Fay Projects: Headquarters moves from Mannheim to Frankfurt
In mid-October, the developer Fay Projects GmbH, based in Mannheim, will move its headquarters to Frankfurt. “If we want to go on growing, we have to go away from here,” CEO Andreas-Norbert Fay told the daily newspaper Mannheimer Morgen. It is the firm’s goal, he continued, to develop projects with a volume of at least €50mn. Quoting circles close to the company, the paper reported that the move also has to do with the allocation of contracts by the city of Mannheim: during the past 17 years, Fay was not commissioned to carry out one single large-scale project in Mannheim. At present, among other projects, the firm is working on the urban development project “Stuttgart 21,” where the “Library Square” mixed-use project, at approximately 18,700 sqm of gross floor space, is being developed on one of the construction sites.