Press release

Brussels, Belval, March 10, 2022

BESIX RED Luxembourg and AG Real Estate, on behalf of its parent company AG Insurance, announce that they have finalized the signature of the contract for the acquisition by AG Insurance of 100% of the shares of the company B-9 S.A., owner of the office building ICÔNE in Belval, Luxembourg. The parties thus formalize their agreements reached at the end of 2021.

This emblematic and sustainable office project is already fully occupied, even before its delivery, by Société Générale Luxembourg. A 15-year lease was signed in April 2021 and the financial services group will take possession of their new workspaces upon delivery, in January 2023.

«We are very proud that the ICÔNE concept has been able to appeal to a major player such as Société Générale, and to meet the expectations of a renowned investor like AG Real Estate. Both have identified the importance of new ways of working and the well-being and comfort of users», explains Gabriel UZGEN, CEO BESIX RED.

The office building will have an approximate surface of 18,750 m² GLA and is defined as a real living space. Conceived as a reference in terms of the post-COVID work experience, this complex redefines office real estate.

Designed in collaboration with the internationally renowned architect Foster + Partners and the Luxembourgish office Beiler François Fritsch, this office building not only stands out for its architectural and technical qualities but also for its pioneering concept. From its conception four years ago, ICÔNE was conceived as a collaborative building, centered on the users and their well-being. In addition to the so-called «classic» offices, various spaces are dedicated to co-working or to certain forms of «nomadism» and are no longer dedicated to specific activities or users, thus in line with the New Ways of Working.

ICÔNE will be certified BREEAM «Excellent» and is inspired by the “WELL” approach.

Tatiana Posa, Head of Transactions at AG Real Estate, confirms: “This acquisition fits perfectly within AG Real Estate’s investment and diversification strategy. The Luxembourg real estate market offers growing investment opportunities with positive economic indicators. ICÔNE has won us over with its many qualities, whether environmental, architectural or from the point of view of the end-user. We are delighted with the fluidity of the exchanges between the parties involved in this transaction and thank the BESIX RED teams for their excellent collaboration.”

“This agreement marks a new milestone in the recognition of our know-how and our involvement in the Luxembourgish market. It illustrates, once again, the competitive position of BESIX RED Luxembourg and our ability to propose ambitious, high quality and strategically located developments”, concludes Geoffroy BERTRAND, Country Director BESIX RED Luxembourg.

AG Real Estate and BESIX RED were assisted in this transaction by Loyens & Loeff and Arendt respectively.
The broker CBRE also represented AG Real Estate.

Characteristics of the project

ICÔNE, Belval, Luxembourg

• Surface area: 18,750 m² GLA (17,300 m² of offices and 1,450 m² of shops & restaurants, plus 680 m² of archives and 237 parking spaces)
• Architects: Foster + Partners and Beiler François Fritsch
• Certification: BREEAM «Excellent»
• Building handover: January 2023
• Client-occupier: Société Générale Luxembourg
• Contractors: BESIX GROUP (BESIX and LUX TP)

For more information: www.iconeoffices.lu

About BESIX RED

About AG Real Estate