Ikea to build living district in Hamburg

Ikea to build living district in Hamburg

Swedish-Dutch Ikea is looking for a terrain in Hamburg (Germany) to build a completely new city district, similar to the London “Strand East”-project (photo). The group had already announced plans to build budget hotels and student dorms.

'First we take London, then we take Hamburg'

Harald Müller, CEO of Landprop (the real estate development branch of Inter Ikea), has revealed the plans for a completely new living area near the centre of Hamburg or near the airport. To make this happen, the group is looking for terrain of about five acres. The current city council, which made city growth a priority, allegedly likes these plans, although no real conversations have taken place with Ikea.

 

Hamburg will be the second city in Europe where the Swedes want to build an "Ikea City". Earlier, the company had revealed similar plans for a London Ikea-district, “Strand East”, which should be ready in five or six years. Constructions of that city should begin next year.

 

Budgethotels and student dorms

City districts are not the only real estate projects that Ikea is getting involved in: last week, the group confirmed its plans to build about 100 hotels in the budget-design category in European cities. Its first targets would be The Netherlands, Great-Britain and Poland, where the company is already involved in real estate.

 

A third project involves student dorms: the group is thinking of building several living areas with 500 to 700 dorm rooms of 17.5 sqm. Rather small areas, but “everyone who has been to Ikea before, knows that you can create a lot of space in these kind of areas”, as Harald Müller stated to the German real estate magazine Immobilien Zeitung.

 

 

Translation by Sanne Raspoet

Questions or comments? Please feel free to contact the editors


Delhaize is highlight of new shopping center in Luxembourg

07/09/2017

Shopping center Borders has just opened its doors, right near Schengen. The largest Delhaize store in the Grand Duchy of Luxembourg is its major attraction and should house about two dozen retailers in the near future.

Mitiska Reim acquires its first German retail park

06/09/2017

Belgian real estate firm Mitiska Reim bought a retail park in the German city of Mönchengladbach. It was a collaboration with Luxembourg Investment Group and the group’s first German acquisition.

European retail rental prices continue to soar

20/07/2017

A recent study from research firm CBRE shows that rental prices for Europe’s most expensive retail locations are still on the rise. It is the only region that still experiences growth for retail real estate.

Mitiska REIM acquires 11 Romanian retail parks

23/06/2017

Mitiska REIM has acquired Romanian Alpha Property Development’s portfolio of eleven profitable retail parks and three development projects. The Belgian real estate firm is now the market leader in Romania.

Raad van State suspends Uplace's environmental permit

30/03/2017

Uplace will have to put its construction plans for Machelen on hold once again because the Raad van State just suspended the environmental permit the Flemish government had approved.

Redevco buys new store location in Paris

24/01/2017

Real estate firm Redevco bought a store location, including stores like Tiffany & Co and Glasshütte, in the Rue de la Paix in Paris from Savills Investment Management. Neither party wished to disclose the fee for the acquisition.

Back to top