Press release

BESIX RED & Immobel sell Cours Saint-Michel to the United States Government

14.12.22 - News - BESIX RED & Immobel sell Cours Saint-Michel to US State Department | BESIX RED

Brussels, December 14, 2022

Immobel (through a fully-owned subsidiary) & BESIX RED are proud to announce the closing of the sale of CSM Properties SA, holding the Cours Saint-Michel site in Etterbeek, Brussels to the United States Government. The strategically located project will allow the U.S. Embassy to the Kingdom of Belgium and the U.S. Mission to the European Union to consolidate its diplomatic representations in Brussels in a safe, secure, sustainable, and modern workplace.

The sale and purchase of 100% of the shares of CSM Properties SA, between the partners Immobel/ BESIX RED and the U.S. State Department, was officially completed on December 14, 2022. Immobel & BESIX RED have been trusted partners in the completion of this important decision to proceed to transaction.

A constructive cooperation between all parties involved

“Considering the diplomatic interests at stake, this has been a very transparent process, pursued through a constructive and positive collaboration”, stated Adel Yahia, Managing Director of Immobel Belgium.

The recent approval given by the United States Congress has led to the closing of the sale

Gabriel UZGEN, Chief Executive Officer of BESIX RED

Gabriel Uzgen, Chief Executive Officer of BESIX Real Estate Development : “The recent approval given by the United States Congress has led to the closing of the sale, paving the way for the development of this important new location for the U.S. diplomatic presence in Brussels.”

Court Saint-Michel in summary

Immobel and BESIX RED acquired the Cours Saint-Michel site in December 2018
Site surface: Approx. 4 hectares
Development surface: 100,000 m² built area
Location: Etterbeek, Brussels - walking distance from Mérode and Thieffry metro stations

About BESIX RED

BESIX RED is a pan-European real estate development company, operating in residential, office, retail & services properties. As a subsidiary of BESIX Group, the company is present in Belgium and in a growing number of foreign cities. With a concern to create sustainable buildings meeting its customers’ needs, societal and ecological components, as well as innovation, form an integral part of its effort to conceive the real estate of tomorrow.

For more information, please read Mission & Values

Press Contact BESIX RED

Lucie Cardona
Marketing & Communication Manager
+32 (0) 2 402 64 95
lucie.cardona@besixred.com

About IMMOBEL

Immobel is the largest listed real estate developer in Belgium. The Group, which dates back to 1863, creates high-quality, future-proof urban environments with a positive impact on the way people live, work and play, and specializes in mixed real estate. With a market capitalization of over EUR 650 million and a portfolio of more than 1,600,000 m² of project development in 7 countries (Belgium, Grand Duchy of Luxembourg, Poland, France, Spain, Germany, UK), Immobel occupies a leading position in the European real estate landscape. The group strives for sustainability in urban development. Furthermore, it uses part of its profits to support good causes in the areas of health, culture and social inclusion. Approximately 200 people work at Immobel.

For more information, please visit: www.immobelgroup.com