KPMG reached an agreement with developer BPI Real Estate to acquire the Kronos building in Kirchberg and its 32,300m2 site and to develop its future 31,000m2 headquarters.
The project is therefore taking shape on the site where BGL BNP Paribas has had its historic headquarters since 1995. In its entirety, it includes the redevelopment of 55,658m2 of gross built-up area on the entire site, while preserving the existing park, a real green lung on the Kirchberg plateau.
KPMG will use 31,000m2, including a coworking space and a food court. The remaining 24,658m2 will be developed by BPI Real Estate alone and will be given a mixed-use.
"We do not limit ourselves to good intentions but make our ambition concrete. With this project, we can shape the working environment of tomorrow. Personally, I can't wait to see the new face of KPMG, a building designed entirely to meet the growing needs and expectations of our employees and clients. We want to create a modern, flexible and sustainable workplace that encourages connection, collaboration and innovation," said David Capocci, Managing Partner of KPMG.
This real estate project promises to be one of Luxembourg's most iconic buildings. In order to give it emblematic architecture, a European architecture competition will be organized in the second half of 2023 in collaboration with the Kirchberg Fund and the City of Luxembourg.
KPMG's headquarters will comply with the principles of the European Taxonomy and ESG standards and will have a load-bearing structure made of wood. Thus, it will become one of the largest timber frame buildings in the country. To meet that bold challenge, BPI Real Estate calls on the expertise of French developer WW2, which specializes in large-scale tertiary timber projects and is known as the largest low-carbon client in France.
Arnaud Regout, Managing Director of BPI Real Estate Luxembourg: "Like KPMG Luxembourg, we are committed to sustainability and innovation and are delighted to develop their future headquarters. This building meets all the requirements of our sustainable development strategy, so we will deliver a next-generation workplace that can stand the test of time."
The project strives for outstanding performance and will qualify for the BREEAM,® WELL Building Standard® and LCBI® (Low Carbon Building Initiative) certifications. It will thus meet the highest standards for sustainable and innovative construction, a value that closely aligns with KPMG's vision to be carbon neutral by 2030.
Beatrice Belorgey, Chairman of the Executive Committee of BGL BNP Paribas with responsibility for the entities of the BNP Paribas Group in Luxembourg: "BGL was already a pioneer in 1995 when it established its headquarters here on the Kirchberg plateau. In almost 30 years, the bank has experienced extraordinary highlights in this special place, such as the celebration of its centenary in 2019. Today we are writing a new page in the history of BGL BNP Paribas and looking to the future: our new headquarters will offer our employees an environment adapted to the new ways of working and meeting the highest standards of environment and well-being."
The demolition of Kronos will begin in early 2026, and the new project should be completed in 2029.
