Hamburg's Elbtower Project Moves Closer to Revival with New Investor Deal

Developer Dieter Becken enters exclusive negotiations to acquire and complete the halted skyscraper within three years.

The Elbtower, planned as Germany's third-tallest building at 245 meters, has been stalled since October 2023 due to the insolvency of its original developer, Signa Prime Selection AG.
Hamburg-based real estate entrepreneur Dieter Becken has signed an exclusivity agreement with the project's insolvency administrator, Torsten Martini, to negotiate the tower's acquisition.
Becken plans to complete the structure, which includes offices, retail spaces, a hotel, and public amenities, within three years, with full occupancy projected within four years.
The Hamburg Senate has expressed support for Becken's proposal, which includes incorporating a Leibniz Association natural history museum in the building's lower floors.
Originally designed by British architect David Chipperfield, the Elbtower's completion is expected to rely entirely on private investment, with no public financial risk involved.