immo!nvest – Die Plattform für Standorte und Immobilien

Author: immovestuser

  • The canton of Zurich and SBB are planning bike and bus projects together

    The canton of Zurich and SBB are planning bike and bus projects together

    The Canton of Zurich wants to work more closely with SBB on upcoming projects. According to a cantonal press release , both partners want to use synergies and save costs. For the canton of Zurich it has been shown that it makes sense to integrate the three cantonal projects to expand the bike and bus network into the major Brüttenertunnel project and to work on these projects together with the SBB.

    "The Brüttenertunnel project offers the opportunity to hand in hand the most extensive bike project to date in the Canton of Zurich and to expand public transport in the Glattal region," said Economics Director Carmen Walker Späh as quoted in the press release. According to the overall traffic concept of the Canton of Zurich, the share of bicycle traffic in the total traffic volume is to be increased continuously to 8 percent by 2030.

    The government council has therefore applied for a property loan of CHF 73.1 million from the cantonal council. The aim is to realize the pilot project of a fast bike route from Zurich-Oerlikon via Wallisellen and Dübendorf to the Zurich Oberland "barrier-free, coherent, safe and comfortable".

    A main bicycle connection from the Im Lampitzäckern quarter in Dietlikon along the SBB route in the direction of Baltenswil, a main bicycle connection, is intended as a feeder to this rapid cycle route. It is also part of this synergy project. With the redesign of Bahnhofstrasse, the cycle route in Dietlikon and Wangen-Brüttisellen is to be continuously expanded to become the main connection and the network gap in the direction of Baltenswil is to be closed.

    Finally, in the course of the construction work on the Brüttener Tunnel, the Baltensilerstrasse underpass in Bassersdorf will be removed. In addition, the canton is planning a bus lane in order to be able to prefer the bus service from Baltenswil to Bassersdorf train station.

    The planning approval process for the Brüttener Tunnel and the three accompanying projects will run from 2023 to 2025. The accompanying projects will be handed over to the public in stages before the tunnel is due to go into operation at the end of 2034 at the earliest.

  • The renovation rate for buildings is still too low

    The renovation rate for buildings is still too low

    In 2019, the federal and cantonal building program paid out around CHF 265 million in subsidies, a quarter more than in the previous year. This emerges from the 2019 annual report of the building program. This program is an important pillar of Swiss energy and climate policy. It is based on Article 34 of the CO2 Act .

    According to a press release from the building program, applicants received a total of around CHF 265 million in funding in 2019 (2018: CHF 211 million). Most of the funding last year went to thermal insulation projects with CHF 133 million. The greatest growth was recorded in subsidies for system renovations; they rose by 70 percent to 60 million francs. Solar and ventilation systems were funded with 35 million francs. 4,100 fossil fuel systems have been replaced with renewable energy heating systems, most commonly a heat pump.

    According to the announcement, the measures implemented in 2019 thanks to subsidies will save 5.4 billion kilowatt hours of electricity and 1.2 million tons of CO2 over their entire service life. But the renovation rate is too low to achieve the Swiss energy and climate targets for buildings. In order to offer a greater incentive, higher funding rates have been granted since 2019. This has reduced the effect achieved: While in 2018 159 francs were used per ton of CO2 saved, it was 205 francs in 2019. The increase in the more cost-intensive system renovations also reduced the effect per Swiss franc granted.

    The employment effect of the building program is positive: it is 2100 full-time equivalents and around 82 million francs of additional domestic added value.

  • André Ingold is the new president of the airport region

    André Ingold is the new president of the airport region

    180 representatives of members of the business network took part in the eighth general assembly of the FRZ on September 15 in Dübendorf, the FRZ informed in a message . The FRZ currently includes 644 companies, twelve cities and municipalities, and 19 associations and associations from the region. At the end of the 2019 financial year, the business network had just under 640 members.

    At this year's General Assembly, President René Huber resigned from his position, is further explained in the announcement. Huber (SVP), who has been mayor of Kloten since 2006, was “significantly involved in the creation” of the FRZ in 2011, it continues. With his resignation, the outgoing president wants to initiate a "staggered renewal of the management structures" of the business network. In recognition of his services to the FRZ, Huber was appointed the first honorary president of the FRZ by the general assembly.

    The board of the FRZ had proposed the incumbent mayor of Dübendorf, André Ingold (SVP), as the successor to Huber. The participants in the General Assembly unanimously followed this proposal, writes the FRZ. Jan Schibli from the Schibli Group and the mayor of Dietlikon, Edith Zuber (SVP), were also newly elected to the board.

  • Altendorf relies on innovative lighting

    Altendorf relies on innovative lighting

    An innovative light control in the municipality of Altendorf measures the number of vehicles and adapts the light to the traffic. It consumes less energy and reduces the light level to the necessary minimum. According to a press release , Altendorf is “the first municipality to show how an intelligent system can be implemented easily and inexpensively”. The canton of Schwyz decided in mid-August to support the communities financially in the retrofitting.

    Altendorf began converting to LED lights in 2010. For the renovation phase that has now begun, the municipality decided in favor of the traffic-dependent light control TrafficDim from the company Elektron from Wädenswil ZH. The system "is one of the most efficient lighting controls available on the market," says the press release.

    With the traffic data recorded on site, the lights are controlled as required via a light management system, "without any restrictions on safety". The changes are gentle and hardly noticeable. "We didn't want any nervous lighting, no constant ups and downs of the light," Markus Weber, the head of the local civil engineering office, is quoted as saying.

    To have around 60 of these lights installed by Elektrizitätsversorgung Altendorf AG ( EVA ) is “the order of the day,” says Erich Keller, councilor for civil engineering and works. “Altendorf wants to become an energy city. This also includes reducing the energy consumption of street lighting to a minimum. ”The lighting on its main traffic axis, a busy cantonal road, consumes around 20 percent of the entire street lighting infrastructure. That is why it offers "the ideal prerequisites for the use of innovative lighting control".

    The municipality "Altendorf did everything right when it came to renovating its public lighting", says the smart city expert and CEO of Elektron, Enrico Baumann. “It started converting to LED at an early stage and has continuously taken into account the technological advances over the past ten years. With the use of TrafficDim, it is taking on a pioneering role throughout Switzerland. "

  • Terra Raetica is to receive the Alpine Railway Cross

    Terra Raetica is to receive the Alpine Railway Cross

    Representatives from Graubünden, South Tyrol, Tyrol and Lombardy have agreed to improve cross-border mobility in the triangle between Switzerland, Austria and Italy, especially by rail. At a meeting in Graun im Vinschgau, they signed a letter of intent to this effect, according to a press release from the Canton of Graubünden .

