Construction on the new structure is due to begin later this year after designs were presented to city representatives, the shipyard and architect's office earlier this month. The dock is due to complete construction in 2022.
Designed by German architect Werner Sobek, the new structure will be integrated into Hamburg harbour and will enable the yard to better carry out confidential projects and protect yachts against bad weather.
Chairman of the supervisory board for Blohm + Voss, Klaus Borgschulte, said: “The renovation enables us to significantly expand the range of repairs and refit services for existing and potential customers of yachts, naval and cruise ships."
He added: "We will significantly improve the working conditions for our employees and make ourselves less dependent on the weather. Thanks to the new roof, we will be able to also significantly reduce noise emissions and energy consumption.”
It comes after Lürssen acquired the shipyard in 2016 in one of the biggest superyacht mergers in history.
The German yard revealed that, following the conversion of the dock, it will have invested a total of over €33 million in the new facility.