Tuesday, 22 September 2009

Ballymore to invest 500 M in Berlin Project

With the acquisition of the Kudamm Karree in a prominent location of West Berlins famous shopping street Kurfürstendamm (called Ku’damm by the locals) the Irish Ballymore Group has taken on one of the biggest town planning challenges in the heart of Berlin. Based on a design by the British architect David Chipperfield the investment volume will be around 500 M Euro.

In a central location on Kurfürstendamm the complex is redevelopped and revived. The new Kudamm Karree will offer an exclusive mixture of apartments and business premises, hotels, cafés and restaurants, shops and leisure facilities. And not to forget: In a time in which otherwise also in Berlin many theatres and cultural facilities must be closed an entertainment theatre will be opened in the new Kudamm Karree in historical style. The total area will be approximately 63,000 sqm. Completion is planned for 2013.

This will pose another threat to the “Haus Cumberland” development by ORCO which is situated nearby and seems to currently be on hold.

For more information visit the project website please http://www.das-neue-kudammkarree.de/

For support in the identification of the right investment targets please visit the pre acquisition section of our website at www.berlin-portfolio.com. Especially for international Private Investors and Property Funds we provide a task force service for quick reaction to interesting opportunities.

We provide independent support for the property search including foreclosure or auction properties and their valuation or appraisal. (Also see our free property market Research Service)

Please use this link to the contact facilities provided there to place any requests .

Uwe Falkenberg


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