Maltese company invests €154 million in Munich development project

The Valletta-based Von der Heyden Group is investing €154 million in the Bavaria Towers, a €380 million development consisting of three office towers and a hotel tower that will redefine the skyline of Munich. Described as one of the most spectacular developments in the recent history of this German city, the building will make an impressive visual statement on the main access to Munich’s eastern district of Bogenhausen. The building shells for all four towers will be finished before the end of the year, while completion of the entire project is currently planned for the third quarter of 2018.

The Von der Heyden Group also owns the IBB Hotel Collection which operates hotels in Spain, Malta, Germany and Poland. Last April, IBB announced the restoration and renovation of Senglea’s iconic Maċina Bastion to become the first exclusive Cugó Gran hotel in Malta, opening in mid-summer 2017. IBB Pjazza Merkanti in Valletta will be their second hotel in Malta when it opens its doors in January 2018. Last week, the hotel chain opened its 11th and 12th IBB Hotels in Ingelheim and Paderborn.

The Munich project consists of three office towers with a total floor space of 62,000 sqm of tenanted areas and a hotel tower leased by H-Hotels‘ new premium brand Hyperion to open in October 2018. The hotel occupies the 54 metre high White Tower, of which 14 of its 15 floors are already completed, and will become one of Munich‘s premier destinations for business travellers as it benefits from its direct proximity to the Munich exhibition centre. Services geared towards business travellers, such as valet parking, business lounges featuring dedicated checkin and concierge services are among the many highlights offered by this new hotel with its 345 guest rooms.

The profile of Munich‘s new architectural highlight also includes office space starting at 250 sqm to accommodate single offices or open plan layouts as well as a pioneering sustainability concept. Two underground car parks offer 960 car spaces. The towers will hold the prestigious LEED Gold or DGNB Gold sustainability certifications. The project is the brainchild of development company Bayern Projekt GmbH, who have teamed up with the investment partners Von der Heyden Group and Zurich Group Germany to bring this exciting new development to life.

Mr Sven von der Heyden, Chairman of the Von der Heyden Group, said: “The laying of the foundation stone kickstarts one of Munich‘s most important development projects. The Bavaria Towers will be making an important contribution to contemporary urban planning as they create an architectural highlight that will make the residents of Munich proud of their city and at the same time will make the quality and standards of tomorrow available to be enjoyed by its occupiers today.”

The symbolic foundation stone was placed in the centre of the development among the well progressed highrise towers, in order to ensure its visibility for future occupiers and visitors. The highlight of the festive event, attended by Munich‘s Deputy Mayor Josef Schmid, the Head of the Urban Planning and Construction Authority, Prof. Dr. Elisabeth Merk, and over 200 guests, was ‘the landing of a Martian’, who handed over a time capsule holding plans, daily newspapers and coins that were immured into the foundation stone.

The IBB portfolio includes business and resort hotels in the three-, fourand five-star category. Providing leasing, management and franchise contracts and investing in attractive operator free properties, the hotel company has ambitious growth plans, focusing on the countries where it is already active.