IMMOBEL Luxembourg, a subsidiary of the IMMOBEL Group, recorded positive results in 2018 and added to its Luxembourg portfolio with the acquisition of 52,000 m² in premium locations in the capital and its surroundings.
Fifteen years after its first local project, IMMOBEL Luxembourg now has assets of nearly 130,000 m² under development. In just a few years, the Group has considerably reinforced its presence in the Luxembourg market, particularly in the capital’s most sought-after districts. The IMMOBEL Luxembourg team met its targets between 2018 and 2019, and added to its portfolio in premium locations, linked particularly to large-scale operations.
These included the acquisition of 1.5 hectares of land for approximately 22,600 m² of development in the Laangfur PAP area (PAP = Special Development Plan) in Kirchberg, which provides for the development of a new district covering over 360,000 m². IMMOBEL has also announced the signature of an agreement for the acquisition of land currently occupied by several retailers situated between Rue de Hollerich and Rue de l’Aciérie in Luxembourg. The project will contribute towards the renewal of a rapidly-changing district, with the creation of a hundred housing units, offices and shops on nearly 10,000 m².
In Luxembourg, IMMOBEL has built up a solid portfolio of references: K-Point in Kirchberg, Vertigo in Cloche d’Or, Aire/Lavandier in Hollerich and the Kons building at the station, developed in partnership with BPI and Besix RED. The large-scale INFINITY and Polvermillen projects, the NOVA administrative building (formerly Centre Étoile) and the projects developed in partnership with BPI and Félix Giorgetti – Fuussbann in Differdange and Livingstone on Route d’Esch – will soon be joining this list.
In a context of land shortage, IMMOBEL Luxembourg will continue to give preference to the what it considers to be the best locations, with the aim of developing the products that the market wants: central location, connections to existing infrastructures, non-polluting mobility, integration into nature, heritage and the fundamental notion of sustainable development and quality of life as part of innovative projects
Over the last two years, IMMOBEL has worked constantly to extend its activities. The Luxembourg subsidiary’s strategy has meant that it is now in a position to present results that are totally in line with Group objectives. This alignment in terms of strategic and geographical diversification and sales results supports and guarantees prospects of steady growth. In line with Group forecasts, these results reflect the transitional nature of the past year: asset consolidation, team reinforcement, acquisition of new plots of land, geographical and sector-specific expansion.
IMMOBEL Luxembourg currently has nine projects in progress and future developments, seven projects developed and employs nineteen people.