Greater Hanover is the most important economic region in Lower Saxony, one of the largest German states in terms of geographic size.
Large parts of Northern Germany depend on Hanover as a transportation hub, administrative heart and financial centre. A large number of trading companies, members of the skilled trades and industrial companies serve customers across a wide range of domestic and international markets. Hanover’s strengths have traditionally been in vehicle manufacturing, engineering and the respective supplier industries, with Volkswagen AG’s commercial vehicle division being the largest local employer.
Hanover is also known internationally for its trade fairs, playing host to leading events such as CeBIT and the Hannover Messe industrial exhibition. Moreover, the city is one of the top addresses in Germany’s insurance sector, and major financial services providers have their headquarters or branch offices there. The city’s services sector continues to experience steady growth in the areas of transportation, logistics, communication, tourism, conferencing and events management. All told, Hanover is among the most interesting German markets for commercial real estate investment.