Fraport AG’s real estate subsidiary, Fraport Immobilienservice und -entwicklungs GmbH & Co. KG of Florsheim am Main, Germany, started construction on its Monchhof development area, which stretches along the…
Fraport AG’s real estate subsidiary, Fraport Immobilienservice und -entwicklungs GmbH & Co. KG of Florsheim am Main, Germany, started construction on its Monchhof development area, which stretches along the southern bank of the Main River near Frankfurt Airport (FRA).
Fraport acquired the approximately 110-hectare large Monchhof site in 2004/2005 to develop real estate for logistics companies, in particular. Now vacant, the Monchhof industrial area previously housed a Caltex petroleum refinery well into the 1980s. Fraport’s Monchhof real estate development is expected to generate thousands of new jobs in the medium term.
Phase one of the project will focus on the western portion of Monchhof: creating serviced sites (i.e., utility lines) and building roads.
Commenting on the preparatory work, Gitta Mir-Ali, managing director of Fraport Immobilienservice und -entwicklungs GmbH & Co. KG, said “We are engaged in very promising negotiations with various companies wishing to locate at Monchhof and by commencing site preparation we want to offer clients the ideal prerequisites for getting quickly established here. Key advantages of Monchhof include proximity to the FRA global air transportation hub and excellent road links to the A3 and A67 autobahns as well as the B43 highway. Along with forwarding companies and other logistics specialists, we believe Monchhof is attractive for companies needing general office space and associated service facilities.”
The project launch is an important signal for the communities of Raunheim and Kelsterbach, where the promising Monchhof lands are located. “The development of this site is now reaching fruition. Because of its outstanding location, Monchhof will rank as one of the top major commercial real estate sites in the Frankfurt/Rhine-Main region,” said Raunheim mayor Thomas Juhe and Kelsterbach city councillor Manfred Ockel.
“Together, we still have a few matters to work out,” explained the two municipal representatives regarding discussions with Fraport’s real estate subsidiary about developing further areas of the Monchhof site for commercial utilization. “The key issue right now is to meet as quickly as possible the requirements of existing clients wanting to settle at Monchhof.”
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