HafenCity (ˈhaːfn̩ˌsɪtiː) is a quarter in the borough of Hamburg-Mitte, Hamburg, Germany, and Europe. It is located on the Elbe river island Grasbrook, on the former Port of Hamburg area. It was formally established in 2008 and also includes the historical Speicherstadt area, which since 2015 is an UNESCO World Heritage Site with the adjacent Kontorhausviertel. The main landmark of the HafenCity is the Elbphilharmonie concert hall. In a narrower sense, HafenCity Hamburg is a project of urban regeneration where the "Grosser Grasbrook" area of the former Hamburg free port is being revitalised with new hotels, shops, office buildings, and residential areas. The project is considered the largest urban redevelopment project in Europe by landmass (approximately ). With the decreased economic importance of free ports in an era of European Union free trade, large container ships, and increased border security, the Hamburg free port was reduced in size, relieving the current HafenCity area of its restrictions. The ground-breaking ceremony was held on 20 June 2001, with the first quarter called "Am Dalmannkai/Sandtorkai" – next to the Elbphilharmonie – completed in 2009. When completely developed, the HafenCity area is projected to be home to about 12,000 people and the workplace of 40,000 people. On 1 March 2008, HafenCity was declared to be a separate district through the Law Concerning the Spatial Division of the Free and Hanseatic City of Hamburg (Gesetz über die räumliche Gliederung der Freien und Hansestadt Hamburg) - RäumGlG. It is composed of the former harbor of Großen Grasbrooks as well as the warehouse district on the islands of Kehrwieder and Wandrahm. Together, this borders the districts of Altstadt, Rothenburgsort, and the former district of Klostertor. On 20 February 2007, a decree of the Senate established the exact border delineation of both parts of the new district. Just over four years earlier, on 1 January 2003, the area was removed from the duty-free zone of Hamburg to allow construction of housing and associated infrastructure.