PORR AG Commences Construction on Bavaria Towers in Munich
Construction firm PORR AG has signed an agreement to build the Bavaria Towers in Munich. The project has an estimated investment value of 160 million euros.
Austrian construction company PORR AG has commenced a significant construction project in Munich, Germany. The company has signed an agreement to build the Blue Tower and White Tower, part of the Bavaria Towers complex. The estimated investment value for these structures is 160 million euros.
The Bavaria Towers complex will ultimately comprise four towers, situated in a strategic location within Munich. The design for the complex was created by the Madrid-based architectural duo Nieto Sobejano Arquitectos. Upon completion, the buildings are expected to offer panoramic views of Munich and the Alps.
Construction is scheduled to begin with demolition works on June 15, 2015, with an estimated duration of 38 months. PORR will manage various aspects of the project through its subsidiaries, including design (PORR Design & Engineering), environmental engineering (PORR Environmental Engineering), and specialized foundation work (Stump Spezialtiefbau).
This project represents a substantial undertaking for PORR AG's German subsidiary. The collaboration between Von der Heyden Group and PORR on this development follows over six months of negotiations. The marketing and development of the project are reportedly progressing as anticipated.