The DIC Group is one of the leading investors in the German market for commercial real estate

Press Release

DIC: Building construction launch for the MainTor district

Frankfurt, 29.08.2012

• Laying of the foundation stone “MainTor Porta”
  
• Official commencement of the new buildings
  

Today, DIC is officially starting the construction of the new buildings in the MainTor district: the occasion is the laying of the foundation stone for the “MainTor Porta” building complex. Three prominent and distinguished guests will be present at the event, which will also be attended by around 300 representatives from the political, economic, cultural and societal spheres:

• Olaf Cunitz (mayor and head of city planning for the city of Frankfurt)
• Joachim Reinke (CEO of Union Investment, which will be renting around 14,000 sqm in “MainTor Porta” from 2014 onwards)
• Jürgen Engel (the architect responsible for “MainTor Porta” and for the master plan for the MainTor district)
  
• Landlord Ulrich Höller (CEO of DIC): “This laying of the foundation stone is a key milestone for the emergence of the MainTor district. Over 50 percent of the MainTor district has already been marketed and is now in the process of being implemented. The development is therefore progressing faster than originally planned. We are now launching the building construction phase.”
  

About “MainTor Porta”
The “MainTor Porta” office buildings are in a prominent corner location with a forecourt on Weißfrauenstraße, and therefore both Hotel Frankfurter Hof and the intersection of metro lines at Willy-Brandt-Platz are easily accessible. The commercial rental space, amounting to some 20,500 sqm, is spread across the 19 floors of the 70-metre-high building and includes around 170 parking spaces. Porta distinguishes itself with a representative three-storey lobby, a green and accessible inner courtyard and several roof terraces with spectacular views. DIC has already rented around 14,000 sqm (around 70 percent of the entire rental space) to Union Asset Management Holding AG (Union Investment). This was one of the largest new letting contracts of the year in Frankfurt city centre. “MainTor Porta” integrates seamlessly into Frankfurt's banking district with its location and design, which is connected to the bank centre with short distances and rapid communication for the local tenants from the financial industry. Responsibility for providing project financing of some EUR 110 million is being shared equally by Deutsche Hypothekenbank (lead manager) and DG HYP. The building will be completed by the end of 2013. It is aimed that the building will be granted a gold certificate by the German Sustainable Building Council (DGNB). 

Technical details about “MainTor Porta”

• 21,000 m³ of concrete will be used (this is the equivalent of 10 swimming pools of 50 m in length and 20 m in width)
  
• 3,300 tonnes of steel will be used
  
• 2 m thick floor panels will be concreted
  
• The building rests on 37 primary piles (diameter 1.50 m, which were drilled approximately 20 m underground)
  
• 500 km of cable is required (roughly the distance from Frankfurt to Berlin)
  
• 200 construction workers working on the building site at peak times
  

Andreas Pohl, Member of the Board of Deutsche Hypo: “The MainTor district is not only adding architectural value to the area between the banking quarter and the Main, it is also sending out clear signals as far as sustainability is concerned, thus enhancing Frankfurt city centre. We are delighted to be able to support our business partner DIC with this unique development.”

Dr. Georg Reutter, Management Board Spokesman for DG HYP: “Co-financing the ‘MainTor Porta’ office building together with Deutsche Hypothekenbank represents a major step towards developing this area, with the former Degussa site having been closed to the public for decades. We are also pleased that Union Investment, one of DG HYP’s key partners in the cooperative banking sector, will be the new building’s anchor tenant.”

Additional construction stages of the MainTor district include:
The “MainTor Primus” building already sold before start of construction in June 2011 is currently being completely gutted and fully modernised with a new facade and new building services in accordance with the DNGB’s highest sustainability standards. The office property will be completed by mid-2013; DIC will move into their new headquarters there. The Primus building is located at Neue Mainzer Strasse 20 and therefore has good transport links, being close to the important intersection of metro lines at Willy-Brandt-Platz. The commercial rental space, which comes to just under 5,500 sqm, is spread across the twelve floors of the 46-metre-high building. Primus features an arcade, as well as a roof terrace with a unique view of the old town and skyline.

