According to a report in the “Tagesspiegel”, the real estate group Signa, which is struggling with problems, has stopped all construction projects in Berlin.
These include the Karstadt locations on Hermannplatz and in Wedding as well as the “Glance” project on Franklinstrasse (Charlottenburg). The “Tagesspiegel” referred to “corporate circles” in its report on Wednesday. There was no confirmation from Signa.
According to the newspaper report, new building projects on Schönhauser Allee, the brake factory on Ostkreuz, the Femina Palast on Nürnberger Straße, the Ku’damm 231 high-rise project on the Karstadt property in Charlottenburg and the Tauentzienstraße 20 project are also affected by the construction stop.
Signa announced on Wednesday in Vienna that founder René Benko was withdrawing from leadership of the troubled group. Similar to other companies in the real estate industry, Signa is struggling with increased interest rates and higher material costs. (dpa)