Our activities in Luxembourg

“In 2017 we were able to take advantage of a particularly dynamic real estate market in Luxembourg, with the launch of two large-scale projects, INFINITY and Polvermillen.” Olivier BASTIN,
CEO IMMOBEL LUXEMBOURG
  • Residential
  • Offices
  • Mixed-use
107.400 M²
total of the Luxembourg portfolio
11.800 M²
offices
655
residential units
14.000 M²
retail

Market Analysis

Offices
  • A robust economy is helping to support strong office take-up.
  • Office investment in Luxembourg totalled more than 1 billion EUR in 2017.
  • Office availabilities count just 4.4 % at the end of 2017.
Residential
  • Sustained demand has pushed prices of new apartments in the city above 7,000 EUR/m².
  • More than half of new residential development in Luxembourg concerns apartments.
  • Growth in housing prices has far exceeded rental growth.
Retail
  • High street prime rent of 215 EUR/m²/month has seen impressive growth in recent years.
  • Retail take-up of 30,000 m² was roughly unchanged from 2016.
  • Projects totalling 66,500 m² were completed in 2017.
Download the market analysis

Our projects in 2017

Residential

  • LIVINGSTONE - City of Luxembourg
    • Phase 1:
      • Submission of the planning permission application in early July 2017.
      • 101 units out of 135 are reserved - 77 % reserved.
      • A long-term lease contract was concluded on the most important commercial surface.
    • Phase 2:
      • Submission of the planning permission application in end of July 2017.
      • Marketing started mid-October 2017.
      • 22 units out of 42 are reserved - 19 % reserved.
  • POLVERMILLEN - City of Luxembourg
    • Phase 1: Submission of the planning permission application in November 2017.
  • FUUSSBANN - Differdange
    • The construction has started in February 2017.
    • 36 units out of 48 are sold – 75 % sold.
    • The most important commercial surface is sold.

Offices

Mixed-use

  • INFINITY - City of Luxembourg
    • Start of construction in October 2017.
    • Earthworks achieved for the Working & Shopping part.
    • 118 units out of 150 are reserved - 80 % reserved.
    • 100 % of the commercial and office areas are already rented.
    • 2 of the 3 conditions precedent were raised in December 2017 for the sale of the company Working & Shopping scheduled for end 2019. The construction of the building is the only condition precedents remaining before the transfer.