REDEVCO delivers four development projects in Belgium (BE)

Redevco recently delivered four new projects in Belgium – in Flémalle (phase 1), Fléron, Mons-Ghlin (phase 1), and the first three retail units of the biggest project, the retail park in Drogenbos, close to the Brussels ring road. After refurbishment and expansion, the projects together will comprise more than 86,000 m² (71,000 m² prior to development). Redevco has invested a total of €25 million in these four projects.


The Drogenbos project is set to reopen in spring 2012.

Redevco Belgium's portfolio consists of some 350 properties, representing a total area of around 6,000,000 m² about one-third of which is built on. The portfolio offers strong development potential. Over the past decade, the Redevco team has redeveloped and completed a large number of projects.

Currently there are 23 projects in the pipeline, with a total area of some 150,000 m². Over the next few years these will be gradually developed and delivered. Redevco recently completed all or part of the following four projects:

After refurbishment, the Drogenbos project will offer some 28,500 m² an increase of 5,000 m². The units let to Brico, PointCarré, Luxus and SportsWorld have already been delivered. Dreamland will open its doors at the end of this year. The entire site is scheduled to reopen in spring 2012.

The Fléron project reopened in March 2011. The redevelopment yielded an extra 2,000 m², bringing the total area to over 20,000 m². The Carrefour unit was downsized, and new units created. These are now fully let, to Krëfel, Pizza Hut, Orchestra, Pro-Duo, Cassis and McDonald's.

Work on the first phase of the Flémalle complex consisted in reducing the Carrefour unit and creating a new unit for Krëfel. The second phase of the project has been underway since early May 2011. More than 90% of the units have been let, to Casa, Maxi Toys, Cassis-Paprika, Pronti and AVA-Papier. In the second phase, a new 3,500-m² unit will be built, for delivery in early 2012. Once this second phase has been completed, the complex will offer a total area of 21,000 m², an increase of 5,000 m².

The first phase of the Mons-Ghlin project was recently completed. It involved the construction of a new building on the site, which is now fully let to Colora, AVA-Papier, Zecchinon, Eldi, Lloydspharma, a new Lunch Garden store and some smaller retailers. In the project's second phase, the former Brico unit and shopping arcade will be converted to a new 13,000-m² Plan-it. Completion of this phase is scheduled for early 2012.


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