    Accordingly, the four regions want to coordinate their measures to create an integrated mobility system in what is known as the Terra Raetica. With an attractive alpine railway hub and the connection to the international rail network, the transalpine road traffic is to be reduced. This also reduces the environmental impact, "which in turn brings a touristic upgrade with it", it says in the message.

    "Today we are laying the foundation for intensive cooperation and a vision for the future, a rail-alpine cross between Austria, Italy and Switzerland", the Tyrolean governor Günther Platter is quoted as saying. "The mobility of the future needs a courageous approach and this must not stop at national borders." For years, the motto has been "Boundless mobility – and that is car-free", says his deputy and Tyrolean regional traffic councilor Ingrid Felipe.

    According to the Vice President of the Graubünden government, Mario Cavigelli, this agreement will create a valuable platform for exchanging information on needs and measures in public transport across borders. In the interests of the population and the economy, transport chains and transfer options between the various public transport systems in the four neighboring regions could be coordinated “as best as possible”.

    In November, a group of experts will start planning a rail link in the Terra Raetica. It is accompanied by a steering committee made up of government representatives from the four neighboring regions.

  • Built Too Much? The fact that the real estate market no longer absorbs everything is an opportunity.

    Built Too Much? The fact that the real estate market no longer absorbs everything is an opportunity.

    Has too much been built in Switzerland? Maybe too much in the wrong place? It is true that one cannot speak of THE Swiss real estate market, as it is divided into different sub-markets, but the absorption time has generally lengthened, say the seven real estate developers who met in June for the HIG expert discussion. They assume that a basic set of apartments is always needed – just where and which, that is the question. A question that leads to rethinking quality.

    “Quality before quantity” – this phrase was used fifty years ago. But while quality was then associated with luxury, today people think of needs-based, sustainable building. This may be more expensive to create, but it pays off in the long term. The fact that the market no longer absorbs everything is also a gain. After all, everyone benefits from better quality – residents and users as well as creators and investors.

    “Perhaps too much has been built and the result is interchangeable apartment blocks. That is why we are now dealing more intensively with the issue of quality. That is the positive aspect of this development »

    Roland Thoma

    The ABC of the situation – quality over quantity
     Around 75,400 apartments were vacant in Switzerland in 2019 * and the trend is rising. While two or three years ago the sales or letting rate when a property was completed was an average of 95 percent, today it is only 80 to 85 percent. The more peripheral the location, the longer the absorption time. In the urban centers there are up to 1000 inquiries for an apartment, and because the capacities are limited, the demand has to shift. There is also solid demand beyond the centers and A locations, for example for condominiums in the medium and low price segment. On the other hand, the once coveted luxury apartments are also among the slacks in the centers, while rental apartments in the low price segment are absorbed almost everywhere immediately.

    So it's about the right location with a product for the right segment. Nevertheless: "In structurally weaker regions, even in the middle segment, we need longer than two to three years ago," says René Frauenknecht from Steiner AG, for example. “Today we are keeping our hands off places that already have high vacancies and are reluctant to develop in B and C locations”. The risk of doing so is due to the relatively high pressure to acquire: “There are still large pension funds that are very aggressive on the market and secure land. It is very important that the quality of the location comes before quantity. That is new. Up until a few years ago you couldn't go very wrong if you had acquired a plot of land in a bad location, ”says Frauenknecht. “The low interest rates can also lead to wrong decisions, as risks may not be properly assessed. The wrong product in the right position no longer works today, ”adds Tobias Rotermund from Odinga Picenoni Hagen AG.

    The ratings from analysts such as Fahrländer or Wüest Partner are an important basis, say the developers, but these location analyzes have to be verified and interpreted on site in order not to simply repeat what has worked in the past. "Most of the location analyzes are data-based and digital," says Marc Lyon from Implenia Schweiz AG. «If we strictly followed the software's suggestions for our development strategies and product definition, we would always have the same without innovations. We would just make a copy of what has been built up over the past few years. These data-based foundations are indisputably important, but human interpretation is really necessary. We perceive a property in a completely different way and have a completely different reference when we get an idea of the location and not just look at the property via Google Maps and Street View ».

    "If we were to strictly follow the software's suggestions for our development strategies and product definition, there would be no innovation."

    Marc Lyon

    As simple as it is convincing – new concepts
     Once the potential of a place has been determined, it is a matter of developing a future-oriented concept. How can this look?

    Since an automatic price increase is no longer readily accepted by users today, space efficiency is the focus of the developers. It is achieved, for example, through a reduction in space, compact floor plans, prefabricated products, standardized construction processes and the elimination of gadgets. The result doesn't have to be zero-eight-fifteen. "You can achieve good quality even in difficult locations with simple but convincing architecture and inexpensive production with local companies", is Tobias Rotermund's experience. Large balconies are popular and not necessarily expensive, good furnishing makes up for the missing square meters and architecture can be as simple as it is convincing.

    You can also achieve good quality in difficult locations with simple but convincing architecture and inexpensive production »

    Tobias Rotermund

    As far as the variety of apartment typologies is concerned – it is more expensive to build, but it is useful for renting in the long term. Other components that affect the quality of living are accessibility, exterior design, sustainability, mobility and neighborhood. "There are a whole range of options for diversifying rental living and for setting yourself apart on the market," says Valentin Müller from UTO Real Estate Management AG. “These include residential typologies that focus on a specific target group as well as integrated mobility concepts that optimally network the apartments with their surroundings. And not to forget: the quality of the settlement. We are talking here of 'living space', of spaces with a high quality of stay. Concepts are required for this. With a good development, you can create a good micro-location that meets human needs ».

    But what needs does the specific target group have at the specific location? Do people want representative architecture or identify with the place where they live? Do you value neighborly exchange or do you prefer privacy? Do you accept the lush, green outdoor space as compensation for the B or C location? … Who determines what quality is? The architecture elite? The users?

    A central finding in real estate communication is that the involvement of those affected promotes the acceptance and quality of a project. In addition to the quality of the product, the quality of the development process becomes more important.

    “Whether a project is accepted depends not least on the involvement of the population”

    Claudia Siegle

    "The early involvement of the population in the Mattenhof project in Lucerne South has paid off," says Claudia Siegle from Mobimo Management AG. “It is important that people can identify with the place where they live. In this case, this includes the creation of neighborhoods. In the Mattenhof, you don't just live in a residential building, but in a mixed-use area, where you can network with each other using apps, for example ». For Tobias Achermann, former CEO of Zug Estates AG, the dialogue with those affected has also proven its worth: “In the further development of the 'Metalli' district, we have had good experiences with involving the Zug population. Over a thousand people contributed their thoughts and suggestions. I see this procedure as the cornerstone for the further course of a project ».

