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Hamburg Moves to Buy Half of Elbtower for €595 Million to House Naturkundemuseum

The proposal awaits parliamentary sign-off before construction can restart.

Overview

  • City officials say the revised design shortens the tower to 199 meters with the architect David Chipperfield’s approval.
  • Hamburg would acquire roughly 46,000 square meters across the lower twelve floors to host the Naturkundemuseum’s collections, laboratories and the Leibniz Institute offices.
  • Finance Senator Andreas Dressel frames the €595 million as a fixed global price funded by loans and a special infrastructure vehicle, arguing it is about €230 million cheaper than a new build and could open around late 2029.
  • An investor group led by Dieter Becken remains in exclusive talks with insolvency administrator Torsten Martini and plans to restart work next year if the deal and legislative approval come through.
  • Opposition parties accuse Mayor Peter Tschentscher of breaking a no-public-money pledge, while the Senat says the city assumes no entrepreneurial risk and will pay only upon delivery of the museum space.