Berlin: Chamartin-Meermann stops construction on “Pergamon-Palais”
For the time being, construction work on the building complex called “Pergamon-Palais” on the Museumsinsel (Museum Island) in Berlin has been halted. The reason given by the Chamartin-Meermann- Group for this suspension is insecurity in the international financial markets and the failure of a bank to honor already approved financing. At the same time, the firm said, it is in financial negotiations with other banks. CEO Heinz H. Meermann told the daily newspaper “Die Welt,” “We are certain that we can still compensate for the delay on the ‘Pergamon-Palais’ project.” The planned development is a four-part building with a total of approximately 10,700 sqm of usable area at a cost of some €50mn. Chamartin-Meermann declared that their project at Askanischer Platz 1, now in the shell construction phase, is on schedule and will be given over to the tenants in the summer of 2009.