Countdown for future project GALILEO
Opening in June 2021
SOINI ASSET heralds the final spurt for the opening of the innovative building concept – at one of the most important micro-locations just outside Munich.
It is one of the outstanding projects in the Munich Metropolitan Region:
At the heart of the Garching research campus, the future centre for teaching, learning and lifestyle is receiving its finishing touches. With GALILEO, the innovative location will receive a high, urban mix of uses, including a new Audimax, hotel with guest house, office space, as well as catering, retail, service and leisure areas, and will thus become a place for international encounters. The lively centre combines teaching and research with communication, business and social exchange. Garching is thus transforming itself into a place that offers people from all over the world a plus in quality of life – and becomes a place of encounter.
GALILEO is located in the heart of the micro-location that has grown up around TUM Garching – with 27 institutes, 5 faculties, 15 central institutes, 17,000 students and 10,000 employees as well as a direct subway connection, a location of excellence has been created around knowledge and teaching. What has always been missing: a central hub that brings life to this location. SOINI ASSET has created this with our GALILEO. The building itself consists of 6 sections and covers a total area of 65,000 square meters of gross floor space. “This building is unique – like the location itself,” enthuses CEO Oliver Soini.
All areas will intermingle, connect with each other and as a whole appeal to the different target groups on site. 91% of all space has been leased, the last 9% being final areas in the mall and gastro area. Here you can see the attraction of this micro-location – despite the pandemic. There was never an obstacle in the leasing process – the tenants approached us. This once again underscores the immense strength of the micro-location.
“I can’t wait to usher in a new era with this project, but also to contribute to a new culture,” says the CEO of SOINI ASSET, which entered the project as an investor in 2015 and also took over as project developer for the challenging project in 2017.
As the company’s driving force, Soini consistently demonstrates a keen sense for innovative concepts, a deep understanding of market and people needs, and a keen instinct for expanding a project’s potential. “The idea of creating a vibrant centre that combines study, science and research with leisure had an incredible appeal to us from the very beginning,” the investor emphasizes. “It has been a long journey that has been more than worth it.”. More than 250 million euros was invested in this extraordinary project over the entire period. Various companies made their contribution here.
“We are extremely pleased to have found an investor in the Hesz Group, who is going the last mile together with us,” Soini emphasizes and warmly welcomes the Hesz Group to the investor team. Hesz, the globally active family-owned company based in Wels (Austria) and focused on investment in a wide variety of projects, already acquired shares in the project company of the GALILEO project at the end of last year.
“A building with such an extraordinary architecture also needs an extraordinary financing architecture,” explains Soini. Thus, over the years, he has not only designed GALILEO as a developer, but has also always provided the necessary capital as an investor and designed the various phases.
Now the final steps are being completed: All fire protection issues have been resolved. The addendum to the ground lease has been concluded and extended until 2090. A reason for Oliver Soini to look to the future: “With GALILEO, we want to create a place for meeting and knowledge. The modern structure and the atmosphere of togetherness is profile-giving.
The Neue Mitte creates worlds of experience and literally creates destinations for teaching, learning and lifestyle with international appeal.”