There will be no more construction work on the Elbtower in Hamburg. The Lupp Group, which was responsible for the shell construction, confirmed this to the “Hamburger Abendblatt”.
Nothing is currently being done at Germany’s largest construction site. Work on billionaire Benko’s prestige project is at a standstill.
The reason according to “BILD”: Benko or his Signa group are no longer allowed to make payments. The 46-year-old’s fortune was recently estimated at 5.4 billion euros by the renowned business magazine ‘Forbes’.
The object is expected to be about 245 meters high – of which ‘only’ 100 meters has been reached.
The mega project is expected to cost huge amounts of money. We’re talking about 25 million – per month!
Readers of ‘Krone’ know that there were increasing indications of payment problems before the construction freeze…
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
