Potential Acquisition for Halted Hamburg Skyscraper

Maddl79, CC BY-SA 4.0

27 November 2023 | Hamburg, Germany

German logistics entrepreneur Klaus-Michael Kuehne is exploring the possibility of acquiring the 57-story Elbtower high-rise project. On 7 November, CTBUH reported that the Elbtower came to a sudden stop after it has been reported in Reuters that the developer stopped making payments to the builder.

Discussions regarding Kuehne's potential takeover have progressed, but a final decision has not been reached according to German newspaper Handelsblatt.

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Kuehne holds the majority ownership of the transport group Kuehne und Nagel and has a stake in the German airline Lufthansa and shipping firm Hapag Lloyd.