GIEAG makes further progress with its commercial real estate project Gerlingen Work in Stuttgart
GIEAG Immobilien AG (GIEA) has reached a further milestone in its key project “Gerlingen Work” near Stuttgart and has received full planning permission. This means that GIEAG is making pleasing progress with this project, which has a total volume in the significant double-digit million euro range. Completion is scheduled in two stages: The first section of construction is set to be completed in the third quarter of 2019 and the second to be concluded in the first quarter of 2020. GIEAG already received partial planning permission in 2018 and was then able to start with the earthworks, which are going on schedule.
Located just 20 minutes from Stuttgart city centre, GIEAG is developing and building a state-of-the-art, five-storey office building on this site of around 12,500 m2. The building offers gross floor space of approx. 30,000 m2. Ed. Züblin AG, a member of the STRABAG Group and headquartered in Stuttgart, was mandated with the earthworks and shell construction for this project.
“We are very pleased with the progress we are making with our new project in Gerlingen and believe that we are still on schedule for completing the building work step by step through to 2020. We are also implementing the high demands that we place on the construction of state-of-the-art office properties with top quality in terms of their location and also their architectural and technical fittings as part of this project. Our concept is well received, as is also shown by the quality and quantity of the rental enquiries, explained Thomas Männel, a member of GIEAG’s managing board.