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Hamburg Sets Oct. 31 Decision Deadline for Stalled Elbtower

A museum tenancy under review could provide the anchor needed for private financing.

Overview

  • A Becken-led group including Klaus-Michael Kühne remains in exclusive negotiations with insolvency administrator Torsten Martini to acquire and complete the tower.
  • The administrator has given the consortium until the end of October to reach terms, with the state parliament expected to take up the decision.
  • The city is evaluating placing a Leibniz natural history museum in the base floors, exploring rent versus partial purchase options reportedly costing about €500 million over 20 years or roughly €200 million respectively.
  • Structural assessments are underway because some exhibits would weigh multiple tons, and city leaders have ruled out direct public funding of construction.
  • Becken says work could restart in spring 2026 with opening around 2030 if negotiations conclude this year and the parliament approves, after construction was halted in October 2023 when Signa stopped payments.