DÜSSELDORF’S KÖ-BOGEN GETS GO-AHEAD FOR PROJECT OF THE CENTURY

Libeskind-Designed Office and Retail Center Secures Funding for 2010

Düsseldorf, Germany (June 26, 2009) – Kö-Bogen, a dynamic new office and retail complex for downtown Düsseldorf, officially secured funding today for construction to begin in early 2010. Designed by famed architect Daniel Libeskind, Kö-Bogen will provide  4,000,000 sq. ft. of new built environment replacing a current traffic hub at the Hofgarten, Düsseldorf's historical central park.  German developer, “Die Developer,” through its two fully-owned subsidiaries, made official deposits of 120 Million EUR to the 300 Million EUR project.

The Mayor of Düsseldorf, Dirk Elbers, announced today: “I am excited that this project of the century will be built.  Once it is completed, the habitants of Düsseldorf will be as proud of it as they are of the Rhine Promenade.  Kö-Bogen expresses the strength of Düsseldorf.  The investors believe in Düsseldorf.   Engaging in such a project in a time of crisis proves their confidence in this location.”

Studio Daniel Libeskind and “Die Developer” have also expressed their excitement about the city’s decision, especially as so many projects throughout the world are experiencing economic setbacks.  The project, situated at the north end of Königsallee, Düsseldorfs main boulevard, will comprise of two city blocks with one continuous roof line, creating a city edge towards the Hofgarten and shaping a new pedestrian space at historical Schadowplatz.

Dr. Gregor Bonin, head of the department of city planning commented: “Düsseldorf gets  an architectural highlight.  It is wonderful that after 6 years of planning we can redesign this part of the city center. With the Kö-Bogen project we set a benchmark for city master planning in Düsseldorf.”

The project will form a cap stone at the end of the Königsallee. 26 meters high, it will complement the existing buildings along Königsallee. It will be innovative and economical at the same time including a  biogas co-generator and  use of solar energy allowing maximum energy efficiency. Beginning of construction is planned in the first quarter of 2010. The opening of the iconic project is planned for end of 2013.

For more information about this exciting project, please visit Die Developer’s website or visit daniel-libeskind.com.

CONTACT:     Studio Daniel Libeskind: 
                     Alex Rabe, Press Coordinator
                     T: (212) 497-9154
                     PublicRelations@daniel-libeskind.com