By forming an isolation structure that extends above the height level defined by the semiconductor material of an active region, respective recesses may be defined in combination with gate electrode structures of the completion of basic transistor structures. These recesses may be subsequently filled with an appropriate contact material, thereby forming large area contacts in a self-aligned manner without requiring deposition and patterning of an interlayer dielectric material. Thereafter, the first metallization layer may be formed, for instance, on the basis of well-established techniques wherein the metal lines may connect directly to respective “large area” contact elements.