Excavators can start rolling in Bulle FR. Geneva Rolex Group is looking to buy construction land for CHF 31.4 million. The watch manufacturer wants to set up a 2,000-person production facility here.
Bulle FR municipal officials made the planned land sale public on Friday. The General Council will evaluate the project on 12 December. The total area of the four parcels is 105,000 square meters, which is the size of 15 football fields. The selling price per square meter is 300 francs.
«Flagship of the Swiss watch industry»
The site is close to the A12 motorway. Mayor Jacques Morand spoke of an extraordinary opportunity to sell the site to “the flagship of the Swiss watch industry”.
The construction project requires the correction of the detailed zoning plan, as it was not thought that the parcels would be sold to a single company before. The settlement is part of the economic development of the city of Bulle and the region, whose population has increased compared to the previous year.
Production will start in 2029
The Rolex manufacturing facility in Bulle is scheduled to open in 2029. The watch manufacturer currently has branches in Geneva and Biel. According to observers, Bulle was chosen because it is geographically central to the town of Gruyere, which is also important for the shortage of skilled workers.
The land in Bulle was purchased by the municipality for CHF 12.2 million in 2014. In 2020, the General Council approved another 8 million for development that has not yet been realized.
The Rolex watch brand is owned by the Hans Wilsdorf Foundation. The company, which is not listed on the stock exchange, does not publish any figures. According to industry sources, one million Rolex watches are produced each year, double the demand.
According to Bank Morgan Stanley, the Rolex Group generated sales of 8 billion francs in 2021, corresponding to a 30 percent growth. Of the 14,000 employees worldwide, 9,000 work in Switzerland.(SDA)