    Involving the population not only benefits the product and its future users, but also improves political acceptance. For example, the claim that too much is being built appears regularly in the media and is a difficult argument in referendum battles: “The construction industry is often perceived as a driver of growth that is not welcomed everywhere – especially in the peripheral and rural areas people get the impression that building is being done primarily because investors have to invest money and not because it meets a need. Allowing those affected to participate in a project and creating real needs-based justice not only increases the quality, but also the social and political acceptance of a project ”, is the experience of Werner Schaeppi, an expert in construction and real estate communication.

    Innovation versus bureaucracy – problem child on the ground floor
     The development of the industry has meant that not only the real estate projects, but also their creators have to position themselves. For example through innovations such as a CO2-free energy system and building with wood in the “Suurstoffi” in Rotkreuz, which Tobias Achermann mentions as an example. Or through innovative mobility concepts that are developed and implemented by UTO Real Estate Management AG. In general, the company is committed to innovation, says Valentin Müller. This is a mind set that flows into the corporate culture and flows into the development projects. However, new concepts also need staying power, for example running the gauntlet through the density of regulations.

    The number one problem child for the developers is ground floor usage. Bringing ground floors to life with commercial uses is difficult, and this will become even more acute with increasing online trade and changes in the retail sector. The hygiene measures in the context of new viruses such as Covid-19 are also difficult to assess; for example, long-term guidelines such as distance rules would increase the space requirement in the trade. Innovative concepts are required, especially for ground floor uses, but these often fail because of the long-lasting planning instruments. Because if a development plan is ten to fifteen years old, it may no longer meet the current requirements.

    “Why should there be no residential use on the ground floor, for example?” Ask the developers. The fact that commercial ground floor uses per se generate a lot of foot traffic is a romantic notion. Ground floors must be appropriate to the situation and location and match the district infrastructure. “You have to ask yourself whether the development with a ground floor will be more attractive,” summarizes Roland Thoma from the HIG Immobilien Anlage Foundation. "A bookstore is not attractive in terms of returns and has to be cross-subsidized, but it can perhaps offer the neighborhood added value".

    "Innovation is rooted in the corporate culture and flows into the projects"

    Valentin Müller

    Building construction and home office – a look into the crystal ball
     What's next Will the market be saturated twenty, thirty, fifty years from now, and will other investment activities be needed? According to the participants in the HIG expert discussion, there will be a shift in the area of building construction from new buildings to modernization, renovation, extension and conversion. The area of infrastructure will grow with public buildings such as hospitals and railway maintenance etc., and the topic of sustainability will also continue to establish itself. "Today, certain sustainability principles are part of the development of a project," says Tobias Achermann. In addition, age-appropriate building is a major issue: “By 2030, the 65+ age group will increase by 30 percent. As an investor and developer, you are betting on the right card if you position yourself in this segment with appropriate infrastructure and community concepts, ”says Achermann.

    "If you position yourself in the area of age-appropriate building today, you are on the right map as an investor and developer"

    Tobias Achermann

    Opinions differ on the topic of home office. The developers report that the joint creative process suffered enormously during the corona lockdown. For example, study assignments had to be postponed because the architectural offices could not be as productive as usual in the virtual exchange. Other areas, on the other hand, work very well in the home office. They open up the potential for a future in which there may be new forms of work, but at least less commuting. How this potential will be used cannot be foreseen at the moment. On the one hand, many companies are bringing their employees back into their company premises, on the other hand, industries such as the New Economy are driving the home office trend. For the construction of the future, home office would require more space and flexibility of use in the living spaces, which, however, collides with efforts to build cost-effectively by reducing space.

    Back to the ground floor once again: Would co-working spaces be conceivable here, for example, which expand the home office model? Perhaps as part of a sharing economy, or also non-commercially as an extension of the classic common room? Some developers have conceptual thoughts on this, but they stand and fall with whether it will be possible to get the authorities on board. As a developer, waiting for the development is seldom the right attitude. ■

    * Federal Statistical Office FSO, collected on June 1, 2019, www.bfs.admin.ch

  • Epic Suisse wants to join SIX

    Epic Suisse wants to join SIX

    Epic Suisse AG wants to go public in the coming months. By issuing new shares, the company aims to generate gross proceeds of around CHF 200 million, according to a press release .

    Epic Suisse intends to use the net proceeds from the IPO primarily to finance future acquisitions, for ongoing development projects and for general corporate purposes. In addition, debts should be paid off with the fresh money. Last but not least, the IPO is intended to increase public awareness of the company.

    Epic Suisse's portfolio includes 24 properties with a market value of CHF 1.3 billion. The company specializes primarily in office and logistics buildings as well as shopping centers. Most of the properties in his portfolio are located in the Lake Geneva region and in the Greater Zurich Area.

    Since it was founded in 2004, Epic Suisse has been owned by the Israeli Alrov Group and the Greenbaum family. You will not sell any shares as part of the IPO and you want to continue to be involved in the long-term development of the company.

  • New Chinese city should be completely self-sufficient

    New Chinese city should be completely self-sufficient

    The Barcelona-based architectural firm Guallart Architects has won the tender for the planning of the new Chinese city of Xiong'an. It should be resilient and 100 percent self-sufficient. According to the will of the Chinese President, it should become the “new standard for the post-COVID era”.

    According to an article by the Thomson Reuters Foundation , Xiong'an is being conceived as a self-sufficient city that produces its own energy, food and other resources. It will have rooftop farms and greenhouses, drone-friendly terraces and shared 3-D printers. In addition, apartments are planned with space for home offices so that their residents can work from home in the event of future pandemics. The city's eco-friendly design includes blocks of flats made from cross-laminated timber, renewable energy and streets reserved exclusively for pedestrians and cyclists.

    "We can no longer design cities and buildings as if nothing had happened," Vincent Guallart, founder of Guallart Architects and former chief architect of the city of Barcelona, is quoted in the article. “Our proposal arises from the need to find solutions to the different crises that are playing out on our planet at the same time. They are supposed to create a new kind of urban life based on a biological circular economy. That will make cities and municipalities stronger. "

    The present draft was strongly influenced by the experiences of the team of architects during the lockdown in Spain. “We wanted to make a case for the things that we think are important during a lockdown and in the future. If apartments enable teleworking and tele-teaching, have flexible rooms on large terraces, cities can grow food on their roofs and residents can print things in the neighborhood, we will be better prepared for the crises of the future. "

    Xiong'an is being built in Hebei Province, around 130 kilometers southwest of Beijing. According to the article, China's President Xi Jinping has described it as the "new standard for the post-COVID era". He marked Xiong'an as an urban innovation zone back in 2017.

