Adler Group: “Just ask that I get the property I bought”

SOne of the most famous construction sites in Berlin has been almost at a standstill for years. The 120 meter high “Steglitzer Kreisel” residential building from the 1970s in the southwest is actually to be converted into a modern building made of glass, steel and aluminium. “29 floors of living experience with breathtaking views over the city” promises a real estate agent on his website. 330 condominiums are planned.

But the Berliners see nothing but a scaffolded construction framework that has become a symbol for false speculation in construction and the return dreams of a listed real estate group: the owner is the Adler Group, which has gotten into turbulence. A homebuyer now has enough.