Munich, 21 December 2021 – ZAR Real Estate Holding continues its investment course. The Munich real estate company expands its portfolio with its first project in the Ruhr area. An ageing industrial site in Duisburg is due to be transformed into a lively district that satisfies sustainability criteria.
The plot of just under 100,000 square metres is the former location of the ALGA company in the Wanheimer Strasse. Current plans for the site in the immediate vicinity of the Rhine envisage the development of a mixed-use urban district of primarily residential character. The concept of the new neighbourhood fits in well with the International Horticultural Exhibition (IGA), which is set to take place in Duisburg in 2027.
“Our wish is for this project to make a significant contribution to developing the Duisburg location, including the creation of attractive housing,” says Daniel Argyrakis, CFO and managing director of ZAR Real Estate Holding. In the last decade, several companies in the fields of logistics, haulage, and the motor vehicle industry-maintained offices, warehouses and workshops on the site of the former Duisburg Kabelwerk. There are also several disused halls and abandoned industrial premises on the site.
“The exciting thing about this project is that no further land requires sealing, so we can make use of the existing infrastructure and return some sense of urbanity and quality of life to the city through this district development. This fits in perfectly with our aspiration to develop sustainable real estate projects that present added value for municipalities,” explains Martin Hofmann, CDO and managing director of ZAR Real Estate Holding. Already in the planning stages, the project pursues a climate-neutral approach. This is reflected, for example, in the innovative energy concept and use of climate-neutral building materials. The next major step for the site will be an urban development competition with renowned international and local architecture firms, to be held in spring 2022.