Zurich: UBS fund invests 40 million in residential project
The UBS real estate fund Sima is planning a replacement building in Zurich with three structures in timber construction. The residential property will have a total of 81 apartments.
The complex is located on Anna-Heer-Strasse in district 6. The buildings will be SGNI Gold certified and the landscaping will receive a Biodiversity Plus certificate from the Nature and Economy Foundation. The heating system and hot water will be powered by 100% renewable energy using geothermal probes, heat pump and photovoltaic system on the roof.
Construction is scheduled to start in the third quarter and the investment sum amounts to around CHF 40 million. According to fund documents, rental income after completion will amount to CHF 2.7 million per annum. (aw)
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