Posted 12/8/2023, 6:20:00 PM
German Economic Troubles Put Hamburg's £814m Elbtower Project at Risk
- Unfinished £814m Elbtower skyscraper in Hamburg, Germany threatened with demolition due to economic troubles
- German economy now world's worst performing major economy as companies slash investment
- Real estate developer Signa declared insolvency, blames rising costs and interest rates
- Wider construction industry grinding to a halt, 700,000 missing homes expected by 2025
- German GDP shrinking, companies moving abroad, austerity measures likely needed