  • Houzy expands into western Switzerland

    Houzy expands into western Switzerland

    The Zurich-based start-up company Houzy operates a platform that intelligently links data and uses it to derive recommendations for homeowners. For example, it can be calculated there when the heating is to be renovated and how much money should be put aside for it. A property valuation is also part of the Houzy offer.

    In the first two years since it was founded, the company focused primarily on product development, Houzy said in a press release. The company has already successfully established itself in German-speaking Switzerland and has increased the number of its users to more than 18,000. In addition, UBS only joined Houzy in July. The Zurich big bank operates its own digital real estate platform with key4 , on which mortgages for real estate buyers are brokered.

    The next step for Houzy was the expansion into French-speaking Switzerland, the message continues. To this end, the company is now making all the services and functions of the platform available in French. The integration of Italian-speaking Switzerland is planned for the first quarter of next year.

  • The Zurich economic area impresses with its access to talent

    The Zurich economic area impresses with its access to talent

    The Greater Zurich Area offers companies access to a large pool of first-class talent. Sonja Wollkopf Walt, CEO of the location marketing organization Greater Zurich Area ( GZA ), describes this as one of the most important attractions of the location in an interview with The Place Brand Observer ( TPBO ). Switzerland is listed as the world champion for innovation in several rankings. This has also been recognized by companies such as Google, IBM, Disney or Biogen, which have set up their research locations in the greater Zurich area.

    First-class technology, Swiss reliability and stability meet in the Greater Zurich Area, emphasizes Wollkopf Walt in an interview. Especially against the background of global trade conflicts or the corona pandemic, this is an important added value for companies.

    Despite the negative effects of the corona pandemic as a whole, it has also brought about new developments at some companies or accelerated research activities. Wollkopf Walt highlights, for example, HeiQ . The spin-off from the Swiss Federal Institute of Technology Zurich ( ETH ) is developing a technology that can protect textiles against viruses. Fabrics treated with the technology can block the corona virus by 99.9 percent.

    The costs in Switzerland are higher than in many European countries. At the same time, however, it is fair to say that the price-performance ratio in the Zurich economic area is good, according to Wollkopf Walt. Workers in Switzerland have one of the highest productivity levels in the world, she adds.

    When it comes to start-ups, the three most important factors that are necessary for a flourishing start-up ecosystem are present in the Greater Zurich Area: talent, capital and customers. Wollkopf Walt also points out that 2019 was a record year for start-up investments. In addition, four start-ups from the Greater Zurich Area have achieved unicorn status – that is, they are valued at more than 1 billion dollars.

  • geoProRegio is repositioning itself

    geoProRegio is repositioning itself

    The five Aargauer Stadtwerke, which have merged to form geoProRegio, have decided on a new ownership strategy. It provides for a restructuring of the geoinformatics service. The merger of the respective independent platforms is to create a company of its own, in which, however, only four shareholders will participate – Regionalwerke Baden, StWZ Energie AG, SWL Energie AG and TBS Strom AG. Eniwa is leaving and, according to a press release , decided for strategic reasons to continue its existing platform for geographic information services in the medium term and to sell its stake in geoProRegio AG.

    In the new structure, not only the technical systems, but also the customer portfolios as well as the 30 or so employees from the GIS departments of the four partners will be transferred to the company. The seat of geoProRegio AG remains in Baden.

    The managing director of the geographic information service provider is Cédric Aubert. The physicist has many years of experience in data management, research, the energy industry and the financial sector. He is fascinated by the challenge of “getting more out of geospatial data”. “The market potential in the field of geographic information services is great. With the new company, we are well prepared for the future and can offer our customers innovative and progressive geographic information solutions, ”Cédric Aubert is quoted in the press release.

  • Discounts for research strengthen locations

    Discounts for research strengthen locations

    "With the Swiss tax reform and AHV financing (TRAF), instruments for tax relief for research and development activities were introduced at the beginning of 2020," explains BAK Economics in a press release . The economic research institute has examined the effects of these concessions on the tax burden of companies in the individual cantons.

    According to the results, they reduce the effective average tax burden of a company on the Swiss average from 13.5 to 12.2 percent, explains BAK Economics. Very research-intensive companies could even reduce their exposure by an average of 4.3 percentage points to 9.2 percent. For the cantons, the benefits for spending on research and development (R&D) represented an internationally accepted substitute for the tax privileges abolished by the TRAF in addition to promoting innovation.

    With the flexible implementation of the requirements by the cantons, the ranking of the cantons in the tax burden for very research-intensive companies has shifted, explains BAK Economics. The low-tax cantons of Nidwalden and Obwalden continued to occupy the top positions here. "However, some high-tax cantons with a generous design of the R&D instruments can significantly reduce their burden," writes BAK Economics.

    Specifically, “the bottom three in ordinary taxation”, Bern, Zurich and Aargau, “for companies with very high R&D intensity towards the middle of the ranking”. The canton of Geneva has the highest average tax burden for companies with high R&D expenditure.

  • Basel area wants to test Velohochbahn

    Basel area wants to test Velohochbahn

    The canton of Basel-Landschaft wants to expand its infrastructure for bicycles. Together with the Federal Roads Office ( FEDRO ), he is now starting the project of a bicycle high-rise, he writes in a message . The Veloweg is built as a separate building next to existing roads. The system is made of wood in a modular construction. It will also be equipped with photovoltaic modules.

    For this purpose, FEDRO has commissioned a study for the routing in the Basel area. With this project, it wants to examine how a higher-level cycle network along existing motorways can be integrated into the cantonal cycle route networks.

    The Basel government council wants to submit a corresponding proposal to the district administrator in the fourth quarter. If the cantonal parliament approves, the bicycle high-rise should be built between mid-2021 and mid-2022. It is to be put into operation before the opening of the Federal Wrestling and Alpine Festival in Pratteln in 2022 .

  • The Swiss construction industry needs to rethink

    The Swiss construction industry needs to rethink

    The almost complete study on the situation and future of the Swiss construction industry by PwC Switzerland was revised and updated in March in view of the Covid-19 pandemic and its economic effects. There was a clear change in future expectations. The assessments “since Covid-19” were derived from the additional feedback and these were compared with the original assessment “before Covid-19”, according to a press release from PwC Switzerland on the study . Only 58 percent of the 130 companies participating in the study are now positive (92 percent before Covid).

