Zurich: Foundation stone laid for The Circle
Flughafen Zürich AG and Swiss Life AG celebrated the laying of the foundation stone for their major joint project The Circle on March 24, 2017. In the immediate vicinity of Zurich Airport, 180,000 square meters are being created for various uses - from office space and two hotels to art, culture and a convention center - according to designs by Japanese architect Riken Yamamoto.
The foundation stone was laid under the future main square of The Circle project in the presence of numerous guests from politics and business. "We are not simply adding another building to Zurich Airport, but strengthening it as a destination in its own right," said Andreas Schmid, Chairman of the Board of Directors of Flughafen Zürich AG. The Circle is being built "at Switzerland's best-connected location," he added.
The investment costs for the construction project amount to around CHF 1 billion. Flughafen Zürich AG and Swiss Life AG are forming a joint owners' association for this purpose, in which they hold 51 and 49 percent respectively. The realization partner for this major project is HRS Real Estate AG. Completion of The Circle is scheduled for the end of 2019.
Office space will be created, two hotels of the Hyatt Group plus Convention Centre, a medical competence center of the University Hospital Zurich, Different brand worlds with retail and showroom areas as well as space for art, culture, gastronomy and education. The occupancy rate for the project, which is to provide 6,500 jobs at some point, is currently around 55 percent, according to those responsible. Talks with another office tenant for about 4,000 sq. m. are to be finalized soon, they say.