The “MainTor Panorama” office property contains 13,500 sqm of commercial space with 70 underground parking spaces. The architecture is illustrated by the Professor Christoph Mäckler Architekten office. Construction work is scheduled to start in the first half of 2013. By mid-2015, the Panorama building will have been constructed by DIC and will be ready for occupation.

The “MainTor Patio”, which is located on the MainTor district plaza, comprises total space of around 8,000 sqm and some 130 underground parking spaces, offering around 6,000 sqm of rental space. Around 5,200 sqm of residential space has been allocated for over 90 rented apartments. There are some 800 sqm of additional lettable commercial space for restaurants, sport and leisure facilities, and  a children’s daycare centre, thereby creating a comfortable supply infrastructure for the residents of the entire MainTor district. The architects responsible are KSP Jürgen Engel Architekten. The patio complex is set to be constructed by DIC and to be ready for occupation by the end of 2014.

The marketing of some 80 condominiums at the “MainTor Palazzi” offering a total of 13,000 sqm of total space to owner-occupiers and investors is currently being prepared, with the launch planned for early 2013 at the latest. Construction of these residential complexes located on the banks of the Main is to start in summer 2013.

“WinX”, the high-rise complex located on Neue Mainzer Strasse  constitutes the centre of the MainTor district and, together with the entrance buildings, offers around 35,000 sqm of commercial space (with around 250 underground parking spaces), which is spread across 36 floors. Marketing the WinX will become a key focus from the second half of 2013.

About the MainTor – the Riverside Financial District
With the “MainTor District” project, the DIC Group is redesigning the area of Frankfurt between Untermainkai und Weissfrauenstrasse. This will not only involve the redevelopment of the once closed Degussa factory premises, but it will also become a public space once again, which will revive the historical links between the city centre and the riverside, and will become firmly integrated in the surrounding urban district with paths and streets. The new building will take place in several building projects which are to be completed temporally and spatially independently of each other; the flexibility gained through this makes it possible to bring the individual requirements of various user and investor groups into play. The area will be known as the Riverside Financial District: the MainTor project will enhance the part of Frankfurt's banking quarter that lies alongside the Main, from both an architectural and an urban planning perspective. Implementation of subsequent construction stages will be subject to the terms of the future rental and marketing agreements. The entire MainTor district is set to be put into operation by 2015/2016.

The most significant chronological dates

• 2005: DIC acquires the former Degussa site
  
• 2007: Creation of the master plan for the MainTor district (responsible: KSP Jürgen Engel architects)
  
• From September 2009: Determining the architects to design the high-rise buildings
  
• 30 September 2009: Launching the expert opinion process for the design of the central towers
  
• 11 December 2009: Drafts selected for MainTor towers WinX (Engel) and Panorama (Mäckler)
  
• 2010: Final development plan completed
  
• January 2011: Moving out of Evonik (previously Degussa)
  
• June – October 2011: Anniversary exhibition of the MMK Museum of Modern Art in Frankfurt with over 100,000 visitors
  
• June 2011: Sale of the Primus building complex to Professor Carlo Giersch. Primus becomes the future headquarters of the DIC Group.
  
• August 2011: Start of demolition works
  
• November 2011: Beginning of construction works on MainTor Primus
  
• January 2012: 14,000 sqm major rental to Union Investment
  
• July 2012: MainTor Panorama and MainTor Patio sold to the Ärzteversorgung Westfalen-Lippe for EUR 150 million
  
• 29 August 2012: Laying of the foundation stone of MainTor Porta

About DIC
DIC (Deutsche Immobilien Chancen), active throughout Germany and based in Frankfurt, was founded in 1998 and, with its innovative investment philosophy and its focus on the German market, is one of the most prominent and successful firms in Germany specialising in commercial real estate transactions. Its business activities include portfolio and asset management, which are handled by its SDAX-listed company, DIC Asset AG, as well as project development and joint-venture investments. It currently holds approximately 40 per cent of DIC Asset AG. The real estate assets managed by the DIC Group currently amount to around EUR 3.3 billion. Its shareholders are investment companies, several insurance companies, international investors and family offices.

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