    PwC Switzerland names its study “Make change, take with you what has been tried and tested”. Among other things, it says: “Only those who differentiate win. Creativity and a pioneering spirit are required. The construction industry is facing a paradigm shift towards more differentiation through networked collaboration. Digitization in particular offers interesting opportunities for this. It reduces interfaces, increases the quality of the planning and management processes and promotes the reduction of error costs and idle times in construction. "Covid-19 is likely to drive the" demolition of silo structures in the construction industry and the upcoming reorganization of rigid thought patterns. "

    "Even before the crisis, it became clear that a paradigm shift was required in order to survive in construction – even though the Swiss construction industry will continue to play a major role in many areas of life in the future," said Roland Schegg, Director and Head of Consulting at Family businesses & SMEs at PwC Switzerland.

    87 percent of companies see an opportunity in digitization, but only 62 percent give it a high priority. The use of digital technologies began years ago, according to PwC. But he is mostly limited to administration, marketing, communication or drawing the plans. It is necessary to digitize construction and operation as well. In particular, the planning and execution processes, which are often separated today, could be intelligently linked.

    The construction industry in Switzerland contributes around 15 percent to the gross domestic product. Around 330,000 full-time positions are located in civil engineering. That corresponds to a third of all employees in the industrial sector.

  • MoneyPark launches real estate platform

    MoneyPark launches real estate platform

    "We founded MoneyPark in 2012 with the aim of making the mortgage market more accessible and transparent for everyone," said Stefan Heitmann, CEO and founder of MoneyPark , in a message from the fintech company based in Pfäffikon SZ. MoneyPark now wants to bring this transparency to the real estate market as well. A mixture of technology and personal advice is intended to simplify the purchase and sale of real estate.

    To this end, MoneyPark has developed a new platform on which buyers and sellers can be brought together. MoneyPark explains that the platform compares customers' search criteria with information on properties available on the market. Owners of a home can also track the value development of their own property. The platform, which is currently only available to MoneyPark customers, is to be opened up to other interested parties in the future.

    The new digital offer is supplemented by personal advice from real estate experts from MoneyPark. "The combination of data technology and independent mortgage and real estate experts who support our customers every step of the way is unique on the Swiss market," says Heitmann. "The data accessible on the platform create a transparent customer experience with an unprecedented density of information and help make buying and selling decisions easier and easier to implement."

  • The first industrial power-to-gas plant is built in Dietikon

    The first industrial power-to-gas plant is built in Dietikon

    The showcase project for the use of renewable energies is being developed in collaboration between eight energy suppliers and the Swisspower public utility alliance. The project aims to show how power-to-gas systems can complement renewable electricity production and operate economically, according to a media release . The largest power-to-gas plant in Switzerland to date will have an electrolysis capacity of 2.5 megawatts and will feed synthetic renewable gas into the grid from winter 2021 to 2022.

    The operating principle of the new plant is described in the communication as follows: “The power-to-gas plant uses renewable electricity from the waste incineration plant to produce hydrogen. This is mixed with the CO2 in the sewage gas, creating renewable methane gas. Limeco thus gains a CO2-neutral energy source from waste and wastewater. ”In the existing gas network, the renewable gas replaces fossil energy sources. According to the information, this can save 4,000 to 5,000 tons of CO2 annually.

    At the groundbreaking ceremony for the construction project, Stefano Kunz, Chairman of the Board of Directors of Limeco and City Councilor of Schlieren: "With waste recycling and wastewater treatment at the same location, we have the perfect conditions to produce green gas." Ronny Kaufmann, CEO of the Swisspower public utility alliance, which who co-initiated the project, says: "The project shows: We have to work together for a renewable and climate-neutral energy system, across company boundaries." The Federal Office of Energy ( SFOE ) is supporting the project as part of its pilot and demonstration program.

    Systems like the one being built in Dietikon are important for the implementation of the Energy Strategy 2050. The plan is to replace the electricity from nuclear power with solar, water and wind power. This means that much more electricity will be produced in the summer than consumed. In winter, on the other hand, when the energy demand is greater, Switzerland has to import electricity. Power-to-gas is a key technology for storing excess renewable electricity seasonally.

  • Bringhen Group participates in Habitects

    Bringhen Group participates in Habitects

    Habitects launched in 2019 as a digital trading and service platform for the sanitary sector in Switzerland. The Winterthur start-up is now entering into a partnership with the Bringhen Group . The company, which was founded in 1959 and is based in Visp VS, is one of the largest specialist dealers in the construction sector with 14 locations throughout Switzerland and over 120,000 products. "For me this partnership is another important milestone in our company history", Jean-Pierre Bringhen, owner and CEO of the Bringhen Group, is quoted in the announcement from Habitects. "In order to take such a step outside of the traditional market structure, the group of companies had to reach a critical size with a corresponding market coverage."

    Bringhen also financially participates in the Winterthur company. Michael Lochmatter-Bringhen joins Habitects' board of directors.

    Thanks to the partnership, Habitects aims to become a leading marketplace in the Swiss construction trade. To this end, new services for craftsmen are to be launched. Digitization should be used for easier and more efficient handling of construction projects, Christoph Meili, Chairman of the Board of Directors of Habitects, is quoted in the announcement. This should benefit all stakeholders, from homeowners to architects and general contractors.

    Habitects is part of the ConReal Swiss digital ecosystem. This has spawned other companies in the construction and real estate sectors, including Fixify , houzy and SmartDevis . Further start-ups are in preparation, according to the announcement.

  • Agile Wind Power completes unique wind turbine

    Agile Wind Power completes unique wind turbine

    Dübendorfer Agile Wind Power AG has completed the construction of the first Vertical Sky wind turbine on the wind test field in Grevenbroich near Düsseldorf. Vertical Sky is the first wind turbine in the megawatt class with vertically mounted rotor blades. According to a press release, it is quiet, efficient and "unique in the world".

    In the coming weeks, the plant will gradually go into trial operation. During this time, various measurements that are required for certification are carried out. At the same time, electricity is produced. Vertical Sky wind turbines are environmentally friendly and can be installed in locations that are not suitable for conventional systems, such as close to residential areas, according to Agile Wind Power. Therefore, the tower is suitable for decentralized electricity production. In addition, birds and bats would recognize the vertically aligned rotor blades and not fall victim to them.

    The first product type has a nominal output of 750 kilowatts and is 105 meters high. Its rotor diameter is 32 meters. It is characterized by simple logistics concepts. "We are oriented towards the market and want to contribute to ensuring a safe and reliable supply of clean energy in the near future, regardless of finite energy sources", says the founder and CEO, Patrick Richter.

