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Elbtower
The Elbtower is a partially built skyscraper east of the HafenCity borough of Hamburg, Germany. Construction began in 2021 and was halted in 2023 due to bankruptcy of the main financier Rene Benko of Signa Holdings. If completed, the tower would have a height of 245 metres (804 ft). The tower would be, by far, the tallest building in Hamburg and the third tallest in Germany – after the Commerzbank Tower and the Messeturm (both in Frankfurt).
The government of Hamburg (Senate of Hamburg) first presented the project in March 2017 at the Marché International des Professionnels de l’immobilier. Its mostly finalised design was presented in February 2018 by Hamburg's then First Mayor Olaf Scholz and representatives of the HafenCity Hamburg GmbH and its investors.
The building is being built on a prominent urban site on the north bank of the Norderelbe river and thus mark the entrance to the inner city. The site is bordered by several bridges crossing the Norderelbe.
Construction began in 2021 and was expected to be completed in 2026. According to estimates, the construction costs amount to €700 million.
The State bank Helaba played a central role in the construction project of Elbtower. As became known after the bankruptcy of the Signa Group, the government of Hamburg only wanted to sell the property on the edge of Hafencity on the condition that there were already secure tenants for part of the area. Helaba then took over the required pre-letting quota as a so-called "suitable financier". Only then did the city of Hamburg sell the property to Signa.
In November 2023, Reuters reported that construction had been halted apparently because the main developer, Signa Prime, a Rene Benko company, had failed to make its payments to Lupp, the construction company. If Signa fails to meet its contractual obligations, the City of Hamburg may issue penalties and claim repurchases rights.
In December 2023 it became public that Signa Holding is bankrupt.
The tower was designed by Christoph Felger from David Chipperfield Architects, an English architecture firm known for a lower high-rise project in Hamburg, namely the Empire Riverside Hotel.
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Elbtower
The Elbtower is a partially built skyscraper east of the HafenCity borough of Hamburg, Germany. Construction began in 2021 and was halted in 2023 due to bankruptcy of the main financier Rene Benko of Signa Holdings. If completed, the tower would have a height of 245 metres (804 ft). The tower would be, by far, the tallest building in Hamburg and the third tallest in Germany – after the Commerzbank Tower and the Messeturm (both in Frankfurt).
The government of Hamburg (Senate of Hamburg) first presented the project in March 2017 at the Marché International des Professionnels de l’immobilier. Its mostly finalised design was presented in February 2018 by Hamburg's then First Mayor Olaf Scholz and representatives of the HafenCity Hamburg GmbH and its investors.
The building is being built on a prominent urban site on the north bank of the Norderelbe river and thus mark the entrance to the inner city. The site is bordered by several bridges crossing the Norderelbe.
Construction began in 2021 and was expected to be completed in 2026. According to estimates, the construction costs amount to €700 million.
The State bank Helaba played a central role in the construction project of Elbtower. As became known after the bankruptcy of the Signa Group, the government of Hamburg only wanted to sell the property on the edge of Hafencity on the condition that there were already secure tenants for part of the area. Helaba then took over the required pre-letting quota as a so-called "suitable financier". Only then did the city of Hamburg sell the property to Signa.
In November 2023, Reuters reported that construction had been halted apparently because the main developer, Signa Prime, a Rene Benko company, had failed to make its payments to Lupp, the construction company. If Signa fails to meet its contractual obligations, the City of Hamburg may issue penalties and claim repurchases rights.
In December 2023 it became public that Signa Holding is bankrupt.
The tower was designed by Christoph Felger from David Chipperfield Architects, an English architecture firm known for a lower high-rise project in Hamburg, namely the Empire Riverside Hotel.