La Hulpe (Belgium), 24 June 2024
The transaction completed through the subsidiaries Leaselex and Freelex marks a significant milestone in the development of the European Quarter of Brussels. It successfully crowns eight years of urban planning, resulting in a unique benchmark project. The 26,000 sq.m. Conference Center will become an iconic landmark in this district, one of the most soughtafter office hubs in Brussels, where the highest rents in Belgium can be achieved.
The land transfer to the OIB (Office of Infrastructure and Logistics – Brussels) was finalized on June 21 for an initial amount of 88 million euros.
Subsequent payments will be made monthly as construction progresses over 42 months.
For Atenor, this sale in its future state will immediately reduce consolidated net debt by 88 million euros and positively impact the gross margin starting in 2024. The total contribution of this sale to the results, in line with Atenor’s business model, will be accounted for as the work progresses until 2028.
Stéphan Sonneville, CEO of Atenor, expresses his satisfaction: “The Conference Center will be an emblematic and referential building in the heart of the European Quarter, a district where Atenor has been active for over 30 years, and brought with it ambition and attractiveness. Selected from an international competition, this project, symbolizing our commitment to environmental and architectural excellence, can finally begin after years of complicated permit procedures.”
Further information on the project: The REALEX project, located on Rue de la Loi 91–105, 1040 Brussels, includes several separate entities, being the 26.000 sq.m. Conference Centre, an adjacent 18.000 sq.m. office building, complemented with two retail units and a static townhouse. The project provides 220 underground car – and 245 bicycle parking’s. A green public esplanade connects Rue de la Loi and Rue Jacques de Lalaing, while encouraging inner-city biodiversity. REALEX’s commitment to sustainable future proof real estate is evident using an energy performant solar panel facade. This development perfectly illustrates ATEN
For further information please contact: Stephanie Geeraerts, Corporate Communication & Investor Relations Manager - [email protected] Sheelam Chadha, Country Director Belgium - [email protected]
