The transaction is structured as a partial sale-and-leaseback. Siemens will therefore remain on the site until it moves into the new building, continuing to lease part of the existing buildings and thus ensuring business continuity whilst the site is being developed.
New building on the car park site
The new Swiss headquarters is to be built in the north-western part of the site in Zurich-Albisrieden. The plan is to construct a new building on a plot currently used as a car park. According to the companies involved, completion is scheduled for mid-2031.
The second phase is particularly significant for the property market. Following Siemens’ relocation, existing spaces totalling around 35,900 square metres of lettable area will become available for re-letting or alternative use. This will transform a long-standing, owner-occupied corporate site into a development site with additional scope for commercialisation.
Long-term redevelopment rather than a withdrawal
This move does not signify a withdrawal from Zurich. Siemens has had a presence in Albisrieden for more than 100 years and intends to secure the site for the long term with the new building. The plan is for an open campus which, according to the published information, will also offer space for collaboration with other companies and start-ups.
No details have been provided regarding the purchase price. The buyer is Procimmo Real Estate SICAV Industrial, which announced the acquisition of the industrial and office site, as well as the development of the new headquarters, on 15 October 2026. For the owner, developer and marketing team, the site therefore represents less a simple sale than a multi-year repositioning of a major existing site in Zurich.
