“Panic sales are not to be expected”: After the construction stop for the Old Academy, TU professor Alain Thierstein explains why the Signa Group’s crisis may even represent an opportunity for the city.
The Signa Group of the Austrian investor René Benko has run into economic difficulties. As of this week, this has had a direct impact on Munich: there is a construction freeze at the Old Academy. Mayor Dieter Reiter (SPD) has issued a planning freeze for all further Signa projects. Alain Thierstein, who teaches as a professor of spatial development at the TU, advises calmness. The Signa properties would certainly be completed and the crisis could even bring improvements.