US tycoon Donald Trump has picked Stuttgart for the first Trump Tower outside the US. Last month TD Trump Deutschland signed a contract to buy a 6,000m2 site.
The 90,000m2 Trump Tower Stuttgart will be a 50-storey building around 200m high. Trump claims it will become an architectural highlight of the southern German city. Construction of the €253m (DM500m) project is expected to start next year and will take nearly three years.
Hans Ulrich Gruber, CEO of TD Trump Deutschland, said Stuttgart was chosen due to its “economic power and positive investment climate”. Similar projects are being discussed in Berlin and Frankfurt.
Trump Deutschland paid the City of Stuttgart €7m (DM14m) for the site. The mixed scheme will provide office and residential accommodation and there will be a hotel and shopping centre. Office tenants will also have a range of services.
An architectural jury will decide this month on proposals put forward by shortlisted architects Helmut Jahn, Chicago, and Peter P Schweger, Hamburg.
TD Trump Deutschland AG is a joint venture of The Trump Organization, New York, and Marseille Kliniken, Hamburg, each holding 50% of the €4m (DM7.8m) share capital.
Trump Deutschland has identified two main business opportunities in Germany: the development of high-rise buildings, and the management of sheltered housing and hospitals. Marseille Kliniken is a public-listed company which specialises in the latter.
