WGF to build hotel for Melia at Hamburg Hafencity

Germany's WGF Westfälische Grundbesitz und Finanzverwaltung said on Friday that it has signed an agreement with Spanish hotel group Meliá Hotels International to develop and lease a new hotel on the eastern edge of Hamburg HafenCity.

Düsseldorf-based development company WGF and its subsidiary Ilse Bau und Planung will take charge of the project with construction due to start in 2013. The development, planned to provide 205 hotel rooms on a gross floor area of 8,980 m2, is expected to be completed in 2015. It will be operated under the four-star Innside by Meliá brand.

WGF, which acquired the land from Aurelis Real Estate in September 2010, said it plans to sell the development during the construction phase.