SWISS logistics giant Kuehne + Nagel has moved into its new German headquarters in Hamburg's HafenCity, after investing EUR32 million (US$42.45 million) in land and property development.

Kuehne + Nagel started developing the premises in 2003 when it procured a 4,400-square-metre plot of municipal land. The new eleven-storey office has 13,000 square metres of floor space that will accommodate 700 employees.

"I'm pleased that we now again have a prestigious office building in Hamburg, my home town," said executive chairman of Kuehne + Nagel International, Klaus-Michael Kuehne. "Hamburg is one of the key locations within our global network, which today comprises 830 locations in more than 100 countries with over 46,000 employees."