    The vertical sky rotor is going into series production on the former airport site in Lemwerder near Bremen. Access to international ports is an advantage of the location, according to the announcement. However, the Agile Wind Power research and development team will remain in Dübendorf.

  • Closed meeting of the SVSM board

    Closed meeting of the SVSM board

    The SVSM was founded in 1998 as an umbrella organization for location and business promoters in Switzerland.
    While the focus was initially on city marketing, the fields of activity have expanded significantly since then: According to the approach of integrated location promotion, the SVSM is one of their around 90
    Today, members not only include location and economic development agencies, but also tourism regions, real estate specialists, event agencies and educational institutions. To this changed framework
    To take this into account, the board of the SVSM met for a closed conference. The focus was on sharpening the association's profile, the services offered and the benefits for the members. In intensive discussions, focal points emerged and new tasks emerged. The main goals of the SVSM – enable the interdisciplinary exchange of experiences, promote professionalization and link teaching and practice – remain the same. However, members will be able to benefit from more services and improved networking opportunities in the future. The board members will now tackle the challenges of the association with a lot of motivation and commitment
    to develop further; Because everyone agreed: The SVSM is an important point of contact for all questions about location management.

  • SVIT-Digital Day shows software for management of management

    SVIT-Digital Day shows software for management of management

    The Swiss Association of the Real Estate Industry (SVIT) is holding Digital Day 2020 on Monday, September 21 in the Kosmos in Zurich. From 11 a.m. to 6 p.m., visitors can collect information on the subject of digitization in the real estate world with free admission. On the digital day of the real estate industry, the organizing commission “SVIT Digital” is also launching a “Meet and Greet” for all visitors to the event on this day. They can discuss their digital concerns directly with proven professionals and other visitors at the big table and work out possible solutions, according to the announcement for the digital day.

    According to the organizer Pape Werbe AG from Weiningen ZH, more than 40 exhibitors will be present in the Kosmos and many lectures will be held on specialist topics such as "Digital Signature" or "The 3 Levels of Digitization in Property Management". During the entire event, it will be ensured that the current protection concepts due to the corona pandemic are adhered to.

  • Swiss electricity from the socket is 75 percent green

    Swiss electricity from the socket is 75 percent green

    In 2019, around 75 percent of the electricity from Swiss sockets came from renewable energies. This is evident from the data collected annually by the Federal Office of Energy ( SFOE ).

    According to a media release , the data published on Monday show that 66 percent of the electricity consumed comes from large-scale hydropower. 8.4 percent is generated by solar and wind energy as well as from small hydropower and biomass. In 2019, their share rose from 7.85 percent in the previous year to 8.4 percent. Around 95 percent of this was produced in Switzerland and a good three quarters were funded by the feed-in tariff system ( ESV ).

    Compared to the electricity actually supplied, the shares of renewable sources in Swiss electricity production are lower: 56 percent of the electricity produced in Switzerland comes from hydropower and 6 percent from new renewable energies. In this context, the SFOE points out that the Swiss Sockets not only supply electricity from Swiss production.

    19.1 percent of the delivery mix comes from nuclear energy (2018: 17.3 percent). The share in Switzerland's production mix is significantly higher at 35 percent, some of which is exported. Almost 2 percent in the Swiss delivery mix is obtained from waste and fossil fuels.

    The origin and composition of 4 percent of the electricity supplied cannot be verified. Since this so-called gray electricity is only permitted in exceptional cases from delivery year 2020, according to the SFOE, large consumers are apparently increasingly switching to domestic nuclear energy. Since most of the neighboring countries do not issue any guarantees of origin for electricity from conventional power plants, Switzerland has introduced replacement certificates. Coal electricity from abroad can be declared as such and no longer has to be summarized under gray electricity. This share of coal-fired electricity halved to half a percent between 2018 and 2019. However, electricity-intensive companies recently obtained replacement certificates for electricity from fossil and nuclear sources from European power plants.

  • The energy funding program has been exhausted

    The energy funding program has been exhausted

    This year, the canton of Lucerne has given a total of 8 million francs in funding, the cantonal service for the environment and energy ( uwe ) informed in a message . Around 1100 projects have thus been supported. This year's funding program was expanded to include automatic wood heating systems and a new advisory service for heating replacement.

    As of September 2nd, this year's announcements will be exhausted, the announcement further explains. "We are pleasantly surprised at the early exhaustion of the program," government councilor Fabian Peter (FDP), head of the building, environment and economic department, is quoted there. In particular, the advice on heating replacement made "an important contribution to the climate target of reducing greenhouse gas emissions to net zero by 2050".

    When it comes to building renovations, Peter sees a need for action. The energy-related renovations have so far been less than 1 percent annually. "That's not enough to achieve our climate goals," says Peter. He points out that the building program “makes sense not only ecologically, but also economically”. Because the money from the CO2 levy flowed back into the canton, “the building industry benefited in addition to homeowners and tenants”.

  • Rents rose in August

    Rents rose in August

    In August, asking rents in Switzerland rose by 0.26 percent. The upward trend is particularly confirmed in the annual analysis with a plus of 0.88 percent. This is shown by the current rental price index figures from homegate.ch and Zürcher Kantonalbank ( ZKB ). It measures the monthly, quality-adjusted change in rental prices based on current market offers.

    The rental price development in the canton of Thurgau is striking, according to a media release from the real estate marketplace homegate.ch. The rent there rose by 0.71 percent, almost three times the Swiss average. The canton of Valais also shows a noticeably higher value with a plus of 0.62 percent. In the cantons of Zurich, Glarus, Appenzell Ausserrhoden and Appenzell Innerrhoden, apartment hunters are confronted with rents that have risen by 0.50 percent, in Schaffhausen it is plus 0.49 percent. On the other hand, Geneva recorded the steepest decline with a minus of 1.48 percent. The rent index is only stagnating in the cantons of Basel-Stadt and Schwyz.

    The cities of Geneva (-2.43 percent) and Lugano (-1.41 percent) recorded a large decline. In contrast, asking prices in the city of Zurich rose (+1.31 percent). Only in the city of Basel does the rent index remain unchanged.

  • Properties are facing a round of financing

    Properties are facing a round of financing

    Almost a year ago, Levent Künzi, former COO of Betterhomes , and his brother Adrian Künzi founded the company properti . The two brothers want to change the real estate industry with the digital real estate broker, explains properti in a press release. The target group of the young company from the Zurich economic area are private owners of rental apartments. According to the announcement, they currently make up around half of all owners of around 4.5 million apartments across Switzerland.

