25.06.2024 14:31:55 - dpa-AFX: Groundbreaking for large 'Siemensstadt Square' development in Berlin

BERLIN (dpa-AFX) - Construction on a large new industrial and residential
development project in Berlin, dubbed Siemensstadt Square, began on
Tuesday with a groundbreaking ceremony featuring German Chancellor
Olaf Scholz.

The new, approximately 76-hectare urban quarter is to be built by
2035 on the historic former industrial site of German engineering
giant Siemens in the western Berlin district of Spandau.

Siemens was founded in Berlin, and its historical production
facilities were located in the area, long known as Siemensstadt
(Siemens City).

After World War II, Siemens moved the company headquarters and much
of its production to the southern German city of Munich.

'The urban space should not just be a bedroom community, not just a
working environment or just a shopping space,' said Scholz.

The concept combining all aspects means that Siemensstadt will remain
a place of the future and of confidence, the chancellor said.

'The exciting thing is that we are building the city of the future
from an existing city quarter,' said Siemens chief executive Roland
Busch.

Around 35,000 people are to live and work in the new neighbourhood in
the future, according to plans for the development.

Plans include the construction of apartments for around 7,000 people.
An elementary school for 600 pupils and two daycare centers are also
to be built.

A total of ?4.5 billion ($4.8 billion) is to be invested in the area
in the coming years, ?750 million of which will come from Siemens.

Transport connections to Berlin's city centre are considered crucial
to the planned revitalization of the Siemensstadt area.

German state-owned railway Deutsche Bahn is aiming to re-open a
long-shuttered railway line to the Siemensstadt area by the end of
2029.


Copyright dpa
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
SIEMENS AG NA O.N. 723610 Frankfurt 173,700 28.06.24 17:31:24 -0,120 -0,07% 173,400 174,240 174,660 173,820

© 2000-2024 DZ BANK AG. Bitte beachten Sie die Nutzungsbedingungen | Impressum
2024 Infront Financial Technology GmbH