PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
ECB seen facing tough issues on new Frankfurt premises
Whether and when the European Central Bank goes ahead with its move to new premises in the east of Frankfurt, the site of the former regional wholesale grocery market, remains an open question, especially amid the economic crisis, say senior Frankfurt realtors. Oliver Barth and Oliver Obert, managing directors of realtor BNP Paribas Real Estate, formerly Atisreal, said pre-selection of contractors has re-started after the ECB rejected spiralling development costs on the original plans that had exceeded e1bn. The new project invitations to tender are not scheduled to be issued to contractors before December, and whether the original timeline of a move by 2014 or the new budget ceiling of e500m can be maintained remains to be seen.