Press release

Brussels, Belval, January 26, 2023

ICÔNE, a new office development in Belval, has been completed following two and a half years of construction. Developed by BESIX Real Estate Development and designed by internationally renowned architects Foster + Partners and the Luxembourg-based architects BFF..., the 18,800 m² office building provides a unique living and working experience. With the shares of the office being sold to AG Real Estate and a 15-year lease signed with Société Générale Luxembourg before completion, the innovative concept has already proved to be a success.

Located in Belval in the Grand Duchy of Luxembourg, ICÔNE is the latest office development of BESIX RED. Lying at the heart of the major cross-border hub in the centre of Europe, ICÔNE complements the strategically located Belval-district, the large-scale redevelopment zone the result of the reconversion of industrial wasteland. The building’s prime location makes it accessible from nearby train stations, the airport and several major highways.

A pioneering concept, fostering connectivity and wellbeing

Ever since its conceptualization four years ago, ICÔNE has been designed to enhance collaboration and employee wellbeing, while integrating the New Way of Working. The scheme features classic offices, co- working spaces as well as flexible areas allowing for the changing presence of teleworkers and digital nomads. ICÔNE’s bright, open atrium and various collective spaces such as the interior and exterior terraces, informal meeting areas and breakout rooms, nurture the human and collective spirit of the concept. The complex also offers an additional 1,500 m² restaurants and shops.

Sustainability and smart technology as the linchpins of the project

ICÔNE’s collaborative features are complemented by integrated state-of-the-art technology and services. Employees benefit from a smart building featuring intelligent elevators, Wi-Fi terminals in the atrium and ventilation control via CO-sensors. There is also the option to install license plate recognition, lighting and temperature management. At basement level, a gym, a car park for 237 cars – including electric car chargers – and bicycle storage is available for the building’s occupants.

The building will be BREEAM ‘Excellent’ and inspired by the Well Building Standard®.

Geoffroy Bertrand, Country Director Luxembourg of BESIX RED said: “As a forerunner in this field, ICÔNE is a ‘smart building’ dedicated to the wellbeing of its occupants. We have designed office space that encourages interactivity, creativity and performance, while adapting to the environmental requirements of tomorrow”.

Forward-thinking architectural design

ICÔNE was designed from the inside to the outside and is centred on the wellbeing of its occupants. Wrapped in a glass façade and covered by a large glass roof, the building is bathed in natural light. The atrium – the heart of the building – connects the offices’ two wings.

Darron Haylock, Partner, Foster + Partners, said: “We are delighted to celebrate the opening of this landmark project for Belval, which we began designing in 2016, well before the pandemic began. Covid has highlighted the need for healthier and more flexible urban workspaces, which is exactly what this project provides. The light-filled central atrium is the beating heart of the complex, promoting collaboration and enhancing employee wellbeing.”

Tom Beiler, BFF..., continues: “As the architect of the renovation of the ‘Hauts Fourneaux’, we had already worked on the preservation of the place’s soul and fulfilled history. It was a great honor and pleasure to participate in the creation of this unique building that integrates this beacon of history, the ‘Haut Fourneau B.’. During this exceptional and respectful collaboration with Foster + Partners, we were able to create a building with a pared-down design that embodies the industrial aesthetic to create a bright, transparent, and relevant space.”

Success with investors and occupants

“When reality surpasses the design of a project, a developer might claim that a project has been successful. If, on top of that, all ESG-elements have been pushed to their greatest extremes and correspond to the current needs of the real estate market, it’s a double success. The fact that ICÔNE meets the expectations of a well- established investor like AG Real Estate and is in line with the demands of a tenant like Société Générale Luxembourg, who chose our project to regroup all of its employees from multiple offices at one location, demonstrates that ICÔNE is a reference in terms of post-covid work experience”, comments Gabriel Uzgen, CEO BESIX RED.

“By joining forces with a renowned architect like Foster + Partners and leveraging on the
in-house multidisciplinary expertise of BESIX for the construction of ICÔNE, we were able to turn our vision into reality”, he concludes.

BESIX RED concluded the sale of ICÔNE with AG Real Estate in March 2022, which, on behalf of its parent company AG Real Insurance, acquired 100% of the shares of the building’s owner, B-9 SA. In April 2021, Société Générale Luxembourg signed a 15-year lease.

Amaury de Crombrugghe, CIO AG Real Estate says: «The stability of the Luxembourg real estate market and its propensity to face up to the many socio-economic challenges of the present day make it an undeniably attractive market. ICÔNE is a building that appealed to us for its architectural, technical and environmental qualities. It is ideally located in a lively neighbourhood that meets current criteria for mobility, diversity and the calming effect of green spaces. All these assets convinced our future occupants to commit to a 15-year lease. We are delighted to have been able to acquire a successful development that will guarantee the quality of the portfolio under AG Real Estate’s management over the long term.”

Arnaud Jacquemin, CEO Société Générale Luxembourg concludes: «By choosing Belval, a fast-growing technology park strategically promoted by the Grand Duchy since the early 2000s, SG Luxembourg is proud to support the country’s development. Our move to ICÔNE enables us to concretely pursue our policy as a responsible company by rationalizing our real estate footprint and pursuing an economic, social and solidarity- based policy. The current digital and social transition is fostering a revolution of working relationships which concretely translates in the offices setup. SG Luxembourg chose ICÔNE for the stimulating work environment it offers with the very high-end layout it provides for our teams, providing well-being and efficiency, while leaving plenty of room for collective work.”

FACT SHEET

ICÔNE, Belval, Luxembourg

Area: 18,747 m² of GLA (17,303 m² of office space and 1,444 m² of retail & restaurant space, plus 680 m² of archives and 237 parking spaces)
Architects: Foster + Partners and BFF...
Certification: BREEAM ‘Excellent’
Building delivery: January 2023
Client-occupant: Société Générale Luxembourg
Contractors: BESIX GROUP (BESIX and LUX TP)

About BESIX RED