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Metall Zug Group: New office building for VZ Depository Bank at Tech Cluster Zug

·4-min read

Metall Zug AG / Key word(s): Agreement/Real Estate

09-Feb-2021 / 06:31 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Zug, February 9, 2021 - Urban Assets Zug Ltd and VZ Depositors Bank Ltd have signed a letter of intent for the construction of a high-rise office block on the Tech Cluster Zug site to serve as the new headquarters of VZ Depository Bank. The development of the project should be completed in 2021.

Urban Assets Zug Ltd, a subsidiary of Metall Zug Ltd, and VZ Depository Bank Ltd have signed a letter of intent for the construction of VZ Depository Bank Ltd's new head office, with around 6,000 m2 of main usable space, on the Tech Cluster Zug site. VZ Depository Bank Ltd intends to acquire the CreaTower East building, together with the associated plot of land measuring around 700m2 under the floor area of the building. There are no plans to sell further plots of land on the Tech Cluster Zug site.

VZ Depository Bank Ltd belongs to the VZ Group, as does the VZ Vermögenszentrum and is also an innovative financial services provider in the fintech sector. It therefore fits well into the ecosystem of the Tech Cluster Zug.

The planned project will kick-start the overall development of the CreaTowers construction site, situated between Baarerstrasse and Industriestrasse in Zug. This marks another great leap forward for the Tech Cluster Zug, after the recent announcement of the project for SHL Medical AG in November 2020.

A total of two towers and a base structure are to be constructed on the plot of land on which the high-rise building will stand. CreaTowers East will rise to a maximum building height of 40 m and CreaTowers West to a maximum building height of 60 m. The CreaTowers plot is currently being used as a car park for visitors to the ZUGORAMA and employees of V-ZUG. As soon as the Mobility Hub Zug North comes into operation in 2022, most of these parking spaces will no longer be required.

Urban Assets Zug Ltd will develop CreaTowers East and CreaTowers West as a combined project. CreaTowers East will serve as the headquarters of VZ Depository Bank Ltd. CreaTowers West will be constructed later in a second step and is intended for urban and residential use, among others. A joint underground car park is planned for the entire CreaTowers development.

The architectural design competition should be completed in 2021 and the building application submitted in 2022 so that CreaTower East will be ready for occupancy by 2025.

About the Tech Cluster Zug

The Tech Cluster Zug is being created on V-ZUG Ltd's main site in the city of Zug and sends out a clear signal about the future of industry in Switzerland. With the intent of strategically transforming the production site, V-ZUG is currently taking steps to modernize its production facilities and concentrate them geographically in the north of the site. This will facilitate the development of an attractive ecosystem, where additional industrial enterprises, technology-related services, start-ups, as well asresearch and educational institutions can take up residence. The project's aim is to create a future-proof urban area that strengthens Zug as a location for industry and positions itself as a sustainable site with construction, mobility and energy supply solutions that point the way forward.

About VZ Depotbank Bank Ltd

VZ Depotbank Bank Ltd is part of the VZ Group (VZ). VZ is a Swiss financial services provider and shares of VZ Holding Ltd are listed on SIX Swiss Exchange. Retirement planning and inheritance advice, wealth management for private individuals and the management of company insurance and pension schemes are the key services provided by VZ Group. VZ Holding AG is headquartered in Zug, and the VZ Group is present at a further 34 locations throughout Switzerland and in Germany.

About the Metall Zug Group

Metall Zug is a group of industrial companies headquartered in Zug. The Group has around 3,000 employees and comprises five Business Units:

The holding company Metall Zug Ltd is listed in the Swiss Reporting Standard of SIX Swiss Exchange in Zurich (type B registered shares: securities number 3982108, ticker symbol METN).

Legal Notes

The expectations expressed in this press release are based on assumptions. Actual results may vary from those anticipated. This press release is published in German and English. The German version is binding. Metall Zug Ltd processes personal data in accordance with its privacy statement available under: https://www.metallzug.ch/en/datenschutzerklaerung.

Key dates

March 18, 2021 Full-Year Results 2020
April 30, 2021 Annual General Meeting 2021
August 16, 2021 Half-Year Results 2021

Further information

Daniel Keist
Chief Financial Officer
Phone: +41 58 768 60 50

Christof Gassner
Head of Corporate Communications & IR
Phone: +41 58 767 60 50

or: investorrelations@metallzug.ch

The press release is available at https://www.metallzug.ch/en/medien/medienmitteilungen


End of ad hoc announcement

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