Siemens Switzerland will stay in Zurich-Albisrieden, but no longer as owner. The technology group has sold its industrial and office site to real estate investor Procimmo, which announced the deal on Thursday. Siemens Switzerland's new headquarters will be built on the same plot, with completion scheduled by mid-2031.

A 30,500-square-metre site changes hands

According to Procimmo, the Siemens site covers 30,500 square metres of land and offers around 35,900 square metres of floor space. The sale price has not been disclosed: the parties agreed to keep it confidential, a Siemens spokesperson told the AWP news agency. It is therefore not possible to assess the transaction against the Zurich commercial property market.

The division of roles, however, is clear. The new owner will finance and build the future building. The amount of this investment has not been published, nor has the construction timetable beyond the mid-2031 deadline.

Remaining a tenant during construction

The new headquarters will be built in the north-western part of the site, on an area currently used as a car park. Until completion, Siemens will continue to rent part of the existing buildings. The vacated space will then be re-let or put to other uses.

For the company, the arrangement has a practical advantage: operations continue on site during construction, with no interim move. The available sources do not, however, specify the length or terms of the lease, nor the future use of the current buildings.

Around 800 jobs affected in Zurich

Siemens currently employs some 800 people at its Zurich site. According to the spokesperson, all of these employees should be accommodated in the new headquarters. The company expects moderate growth in its workforce ahead of the move planned for 2031. This is an expectation, not a quantified commitment: no headcount target has been put forward. Siemens also states that no merger of existing sites is being considered at this stage.

Historic roots in Zurich-Albisrieden

Siemens has been based in Zurich-Albisrieden for more than 100 years. With this project, the group affirms its long-term commitment to the district. It plans to create an open campus there, designed to foster collaboration with other companies and start-ups. It also cites the site's good transport connections as a reason to stay.

Selling the premises while committing to stay may seem paradoxical. In fact, the transaction separates property ownership from location: Siemens Switzerland is giving up the land, but keeping its historic address and a new building constructed by a third party.

Wallisellen, Siemens Switzerland's other construction project

The Zurich headquarters is not the group's only investment in the region. Siemens is currently investing around 110 million francs in the expansion of its Wallisellen campus. A new building there is due to be completed by 2029. It will provide office, development and production space for around 1,000 employees.

These projects follow different financing approaches: in Wallisellen, Siemens is investing in the extension itself; in Albisrieden, construction is being carried out by the new owner. Taken together, they point to a stronger presence for the group in the Zurich metropolitan area by 2031.

Sources