The next phase of the Alter Wall neighbourhood development is taking tangible form. In a festive public ceremony attended by prominent Hamburg politicians, distinguished guests, and Art-Invest Real Estate's leadership, the foundation stone was laid at Alter Wall 40. Minutes later, following the traditional topping-out address, the ceremonial crown was hoisted at Alter Wall 38—the future home of Hamburg's Parliament.

In 2023, Hamburg Parliament secured a long-term lease for all office floors and portions of the ground level. The new Parliament building—mere steps from Hamburg's historic City Hall—will unite the state parliament administration and parliamentary groups under one roof, consolidating five separate locations into two nearby, centralized addresses. The renowned Joh. Albrecht brewery will return to occupy the ground and basement floors. Both the Parliament and dining establishments are expected to open at the end of 2025. The final piece of the neighbourhood development, Alter Wall 40, is scheduled for completion by the end of 2026, featuring an attractive

"Throughout my career, I've had the privilege of guiding many exciting real estate projects, but Alter Wall holds a special place for me. Rarely do you get the opportunity to develop a project in such a prominent location. The challenges were immense: preserving impressive historical architecture while executing a technically and creatively demanding vision. None of this would be possible without our people—their teamwork, their commitment to learning every single day. People are what make the difference. This remains true as we move toward completion of Alter Wall 38 and 40. In the future Parliament building, people will shape Hamburg's political future. At Alter Wall 40, residents will call apartments and the new Hoxton hotel home, professionals will work in state-of-the-art offices, all contributing to an even more vibrant neighbourhood. That's what drives us: to create forward-thinking momentum through how this space will be lived and experienced," says Dr. Markus Wiedenmann, CEO of Art-Invest Real Estate.

"This is a milestone on a journey that spans over two decades. We first envisioned a Parliament building many years ago, and with the revitalization of Alter Wall, that vision has finally come home. A modern workspace for our parliamentary groups and administration strengthens the foundation for democratic processes that serve our city and its citizens. Art-Invest has proven to be a reliable and collaborative partner every step of the way. The rebirth of Alter Wall as a vibrant boulevard connecting the Alster and Elbe represents a wonderful enrichment for Hamburg's city centre," says Parliament President Carola Veit.

"The section from Alter Wall 2 to 32 has become one of Hamburg's most bustling destinations, and its distinctive historical architecture has established it as an urban landmark. Now, reimagining the rear portion of Alter Wall gives us the rare opportunity to develop nearly an entire street—from Rathausmarkt to Rödingsmarkt. That's extraordinary. What makes it even more special is our approach: we're bringing residential life back to the city centre and creating something truly distinctive—an experience that stands apart. Urban centres need bold new ideas to win back visitors and residents. With Alter Wall, we're creating a place of rare character and genuine quality—something Hamburg hasn't seen before," says Martin Wolfrat, Partner and Head of Hamburg at Art-Invest Real Estate.