berlin for EUR 75 mln.
The company said the new development will fill the most important gap between the west and east of the city. With a land area of more than 22 000 m2 the project will be carried out directly on Leipziger Platz right next to Potsdamer Platz.
Viterra Development, a subsidiary of ORCO Germany, will be responsible for the project management. The planned area of 88 000 m2 will be used for office and retail space as well as residential units and hotels.
ORCO Germany has been operating in Germany since 2004 and concentrates on residential and commercial property as well as on asset management and project development. It is listed on XETRA and Frankfurt Stock Exchange.
