On March 27, 2025, ABB (ABB Schweiz AG) finalized the sale of approximately 25,500 square meters of land in Zurich Oerlikon to the City of Zurich. The transaction includes construction site D6 and parts of D7, located near ABB’s headquarters, and follows an urban development agreement signed between the two parties in 2021. The land will be used by the City to develop affordable housing, commercial spaces, cultural venues, and public open areas.
ABB expects to record a pre-tax operational gain of around 120 million Swiss francs and net cash proceeds of approximately 90 million Swiss francs from the sale in the first quarter of 2025. These figures reflect a rezoning value-added levy of nearly 17 million Swiss francs and compensation payments of around 22 million Swiss francs related to the relocation of affordable housing, both of which were stipulated in the original agreement.
Through this transaction, ABB is contributing to the City of Zurich’s efforts to expand affordable housing and revitalize the “Neu Oerlikon” neighborhood. A key component of the agreement ensures the long-term preservation of “Hall 550”—a former ABB site now serving as a prominent cultural venue. ABB’s corporate headquarters at Cityport and the ABB Historic Building adjacent to MFO-Park remain unaffected by the land sale.