Banimmo and City of Gent give concrete form to project The Loop (BE)

Banimmo has given concrete form to project The Loop in cooperation with the City of Gent. This project aims to revalue the entire zone around the Flanders Expo buildings in Gent. Through a Public-Private partnership with the City of Gent, Banimmo will work on the development of a 376,500m² site where the area around the exhibition halls will be reserved for offices, housing, retail and leisure.

The NV Schoonmeers Bugten, in which Banimmo has 50% participation, has brought in its grounds in Gent situated around the exposition halls of Flanders Expo and the R4 in the NV Grondbank The Loop. The Stedelijk Ontwikkelingsbedrijf (SOB - Municipal Development Company) of Gent has done the same.

Schoonmeers Bugten and the SOB respectively own 33.4% and 66.6% of the shares of Grondbank The Loop, which itself owns 45 ha of land. The Grondbank will equip and commercialize this land in the framework of the Public-Private partnership. In accordance with the Spatial Plan, this site allows for the phased development of 376,500 m² of offices, office like structures, retail, leisure and housing.

A first sale was also concluded with the signing of a contract for a parcel on which Ikea will establish a store.

Source: Banimmo

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