HAMBURG, Germany--(BUSINESS WIRE)--Hamburg is featured prominently as the “European Green Capital 2011” at the world’s biggest real estate trade fair, MIPIM, held in the southern French city of Cannes from 8 to 11 March. The exhibitors from Hamburg are coming to Cannes with sails filled by a booming real estate market.
Increasing sales and turnover rates in the second half of 2010 propelled the office space market to more than 500,000 sqm for the fourth time after 2000, 2007 and 2008, and transaction volume totalled approximately EUR 2 billion, the third-best result ever. Likewise, the industrial real estate market made one of its strongest showings in recent memory, growing by 69.5% from 360,000 sqm to 610,000 sqm. Hamburg Business Development Corporation (HWF) Managing Director Uwe Jens Neumann: “Hamburg’s commercial property market will keep its momentum through 2011, and we are ready to whet international investors’ appetites even more. The opportunities for the real estate industry that the European Green Capital has to offer by engaging in sustainable urban development are immense.”
The European Green Capital 2011, the Hanseatic city today is a pioneer of sustainable urban development. Hamburg has redefined standards and is set to engage in an active exchange with other urban centres in Europe to promote sustainable architecture and construction. The innovative visions are being put into practice throughout the city, with a number of model projects well under way. They include carbon neutral residential quarters, zero-energy and passive houses, a low-carbon heat supply for the eastern part of HafenCity Hamburg, as well as the “Energy-Bunker” – a former flak bunker being converted into a renewable energy-power-plant. Many of these projects are part of the International Building Exhibition 2013 (IBA) and predominantly implemented on city-owned land.
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