On the occasion of the MIPIM in Cannes, IVG Immobilien AG announced that the Madou Plaza project development in Brussels has been leased to the European Union for 27 years. The EU, with the European Culture and Information Policy Centre and the press department, will move into the 33-story building with its approximately 40,000 square metres. When it is completed, over 1,200 EU civil servants from 25 countries will occupy the building.
A particular delicatessen: with a little bit of luck, the EU will be using an award-winning property. In a selection process, the Madou Plaza has been placed on the short-list of three for the best international project development of last year. The MIPIM Award is to be presented in Cannes on 16 March 2006.
IVG Immobilien AG is a European real estate investment company that manages EUR 16 billion in its portfolio management, project development and investment fund business areas. Its investments focus on office and logistics real estate and business parks in Europe's key metropolises and growth centres. With an active buy-and-sell policy, IVG has been generating attractive yields and stable earnings for its shareholders for many years. For the 2005 financial year, IVG expects a group result of over EUR 100 million which should be again exceeded in the 2006 financial year.