Our activities in Belgium

“As set out in our five-year business plan, 2017 was a year of transition and international expansion.” Alexander HODAC,
CEO IMMOBEL BELGIUM
  • Residential
  • Offices
  • Mixed-use
  • Landbanking
665.300 M²
total of the belgian portfolio
73.000 M²
offices
3.500
residential units
410 HA
landbanking

Market Analysis

Offices
  • Prime rental rates increase to 315 EUR/m²/year for the best Brussels offices.
  • Take-up of flexible offices in 2017 is estimated at 20,250 m² in Brussels.
  • New space in larger regional cities are experiencing strong corporate activity.
Residential
  • Preliminary apartment prices through Q3 2017 in Belgium increased 2.6 % y-o-y to 227,100 EUR.
  • Residential construction is among record highs, adding more than 50,000 new units last year.
  • In Wallonia, Namur and Charleroi saw marginal increases in residential prices.
Landbanking
  • The sale of building plots has been falling over the long term.
  • Average building lot prices have roughly doubled in the last decade and are at 119 EUR/m² in Belgium (2014).
  • Land scarcity and planning departments have been encouraging brownfield and in-town development.
Download the market analysis

Our projects in 2017

Residential

  • Universalis Park - Brussels
    • Phase 1: 15.000 m² - 65 % sold.
  • O‘sea - Oostende
    • Phase 1 (O’Sea Charme): ongoing - 50 % sold.
  • Belair (RAC 4) - Brussels
    • The procedure of the environmental impact study is ongoing, whereby a different architecture is being examined.
    • Architect Max Dudler joined the project team and a first proposal was presented.
    • The environmental permit should be obtained by the end of 2018.
  • Ernest - Brussels
    • Phase 1:
      • Residence for students and the elderly - 100 % sold and delivered in full.
      • Residential spaces: 99 % sold and delivered in full.
    • Phase 2:
      • dwellings for sale (more than 50 % sold), retail, kindergartens and liberal professions on sale. Construction site ongoing.
      • Hotel part - 100 % sold.
      • Parking “Keyenveld”: 53 % sold.
  • Domaine des vallées - Grez-Doiceau
    • Phase 1: 90 % sold.
    • Phase 2: 50 % sold.
    • 169 units out of 210 are sold.
  • îlot Saint-Roch - Nivelles
    • First phase of remediation finalized and approved.
    • Optimization of the program.
    • Regular meetings with the City of Nivelles.
    • Validation of the schedule and the new masterplan with the City of Nivelles.
  • Lake Front - Knokke-Heist
    • Phase 1: delivered - 100 % sold.
    • Phase 2: delivery planned in Q2/3 2018 - 95 % sold.
  • Parc Seny - Auderghem
    • Dismantling finalised.
    • Finalisation of the work contract.
    • Definitive amending permit obtained in Q4 2017.
    • Marketing started in June 2017 – 35 % sold.
  • Vaartkom - Leuven
    • Obtention of a planning permission in Q4 2017.
    • The offices were sold to an end user.
    • Finalizing of agreements on the services residences, after which the sale can take place.
  • Riverview - Nieupoort
    • Provisional acceptance of the first apartments in Q3 2017 – 83 % sold.
  • Royal Louise - Brussels
    • Executable planning permission obtained in Q3 2017.
    • Preparation of the commercialization.
  • Greenhill Park - Brussels
    • Construction started Q3 2017.
    • 15 units out of 31 sold - 48 % sold.
  • Koningslaan - Knokke-Heist
    • Submission of planning permission.
    • Public investigation started in January 2018.
  • ‘T Zout - Koksijde
    • Start of commercialization in Q3 2017.
    • Start of construction Q4 2017.
    • 7 units out of 54 sold – 13 % sold.
  • Parc Saint-Anne - Auderghem
    • 22 units out of 26 are sold – 85 % sold.

Offices

  • Möbius - Brussels
    • Permits obtained in December 2017.
    • Tower I (fully occupied by Allianz): the definitive program has been developed.
    • Tower II: contacts with potential occupants have been made, without concrete discussions yet.

Mixed-use

Landbanking