ABB has successfully completed the sale of a 7,000 square-meter property on a former industrial site in Zurich Oerlikon to real estate service provider Pensimo. Based in Zurich, Pensimo invests in real estate on behalf of Swiss pension funds. By selling the property, which ABB no longer requires as a strategic land reserve, the company is enabling the further development of the Neu-Oerlikon district. The new owner, Pensimo, plans to develop the site over the next few years with around 500 apartments, including a high-rise building and commercial space. ABB will remain closely connected to Zurich Oerlikon, where the group’s global headquarters has been located since the merger of BBC and ASEA in 1988.