Valad Property Group has acquired a 50% stake in an office development in Luxembourg in a joint venture with Valeres, a Belgian development company. Contern Business Park is located close to Luxembourg Airport. Valad and Valeres plan to develop the site with an eight building office scheme totaling 23,491 m².
Artist impression of Contern Business Park.
Each building will range from 2,500 to 3,000 m² over four stories with multi occupation layout possibilities. The buildings will be constructed in phases according to commercial viability and will have an end value in excess of