PSJ Bau held a cornerstone ceremony for its €10.5m residential project Merkur I in Dresden. Construction broke ground in January. The project will offer 62 flats on seven floors, with underground parking on two floors. For PSJ, the project marks a return to the German market after 20 years. PSJ Bau will oversee construction, scheduled for completion in the second quarter of 2016. The German consortium Baywobau CTR is the project’s developer and investor. Eva Reinöhl, the Czech consul in Dresden, attended the cornerstone ceremony. Postbank will lease the retail space on the ground level.
