ZAR Real Estate Holding brings prizeotel to Berlin

The development of the CBS project in Berlin-Prenzlauer Berg continues to take shape. ZAR Real Estate Holding has concluded a long-term lease contract with the designer hotel brand prizeotel for the building of a hotel with 284 rooms.

The construction of a modern mixed-use building in a fashionable neighbourhood of the capital is set to commence in the first half of 2020, including—in addition to the hotel—a small proportion of retail spaces and parking spaces for cars. It is due for completion in 2022.Managing Director of ZAR Real Estate Holding, Felix Schallmeyer, is delighted to have found the perfect partner for the new premises: “The unconventional and colourful design of the prizeotel hotels by star designer Karim Rashid fits in perfectly with our new project in Prenzlauer Berg. With CBS, ZAR Real Estate Holding once again demonstrates that it is a true expert in developing innovative hotel properties.“

prizeotel currently has hotels in Hamburg, Bremen and Hannover. The new location of Berlin is part of a major expansion, with 16 new hotels to be opened in Germany, Belgium, Austria and Switzerland over the next two years. The hotel group intends to continue consistently developing its brand.