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Olympia 2024 Hamburg, Studie 2, 2014 © gmp-Architekten, Hamburg; Gärnter & Christ, Hamburg

The 2024 Olympics Stimulate Urban Development and Tourism

Hamburg Chamber of Commerce: Hamburg's entire urban development would benefit. Hamburg's real estate industry sees great opportunities for more housing

Especially the regional economy could benefit from the construction and modernisation of sports facilities and the construction of the Olympic village materially from Olympic and Paralympic Games in 2024 in Hamburg, said Prof. Hans-Jörg Schmidt-Trenz, CEO of the Hamburg Chamber of Commerce, at the 28th Hamburg Real Estate Meeting.

The Olympics would be an excellent catalyst for the urban development of the entire city: “This applies both to the growth, infrastructure, quality of life, inclusion, amateur and professional sports as well as the level of awareness, and it will sure make Hamburg even more attractive for professionals, investors and travellers from all around the world”, continued Schmidt-Trenz. The Hamburg citizens will vote on Hamburg’s Olympic bid in a referendum on 29 November.

Positive Examples: London and Barcelona

Schmidt-Trenz recalls London. Three years after the Olympic Games, the capital of the UK had been redeemed by growth in foreign trade, investment of 9.9 billion pounds sterling, and 70,000 new jobs. Another positive example is, according to Schmidt-Trenz, Barcelona. “Since the Games held in 1992, the Catalan capital has increased visitor figures from 1.9 million to 7.9 million in 2014.” In city tourism, Barcelona today ranks fourth in Europe.

New Facilities for Sports and Recreation

“The Games are a catalyst for the much-needed housing,” emphasised Thomas Krebs, CEO of SAGA GWG and a member of the plenum of the Hamburg Chamber of Commerce. Hamburg’s housing industry will make a significant contribution to the creation of the new district “Olympic City” with about 8,000 flats. Furthermore, the new sports and leisure facilities erected in the district will be of benefit to all Hamburg locals. The Association of North German Housing Companies, BFW Landesverband Nord, IVD Nord and the Landowners Association, unanimously agreed that the development of Kleiner Grasbrook provided a unique opportunity to create affordable housing in a central location.

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About the Hamburg Real Estate Meeting

The “Hamburg Real Estate Meeting (Hamburger Immobilientreff)” is hosted twice per year by the Hamburg Chamber of Commerce in co-operation with the Association of North German Housing Companies, the BFW Landesverband Nord, the IVD Nord and Landowners Association. Held for more than ten years, the meeting has established itself as a leading event of the Northern German real estate industry.

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