Siemens commits €600 million to Berlin ‘Siemensstadt 2.0’ project

German tech giant Siemens is making its largest ever investment in Berlin after announcing plans to build a ‘Siemens City’ on a 70-hectare expanse of industrial space.

Costing €600 million, Siemensstadt 2.0 aims to transform the area into a modern, urban district of the future for a diverse range of working and living purposes.

The site will also house centres of research and expertise, startup incubators and research and scientific institutes as well as their partner companies.

Joe Kaeser, President and CEO of Siemens, commented: “Megatrends like industrialisation and urbanisation will usher in fundamental changes. Working, learning and residential living will be more integrated, and increasing connectivity among people and things will create new ecosystems.”