Skeletons in the sky (and maybe in the closet)

The German construction industry is in crisis. Signa Holdings has gone bust. But its one of several building firms struggling to finish ambitious projects.

Photo by Palle Knudsen on Unsplash

Dear Reader,

I’m writing this newsletter from my living room which looks out over southern Berlin. It is a beautiful view that contains very little I could object to. Situated just outside the inner city, my neighbourhood was largely spared both the destruction of the Second World War and the awful mid-century architecture that plugged the subsequent gaps.

There is however one unavoidable blotch on this pleasant scene.

I say unavoidable because it is 120 metres in height, consists almost entirely of concrete and, for several years now, has been clad in scaffolding. On top, a crane swings in the wind, giving the impression that something akin to progress is taking place on this unsightly behemoth.

But that is an illusion. Nothing of note has happened at the Steglitzer Kreisel for years. It is perhaps Germany’s most famous Bauruine. Once a 1960s administrative building, it is now a half-finished luxury apartment complex left to loom over its neighbours sin…