Across Germany there’s more than 1 million square meters of planned or part built office space that’s now in insolvency, according to broker Colliers International. That’s the equivalent of about 200 skyscrapers the size of the Gherkin in the City of London.
Speculation as to who would pick up the pieces was rife on the Boulevard de la Croisette. One potential bidder is mulling an offer for the part-built Elbtower in Hamburg predicated on a strategy of simply selling off the steel.
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