Release date: 13 November 2001
Promoter – Financial Intermediary
The Freie Hansestadt Hamburg, represented by Gesellschaft für Hafen- und Standortentwicklung m.b.H.Location
Description
Approx. 100 ha of former harbour area (155 ha including water surfaces) will be regenerated south of Hamburg's city centre. Over a period of up to 25 years the city centre will be extended by approx. 40% with a new district offering a metropolitan mix of housing, culture, leisure, tourism, trade and commerce. The project offers the unique opportunity to participate in the development of the extension of the city centre in a distinctive, maritime milieu and to build housing as well as offices on the former harbour quaysides of Sandtor-, Grasbrook and Baakenhafen. The EIB project concerns infrastructure investments of the first phase only in the HafenCity.
Objectives
The project is targeting a continuous and long-term increase in value providing stabilizing effects for the urban economy and community.
Sector(s)
Proposed EIB finance (Approximate amount)
up to EUR 300 million
Total cost (Approximate amount)
EUR 1.2 billion. (for the first phase)
Environmental aspects
EU Directives are fully embedded into Federal German Law and the relevant requirements of 97/11/EC Annexes II and III are being followed. There are no issues concerning protected flora and fauna.
Procurement
Procurement procedures applied in the programme are in compliance with EEC Council Directives and national legislation, applicable to public authorities procurement.
Status
Signed - 13/12/2002
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).