Gerch Group News Today

Europe's real estate market has been hit by a storm. Higher interest rates have caught investors and companies off guard, while the pandemic shifted some fundamental dynamics.

While investor fears during the real estate crisis have centred on landlords, it’s the developers that are the ones in imminent danger.

(Bloomberg) -- In July this year, Nuremberg’s mayor celebrated the final beam being placed atop the redeveloped Quelle building, a monumental 1950s symbol of postwar Germany’s economic revival. Revamped with offices, shops and homes, a big part of the giant complex was slated to open in 2024.Most Read from BloombergAlmost Anyone Can Become the House Speaker, Except Donald TrumpKey Taiwan Tech Firms Helping Huawei With China Chip PlantsOzempic Is Making People Buy Less Food, Walmart...

Germany has suffered more than other western European countries from their embargo on Russian gas, oil and coal imports. Several of its most energy-intensive heavy industry plants have been forced to shut down.