    Propertyi works according to the motto manage centrally, mediate decentrally, is further explained in the communication. "We focus on the niche market of private owners and offer a comprehensive service for everything to do with the sale and rental of real estate," Levent Künzi is quoted there. At the same time, properti's processes are completely digitalized.

    After only ten months on the market, properti has already grown to 40 employees. You are currently looking after "over 300 active properties in German-speaking Switzerland and by then have already managed over 230 brokerages with a sales volume of around 40 million – despite Corona," says Levent Künzi. The two brothers want to carry out a first round of financing shortly. McMakler is named as a role model in the communication. The German company managed to collect 50 million euros and increase the company's value to 230 million euros.

  • PriceHubble is taking in fresh money

    PriceHubble is taking in fresh money

    PriceHubble has completed a successful financing round and raised several million Swiss francs, according to a message from startupticker.ch. The round was led by the Helvetia Venture Fund and Swiss Life. The investors also include the Austrian real estate company Soravia and Frank Strauss, former CEO of Deutsche Postbank.

    PriceHubble makes it possible to gain useful knowledge for the valuation of real estate from large amounts of data. With the company's solution, for example, data on the location, the neighborhood or noise pollution can be evaluated and clearly presented with the help of big data analytics and artificial intelligence. PriceHubble is aimed at all parties in the real estate value chain, such as real estate portals, banks, asset managers, insurance companies, real estate investors and private individuals.

    According to the announcement, the company is already successful in German-speaking countries, France and Japan. In the past twelve months, PriceHubble has quintupled the number of its customers to several hundred and doubled the number of employees to 72.

    With the fresh money, the international growth is to be further promoted. "With the newly acquired financial resources, we are ideally equipped for further expansion and can further expand our top European position as proptech for data-driven real estate valuations and location analyzes", PriceHubble founder Stefan Heitmann was quoted as saying.

  • Lake Zurich education center inaugurates new building

    Lake Zurich education center inaugurates new building

    Patrick Heeb, Rector of the Education Center Lake Zurich ( BZZ ), inaugurated a new building at the BZZ in Horgen on Tuesday, together with District President and Education Director Silvia Steiner (ZH / CVP) as well as Government Council and Construction Director Martin Neukom (ZH / GPS). BZZ learners have already moved into the new school building.

    The new building, which has now been inaugurated, is intended to cover the school's increasing space requirements, as stated in a media release . With it, the school has new classrooms as well as a new triple gymnasium. The sports hall is made available to the sports department of the municipality of Horgen outside of school hours.

    After the completion of the new building, the renovation of the existing building will begin. After the construction work is completed, the BZZ will be able to benefit from its location on Lake Zurich. It will use the lake water to generate cold and heat.

  • Holcim supplies sustainable concrete for HSG Learning Center

    Holcim supplies sustainable concrete for HSG Learning Center

    The HSG Foundation is currently building the new HSG Learning Center on the premises of the University of St.Gallen ( HSG ). The general contractor HRS Real Estate AG has commissioned the Swiss Holcim AG with the delivery of the concretes. A new, more sustainable Holcim product, EvopactPLUS, is used in around half of the total of 6,000 cubic meters of concrete used.

    "With EvopactPLUS we close the building material cycle, conserve natural resources and save CO2," said Roger Dällenbach, Regional Manager for German-speaking Switzerland and Ticino, in a press release from Holcim. The new type of concrete replaces natural gravel with a reclaimed aggregate from the region. It also includes Susteno, which, according to the company, is the "first and only resource-saving cement in Europe that uses mixed granulate from demolitions as an additive". This fine material is not used in conventional concrete production and must therefore be dumped.

    "Compared to an already optimized mass cement, the use of Susteno saves 10 percent CO2," the press release said. Regionality also plays a role: the building material is delivered from the Holcim concrete plant in St.Gallen, just three kilometers from the construction site. "It was an experiment for us because we were working with the product for the first time," Holcim foreman Marcel Kunz is quoted as saying. He is very satisfied with it, "it's a wonderful concrete."

    In the future, the modern building should focus less on technical learning than on learning the necessary skills such as critical thinking and self-reflection, according to the client, the HSG Foundation . It finances this project largely from donations from HSG alumni .

  • EBL is investing up to 1.4 billion in the energy transition

    EBL is investing up to 1.4 billion in the energy transition

    EBL wants to drive the energy transition in Switzerland and Europe with large investments. As the Basel-based energy supplier announced , it wants to create EBL X Invest, a new investment vehicle for professional investors, in 2021. This is to be equipped with equity of 250 to 500 million euros. This should trigger investments of 700 million to 1.4 billion euros in wind, solar and water power in Switzerland and Europe.

    The new investment vehicle builds on EBL Wind Invest AG, which was founded in 2016 by EBL, institutional investors and pension funds. EBL Invest is said to have invested a total of 370 million euros in wind power plants in Germany by the end of 2020 with equity of 120 million euros. The plants are expected to generate 370 gigawatt hours of electricity per year.

    EBL also relies on renewable energies in its own company. 97 percent of the company's own vehicle fleet is to be converted to electric drives by 2030. 95 percent of the headquarters in Liestal are managed with renewable energies.

  • Real estate market defies the pandemic

    Real estate market defies the pandemic

    300 players in the real estate market took part in this year's summer survey, CSL Immobilien informs in a press release . The record high participation shows "how strongly real estate companies, funds and investors are currently interested in exchanging current market information," it said. According to the results of the survey, the economic downturn associated with the coronavirus pandemic had little impact on the real estate market.

    "The turning point in the real estate market caused by the pandemic is significantly less than expected," said Patricia Reichelt, Head of Research & Market Analysis at CSL Immobilien, quoted in the press release. According to the results of the survey, the differences in the housing market compared to the previous year are “so minimal in all five regions in both the property segment and the rental housing market that no general trend is discernible,” the press release said. When it comes to the development of purchase prices, the market players anticipate that the prices for single-family houses will rise more significantly than the prices for condominiums.

    But the demand for office space is "still there despite the corona shock," writes CSL Immobilien. Here, growing or newly founded companies generated additional demand “despite overall falling overall demand”, explains the company. “In the Greater Zurich Area, demand in these two categories fell by a third compared to the previous year. But still 16% of the survey participants stated that growth or start-ups were the main motivation for the demand ”, it says in the communication. In Basel this would be the case for a third of those surveyed, in Bern for 16 percent. In Geneva and Lausanne, however, growth or start-ups were not mentioned as a reason for demand. In the opinion of CSL Immobilien, however, the additional demand could mean that the demand for office space will fall significantly less sharply in the coming years than after the financial crisis in 2008.

