Metall Zug (SIX: METN) has concluded financing for the further development of the Tech Cluster Zug (TCZ) through a syndicated loan agreement of CHF 220 million with an increase option of CHF 50 million. The loan, led by Zürcher Kantonalbank, refinances existing bank loans and secures funding for upcoming real estate projects over a four-year term, with a one-year extension option. The facility is secured by a mortgage with a maximum loan-to-value ratio of 45%.
With the ongoing development of TCZ, the financing requirements of the Metall Zug Group have steadily increased. The syndicated loan provides stable funding for the next phases of development. Various real estate projects on the Tech Cluster Zug site have made encouraging progress this year.
The building shell of the SHL project will be completed by the end of 2025, with handover of the combined production and office building planned for mid-2026. This project demonstrates the feasibility of industrial production in an urban context, adjacent to V-ZUG, and the long-term lease agreement ensures stable cash flows.
For the Crea Tower I project, the building permit has been granted and groundbreaking has taken place. Completion of the building shell is scheduled for 2028. The innovative RFS ceilings significantly reduce mass compared to conventional systems, saving around 46% in CO2 emissions. Sale of the building to VZ Depository Bank in 2028 will result in an appreciation gain, as the associated land is recorded at historical acquisition costs.
Project Pi represents a core element in the sustainable development of the Tech Cluster Zug, focusing on affordable housing in central Zug within walking distance of the Tech Cluster, attractive high-rise living within vertical communities, and architecture tailored to the location. Despite an administrative complaint filed in March 2025, the Tech Cluster is maintaining its commitment to Project Pi and the GIBZ development plan.
This financing ensures the continued transformation of the Tech Cluster Zug into a vibrant, mixed-use urban quarter, supporting both industrial and residential development while maintaining financial stability.
