European Central Bank becomes anchor tenant at CapitaLand's Frankfurt building

The Grade A office tower is to house ECB under 10-year lease agreement.

CapitaLand Integrated Commercial Trust (CICT) and CapitaLand Investment Limited (CLI) have secured the European Central Bank (ECB) as the new anchor tenant at Gallileo building in Frankfurt.

Gallileo, a 38-storey Grade A office building located in Frankfurt's banking district, will now host the ECB under a 10-year lease agreement, occupying nearly 93% of the building's net lettable area.

Commencing in the second half of 2025, CapitaLand will gradually hand over the leased area to the ECB following the completion of ongoing asset enhancement initiatives (AEI).

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Upgrading works at Gallileo began last February, with an investment of approximately $262m (€180m)in AEI, aimed at improving infrastructure, systems, and environmental efficiency. The AEI is estimated to take at least 18 months, targeting a minimum green rating of LEED Gold.

Furthermore, CapitaLand is expected to finalise a lease agreement with the City of Frankfurt for basement space usage by the English Theatre Frankfurt. With the ECB and the City of Frankfurt as tenants, Gallileo's committed occupancy is expected to surpass 95%.

($1.00 = €0.69)

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