The construction of the Y-Towers project in Amsterdam will restart in January 2020. The Italian contractor Rizzani de Eccher signed for the realization of the two sky scrapers, accommodating a conference hotel and residential apartments. The opening of Y-Towers is planned for the first quarter of 2023.
After a hold-up of nearly eighteen months, construction work is now set to commence in the Overhoeks development zone in the north of Amsterdam. The development of Y-Towers – one of Amsterdam’s most spectacular large-scale projects – will get under way in January 2020 and has been made possible by investment from Hamburg-based real estate investment manager Union Investment. In December 2019 they announced that they signed Rizzani de Eccher as the general contractor for the ambitious project.
Conference hotel and residential building
At 110 metres, the tallest building of Amsterdam Noord will accommodate a Maritim-branded conference hotel with over 6,000 square meters of conference space, 579 rooms, wellness facility and various bars and restaurants. In the 101-metre-high tower 174 high-end rental apartments will be realized. The lower seven floors of the residential block are reserved for a modern extended stay concept. Marketing of the rental apartments is due to begin in 2021.
“The residents of the tower and surrounding developments will be able to make use of the apartment hotel’s concierge services and the Maritim hotel’s restaurants. The bars and restaurants on the 32nd and 33rd floors will also attract additional visitors and tourists,” said Volker Noack, a member of the management team at Union Investment Real Estate GmbH. “In implementing the Y-Towers project, we are delighted to contribute to the development of this location and pleased that our investment will significantly boost its attractiveness.”
About Union Investment
Union Investment has been investing in real estate in the Netherlands since 2006. In Amsterdam, it currently holds a portfolio of 10 office and hotel properties worth EUR 1.2 billion in total. They include the ITO and SOM office complex and three hotels operated under the Radisson Blu, Crowne Plaza and Motel One brands.