  • Corona-influenced half-year results of the Zug Estates Group

    Corona-influenced half-year results of the Zug Estates Group

    • The property income increased by 5.4% compared to the same period of the previous year
    • CHF 28.2 million
    • Doctorate profit before taxes of CHF 9.5 million in the Aglaya project
    • The group result amounts to CHF 8.3 million (previous year period: CHF 26.1 million). Without
    • Revaluation and special effects reduced the group result from CHF 15.4 million.
    • to CHF 11.9 million
    • Solid capital base with an equity ratio of 55.7% (54.7% as of December 31, 2019)

    At Zug Estates, too, the first half of 2020 was dominated by the challenges we were faced with by the COVID-19 pandemic.

    In the real estate sector, many of our tenants had to close their shops during the officially ordered lockdown. This mainly affected our retail tenants and thus the Metalli shopping mall. In the Hotel & Gastronomy segment, the almost complete standstill of international business travel led to a considerable drop in sales.

    Fortunately, despite Corona, we were able to hand over all of the remaining 49 condominium units of the Aglaya doctoral project to their new owners on time. In addition, we have already been able to find a partnership-based and conclusive solution for a one-off rent waiver with over 90% of the tenants directly affected by the lockdown.

    In the first half of 2020, the group result was CHF 8.3 million, 68.3% below the previous year's period (CHF 26.1 million). Adjusted for revaluation and special effects, the declining figures in the Hotel & Gastronomy segment in particular lead to a reduction in consolidated earnings by 22.7% from CHF 15.4 million to CHF 11.9 million.

    Increase in property income with significantly lower hotel and catering sales

    The full period of validity of rental contracts, the majority of which were concluded in the previous year, increases property income in the first half of 2020 compared to the same period in the previous year by 5.4% to CHF 28.2 million. Due to the COVID-19 pandemic, rent payments of CHF 0.7 million were granted.

    Income in the Hotel & Gastronomy segment fell from CHF 8.2 million to CHF 3.6 million. The occupancy of our hotels was temporarily reduced to less than 10% during the lockdown. Since then we have been able to record growth again, but are still well below the corresponding prior-year figures. The gross operating profit (GOP) is only 7.8% compared to 39.3% in the first half of 2019.

    The sale of the last 49 condominiums in the Aglaya project resulted in income of CHF 72.5 million and a pre-tax promotion profit of CHF 9.5 million
    In the Aglaya doctoral project, we were able to generate a return on the investment volume of 17.3%. Since no sales revenue was posted in the same period of the previous year, there was an overall significant increase in operating income from CHF 36.7 million to CHF 105.4 million.

    The real estate portfolio was valued a total of CHF 13.6 million lower, which corresponds to around 0.9% of the portfolio value of all investment properties as of June 30, 2020 and is due to a slightly more conservative assessment of the market rents for retail space in general and individual specific office spaces. In the same period of the previous year there was a revaluation gain of CHF 11.5 million.

    The average interest rate of the interest-bearing debt capital could be further reduced from 1.4% to 1.3%. As expected, the significantly lower construction activity led to a decrease in capitalizable interest and a corresponding increase in financial expenses from CHF 2.5 million to CHF 3.5 million.

    Stable portfolio with a higher vacancy rate

    At CHF 1.63 billion, the market value of the portfolio is at the same level as on December 31, 2019. In the first half of 2020, the last building in construction site 1 in Rotkreuz was put into operation. As expected, this increased the vacancy rate from 3.3% as of December 31, 2019 to 5.3% as of June 30, 2020. We invested a total of CHF 16.2 million in our portfolio in the reporting period. The weighted average remaining lease term (WAULT) is 6.7 years (6.8 years as of December 31, 2019), a very high level compared to the industry.

    While our residential products are enjoying very good demand in the current market environment, we are currently noticing a certain reluctance due to the COVID-19 pandemic, especially among those who are interested in office space. However, we are confident that the centrally located, high-quality and sustainably operated office space at Zug Estates will continue to be in high demand in the future. Fortunately, the number of inquiries for retail space in Metalli remained stable. We currently have no evidence of a decline.

    Solid capital base

    With the repayment of funds from the sale of the last apartments in the Aglaya and despite the distribution of a special dividend, the interest-bearing debt capital was reduced from CHF 597.4 million to CHF 587.1 million in the first half of 2020. The average remaining term of this financing is 4.8 years (previous year: 5.2 years). With an equity ratio of 55.7% higher by one percentage point, Zug Estates has a very solid equity base.

    Project development with a focus on the Metalli habitat

    After the city of Zug and Zug Estates presented the first result of the joint planning process for the “Metalli living space” in March 2020, a feasibility study was carried out with the specialist planners. The alignment project and the application for adapting the two development plans concerned are currently being drawn up with all the relevant documents. The guideline project is to be submitted to the city of Zug in the third quarter of 2020. The legally amended development plans are expected in 2022/23.

    After receiving the building permit, the Board of Directors approved the planning phase for the last two buildings (S43 / 45) on the Suurstoffi site in Rotkreuz. The start of construction will be triggered as needed, taking into account the market recovery in connection with COVID-19.

    Step-by-step implementation of the sustainability strategy

    The connection of the Metalli-Gevierts to the lake water network Circulago could take place according to plan in April 2020. The corresponding contracts for the connection of the remaining 16 properties were signed in December 2019. Commissioning is to take place in stages in 2021, 2023 and 2025. From this point in time, Zug Estates will be able to operate its entire portfolio almost CO2-free.

    Public electric charging stations have been available to customers on the Metalli shopping street since the beginning of June. Two of the six stations are high-performance fast charging stations, the first in the city of Zug.

    The installation of the CO2-neutral cooling in the rooms of the Parkhotel Zug was completed on schedule in April 2020, which means a significant increase in comfort for the guests from now on.

    Outlook 2020

    Due to the temporary effect of the rent reductions in connection with COVID-19, we continue to expect increasing rental income for the year as a whole. As a result of increased renovation and maintenance work or lower capitalizable financing costs, real estate expenses and financial expenses will be higher.

    In the Hotel & Gastronomy segment, we are assuming that sales and GOP will be well below the previous year's level due to the considerable drop in sales due to the stoppage of international business transactions by our regular customers, although the developments in the second half of the year are difficult to forecast.

    Therefore, both an operating result before depreciation and revaluation and a consolidated result without revaluation and special effects are expected to be significantly below the previous year.