Siemens plans €600m Berlin scheme
Siemens is planning to invest upwards of €600m in the Berlin neighborhood of Spandau in a project called Science Campus Siemensstadt. Located on 70 ha of land, the project is envisioned as a location that brings together science, research, universities and start-ups that will allow the company to be more competitive in coming up with new digital products in the coming era of Industry 4.0. The company is hoping to leverage the city's growing IT sector as well as the apparently sympathetic ear of mayor Michal Muller in planning and carrying out the scheme. Along with commercial space, an additional 200,000 sqm of new residential space is to be created, much of it to be offered at affordable rents. The company seems to have taken on board demonstrations by its own employees a year ago in this part of Berlin in which they demanded progress that didn't require job cuts.