The key point: Thierry Stern, head of Patek Philippe, has bought a villa in Cologny for 38 million francs, according to the business magazine Bilan.
A prestigious acquisition
- The property is located on Chemin de Ruth, one of the most expensive streets in Switzerland.
- It comprises two buildings on a large plot in Cologny.
- The seller, Thierry Halff, sits on the board of directors of Maus Frères, owner of Manor.
A buyer sheltered from the crisis
- Thierry Stern has headed the Geneva manufacture since 2009.
- Patek Philippe is weathering the watchmaking crisis without faltering, thanks to a strategy of scarcity.
- The purchase represents less than 1 % of the family fortune estimated by Bilanz.
Key figures
- CHF 38 million : price of the villa
- 5,628 m² : area of the plot
- 500 m² : living area, at least
- CHF 6.5 billion : estimated fortune of the Stern family
In short
The head of Patek Philippe is buying a luxury villa in Cologny, one of the country’s wealthiest municipalities. This transaction illustrates the strength of Geneva’s high-end property market.
