Frequently asked questions
How can I rent or buy accommodation in HafenCity? How green is the district? And what are the responsibilities of HafenCity Hamburg GmbH? Answers to frequently asked questions
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How is HafenCity financed?
The lion’s share of investment comes from private investors which will invest around EUR 8bn in HafenCity land and buildings at today’s prices and which acquire them from the Special Fund for City and Port managed by HafenCity Hamburg GmbH. The special fund includes urban sites in HafenCity; after acquisition of even larger areas of land in recent years, 97 % of HafenCity sites are the property of Hamburg. The proceeds of sales of building sites (around 50 % of the area) will finance infrastructure, roads, bridges, promenades, parks but also relocation of businesses, site clearance, planning, acquisition of investors and communication. The goal of HafenCity development is that revenues from special assets should balance out with the costs of development in the end, to achieve high urban quality, but not to generate any kind of deficit. Since development costs run ahead of sales of land, loans for interim financing are taken up at local authority credit conditions.
After all Hamburg is financing the external connections of HafenCity (bridges, upgrading of roads and the U4 subway) out of budgetary funds, as well as cultural and educational infrastructure projects, such as schools and HafenCity University, the Elbphilharmonie (largely), and the Hanover Railroad Station deportation documentation center. It is only in the case of the U4 subway that Hamburg is receiving federal budgetary support of well over EUR 100m. Unlike many other urban megaprojects in Europe, Hamburg is not receiving any EU funds for HafenCity.
Public financing of HafenCity is thus based on internationally very stable foundations. The costs of all the infrastructure and development will be financed through the sale of sites stemming from the overarching land ownership role; the less costly expenditure for special projects and external site connections comes out of the budget, into which flow the contributions of companies, employees and households in HafenCity, without having to contribute to reciprocal financing of HafenCity development.







