By purchasing the area at Seidlstraße 15 to 19, Apple is showing its generosity towards the Free State, as the Süddeutsche Zeitung writes. The purchase price of €251 million is €30 million above the market value. However, the advantages for the iPhone manufacturer are likely to outweigh the disadvantages, not only because of the expected increase in value – after all, the "Karl" office building, where the company plans to move with 1,500 employees, is located right next door. And Google's development center is being built in the nearby Postpalast.
The sale of the site was initiated by the CSU parliamentary group in the state parliament. Josef Zellmeier, budget policy spokesman for the CSU parliamentary group, explains:
"The sale is a unique opportunity for Bavaria. Apple is investing and creating sustainable jobs. This shows that Bavaria's first-class education system and commitment to cutting-edge science are paying off. There is no comparable location for high-tech companies in Germany. Microsoft and Google already have their headquarters in Munich."
One billion euros for Munich
Already in 2021, Apple announced that it would to invest 1 billion euros in MunichThe company's activities are centered on the establishment of the so-called "Silicon Design Center." The goal is to no longer outsource computer chips to suppliers, but to design them in-house at this chip development center.
When announcing these investment plans two years ago, Apple CEO Tim Cook stated:
"I couldn't be more excited about what our engineering teams in Munich will discover—from exploring new possibilities in 5G technology to a new generation of technologies that will enable even greater power, speed, and connectivity. Munich has been a home for Apple for four decades, and we are grateful to the city and Germany for what we have achieved together and look forward to the road ahead."
