Page "Potsdamer Platz" Paragraph 120

Whilst on the surface the new Potsdamer Platz appears so far to have lived up to its expectations as a futuristic centre of commerce at the heart of Europe's youngest capital city, there has been much debate as to just how successful it really is.

Certainly its long term success and viability have become much harder to judge since the recent worldwide economic downturn, a situation compounded by the actions of its two principal owner-occupiers.

Daimler and Sony caused a major surprise on 2 October 2007 when both announced that they were putting their respective complexes at Potsdamer Platz on the market.

Whilst neither intended to move out, both felt it preferable to rent the space from new owners rather than continue to be the owners themselves ( and so be responsible for the buildings ' upkeep and maintenance ).

Daimler had recently come through a painful separation from their former American subsidiary Chrysler and needed a quick injection of cash in order to refocus on automotive production.

Ironically, the announcement came on the ninth anniversary of their complex's official opening, a fact not lost on many people.

Sony meanwhile, put their decision down to a need to review their global strategy in the face of a fast-changing worldwide economic climate.

The implications for Potsdamer Platz were ominous, with suggestions that overall confidence in the project was faltering, and more pessimistic claims that the development had largely failed in its original intentions.