Zurich Airport News Flash No. 18 / Submission of building application for the real estate project "The Circle" at Zurich Airport
With the real estate project “The Circle”, Flughafen Zürich AG plans a service destination within walking distance from the terminals. Today, the company submitted the building application to the City of Kloten, thus reaching yet another milestone in the project.
Submission of building application
One and a half year after the three-stage architectural competition for “The Circle”, Flughafen Zürich AG submitted the building application on October 21, 2011. The submission of the building application is a milestone for the large-scale project. “We have prepared this application in an optimal way and with it, we plan to turn the existing transportation hub and commercial centre Zurich Airport into an even more significant service destination”, states Chief Executive Officer Thomas E. Kern.
The building permit is expected for the first half of the year 2012. The beginning of construction is scheduled for the year 2013 if all other conditions can be met and fulfilled. If construction proceeds as planned, the first phase of the complex can start commissioning in the year 2017. By obtaining a legally binding permit for around 1’000 parking spaces, the proceedings for traffic and parking have already been concluded.
The building application and subsequently the building permission mark significant milestones in the planning phase of “The Circle”. However, further conditions have to be fulfilled in order to implement this project. Amongst others, successful tenancy achievements, establishing an investment and financing structure and further clarity regarding investment costs are crucial requirements. The investment volume for “The Circle” is estimated at around one billion Swiss Francs. For the implementation of “The Circle” it is planned to set up a project company, in which Flughafen Zürich AG will be significantly involved.
Zurich Airport as a destination in the region
With “The Circle”, Zurich Airport is developing from a transportation hub and commercial centre into an own destination. The development is being coordinated closely with the adjoining City of Kloten. The service destination “The Circle” will create around 3’000 jobs. “I am delighted with this prospect, and it is not just me but also the entire City of Kloten”, says René Huber, Mayor of Kloten.
A study of Infras, a research and consulting company, expects an added value through “The Circle” of around 630 million Swiss Francs in the year 2020. The module “Headquarters & Offices” with its prestige offices and sophisticated infrastructure for both, national and international companies, is expected to yield further benefits.
“The Circle” with international charisma
The large-scale project at Zurich Airport bears significance for all of Switzerland. Zurich Airport connects Switzerland with the world - and vice versa. ““The Circle” strengthens the international network and contributes to the positioning of Switzerland in markets abroad”, says Jürg Schmid, Director of Switzerland Tourism. “Flughafen Zürich AG demonstrates pioneering spirit with the plan to build Switzerland’s first service destination. I am sure this project will gain an excellent reputation beyond national borders”.
The big plus for the new destination is being located in the heart of Europe and within walking distance from Zurich Airport, one of the best-connected locations in Switzerland. “The Circle” will be conveniently accessible for private and public transport. At this stage, around 380 trains and 660 buses connect Zurich Airport with all regions of Switzerland and neighbouring countries. Therefore, “The Circle” is an ideal location for events, conferences or congresses with up to 1’500 participants.