In 2018, IMMOBEL expanded its portfolio in Luxembourg with the acquisition of four new developments, representing 52,000m², in the city of Luxembourg and its immediate surroundings. Despite the scarcity of land in Luxembourg, IMMOBEL is today developing a total area of 130,000m², consisting mainly of residential schemes.
A new lease of life for rue de Hollerich
IMMOBEL Luxembourg has concluded an agreement on the land at 81-83 rue de Hollerich for the development of a new residential block. The project involves the creation of around a hundred dwellings, offices and shops over an area of almost 10,000m². In close proximity to the station, the parc de Cessange and a wide range of amenities, the “Rue de Hollerich” programme is part of a PAP (Specific Development Plan) project covering more than 1.7 hectares in the heart of a rapidly changing district. This development will be undertaken through the close collaboration of several landowners, including consortium members Koch and IMMOBEL.
A long-term vision for the Laangfur project
IMMOBEL, which already has a presence in Kirchberg with the INFINITY project, is aiming to develop an area of around 22,600m2 in the longer term as a result of acquiring 1.5 hectares of land opposite the European School. The development will be located within the “Laangfur PAP” area. The new, sustainable district will comprise nearly 24 hectares, or 360,000m2, of new buildings, including around 2,700 dwellings along with some shops and offices.
Mamer, a popular location just outside the capital
The Mamer development, which is situated in an area that is very popular due to its tranquillity and proximity, will comprise 13,800m² of residential space. “We plan to develop a human-scale neighbourhood that will offer a coherent collection of small residences and houses in a natural setting”, explains Olivier Bastin, CEO of IMMOBEL Luxembourg.
Thomas, an office block in an area undergoing major development
Situated in Luxembourg-Strassen, the Thomas building (5,700m²) is currently 95% let with long-term leases. This acquisition will enable IMMOBEL to diversify its activities to include the management of assets in Luxembourg while working to redevelop the building over time.
An excellent year for IMMOBEL Luxembourg
“2018 was an excellent year, and all the indications are that the prospects for 2019 are good. On 15 May, we announced the sale of the company Centre Étoile, which owns the NOVA office block. This good news demonstrates the efficiency of the products we are developing. Ideally located, well served in terms of public transport and accessibility and offering flexible services of the highest quality, our developments satisfy all the expectations of a demanding and discerning market in the office and the residential sectors”, states Muriel SAM Head of Development IMMOBEL Luxembourg.
IMMOBEL has been working continuously on its expansion for two years. The momentum of the Luxembourg subsidiary is such that, today, it is able to deliver results that are fully in line with the Group’s objectives. This alignment in terms of both strategic and geographic diversification and commercial results nurtures and safeguards the prospects for steady growth. In the residential sector, the marketing of the Luxembourg projects currently being developed is excellent: INFINITY 99%, LIVINGSTONE 100% (across two of the three phases of the project, since the third phase is not yet available for sale), and FUSSBANN is 100% sold as of today.
IMMOBEL Luxembourg in brief
- 9 current projects and future developments: 130,900m²,
- 7 projects completed: 86,500m²,
- Representing assets of more than 215,000m² in premium locations,
- 19 employees.
IMMOBEL Group in brief
- 822,000m² of development projects,
- 6 countries,
- 5 sectors: office, residential, retail, landbanking, leisure,
- EUR 500m of market capitalisation,
- More than 155 years’ experience in the market,
- 200 employees.
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