Hines Immobilien GmbH, in collaboration with its joint venture partner Vastint, has completed the acquisition of the Glasmacherviertel in Düsseldorf-Gerresheim. The contracts for the asset deal with LEG Immobilien SE became effective on 13 October 2026. This transaction marks a long-term commitment by both companies to the Düsseldorf residential property market, aiming to enrich the urban area with new housing and complementary infrastructure.
The acquired area covers approximately 193,000 square metres. Planning envisages the development of an urban quarter predominantly focused on residential use. According to the current concept, between 1,600 and 1,800 residential units are to be created. In addition, provisions for local amenities, gastronomy, and social infrastructure are planned to ensure a high quality of life in the quarter.
Comprehensive Development Concept
The planning concept anticipates a gross floor area of approximately 210,000 square metres, at least 80 percent of which is designated for residential purposes. The project development will also integrate public green spaces to enhance the attractiveness and recreational value of the area. Special attention is paid to preserving three historical buildings, which are to remain as testimonies to the site's industrial past.
Until 2005, the Glasmacherviertel site served as an industrial location for the Gerresheimer Glashütte. After the factory's closure and the extensive dismantling of industrial facilities, a large part of the area lay fallow. Hines and Vastint intend to create additional housing through this joint project development and to meaningfully complement the existing urban environment in Düsseldorf-Gerresheim. The development will proceed in several construction phases.
Legal Counsel and Future Prospects
Hines Immobilien GmbH received legal support from the commercial law firm Friedrich Graf von Westphalen & Partner. The specific design of the project is currently the subject of an ongoing planning and approval process. Hines is an internationally active real estate platform with a focus on property development and investment management. Vastint specialises in the development, ownership, and management of residential properties, office buildings, and hotels in Europe.
