Continental HQ project – twice as expensive as first announced?

When Continental AG set out its plans for building a new headquarters in Hannover, Germany, it talked about a project that would “reach into the high double-digit million-euro range.” One German newspaper writes that the tyre and automotive systems manufacturer is now looking at a bill more than twice this amount.

The Hannoversche Allgemeine Zeitung (HAZ) reported on Saturday that the new head office will “apparently be significantly more expensive than planned.” According to information it has seen, the publication believes that Continental is now counting upon construction costs of some 200 million euros.

A Continental spokesperson said on Friday that the company is currently in the preliminary planning stage for its new headquarters. While Continental has yet to announce a final cost estimate, the spokesperson stated: “At present we expect construction costs in the low triple-digit region.”

HAZ states that sources close to the company attribute the higher cost estimate to changes made to the planned building structure. The approved design concept calls for construction on both sides of the Hans Böckler Allee in Hannover, with a footbridge connecting the buildings. Three buildings will be erected on the northern side of the road and four on the southern side.