Magdeburg, the historically significant city on the Elbe River, is undergoing a fascinating metamorphosis. The center of this project is the transformation of the former industrial site Fahlberg-List, which will be converted into an urban neighborhood spanning 30 hectares, with around 3,000 new residential units and workspaces for approximately 1,000 jobs.
The development of the neighborhood promises an architectural transformation that will deeply change the cityscape. The neighborhood aims to not only combine living and working, but also integrate culture and recreation in a harmonious way. This visionary approach puts the project in the spotlight and opens up perspectives for Magdeburg as an emerging technology hub.
A fresh start for the Fahlberg-List site
The acquisition of the Fahlberg-List site marks a new beginning for formerly industrially dominated areas. The 1,200-meter long shoreline of the property promises a connection to nature and creates an attractive recreational space for the residents. Matthias Claßen, CEO of Eterra Group, emphasized in an interview the importance of preserving the memory of the site’s industrial past while also expanding the housing offer in Magdeburg qualitatively.
Challenges and opportunities in the Magdeburg real estate market
The challenges should not be underestimated. In an environment where rental prices are rising and the demand for affordable housing is growing, forward-looking neighborhood development is essential. However, Matthias Claßen sees these challenges not only as hurdles, but also as opportunities for growth and potential.
The planning of the semiconductor factory by the American chip and semiconductor manufacturer Intel in the capital of Saxony-Anhalt marks a turning point for Magdeburg. This major project will not only bring 10,000 new jobs to the region, but also a significant demand for highly qualified workers. The close connection to Otto-von-Guericke University will be crucial in meeting the demand for skilled workers.
The role of Intel in Magdeburg’s future
Intel’s decision to invest in Magdeburg is not only the largest company settlement in Germany in recent decades, but also a vote of confidence in the potential of the region. With the construction of the mega fab in Magdeburg, not only the demand for housing will increase, but new opportunities for innovative construction projects and sustainable development will also be created.
The transformation of the Fahlberg-List site
The transformation of the Fahlberg-List site will not only change the cityscape, but also create a blueprint for sustainable urban development and successful partnerships in the real estate sector. Magdeburg’s journey to becoming a beacon of neighborhood development has begun, and Eterra Group plays a decisive role in it.
Fahlberg-List area in Magdeburg: From chemical giant to urban living space
The former stronghold of the chemical industry, the Fahlberg-List area in Magdeburg, is facing an impressive transformation. With an investment of over one billion euros, Eterra Group plans to transform the abandoned 52-hectare industrial area into a thriving neighborhood called Elbhafen. The focus will be on residential buildings, offices, and non-disturbing commercial spaces.
Once a proud representative of the chemical and pharmaceutical industry of the GDR, Fahlberg-List was founded in 1886 and was a global pioneer in producing the sweetener saccharin. The decline began after reunification, and today, out of the once 2,000 employees, only 150 remain. Parts of the company were taken over by the Strüngmann family and Dr. Schirm AG and now bear new names like „Salutas Fahlberg-List Pharma GmbH“ and „Hermania Dr. Schirm GmbH“.
A concept for the future – Transformation for the community
The concept promises more than just urban development. The Elbhafen project plans to not only create thousands of new housing units, but also provide space for shops and public facilities. A total of 300,000 square meters will be developed, with one-third reserved for commercial purposes and the rest for residential use.
Daniel Slenters from Eterra Group adds that the project aims not only at housing and commercial spaces, but also at attracting residents and visitors back to the Elbe River. The Elbe Cycle Path will be relocated to emphasize the proximity to the natural environment. This endeavor will not only increase the attractiveness of the neighborhood, but also fulfill a long-standing wish of the city.
Overall, the investment of over one billion euros will not only revive the Fahlberg-List area, but also position Magdeburg as a rising city with an innovative and sustainable living environment. The Elbhafen project will not only bring about urban changes, but also be a pioneering development for the future of this historic city on the Elbe River.
Author: Chanel Ehlers
Project Manager & Blogger
Chanel is a passionate project manager for future-oriented companies, and her passion lies in blogging and publishing ideas that enrich the world and make it a better, more sustainable place in the long run.
About Eterra Group:
Eterra Group is an innovative and future-oriented real estate company from Magdeburg that is committed to sustainable living. The company offers a wide range of services and works closely with its customers and investors to fulfill individual needs. More information at https://www.eterragruppe.com
ETERRA Gruppe GmbH
Halberstädter Straße 13
Kurfürstendamm 11, 10179 Berlin
Bartolome Buadas Mayol 6 BL. B 4 C – SES ILLETES 07184, Calvia (Illes Balears), Spain
Palma de Mallorca; CAS Catala
ETERRA Gruppe GmbH
Halberstädter Straße 13
CEOs: RA Matthias Claßen & Beate Jansen