The main highlights of the Belgian group Atenor’s activity in the first three months of 2025 are related to the acquisition of the Oriente project (9,500 sqm) in Lisbon in partnership with two investors and the sale of BakerStreet I in Budapest (over 18,000 sqm), in line with the group’s strategy of gradually reducing its exposure to the office market in Central Europe.

 

Additionally, the signing of the first management contract for the Com'Unity project in Paris demonstrates a recovery in the office building market in the Paris region. This agreement, concluded with International Workplace Group (IWG) – the world’s leading provider of hybrid working solutions – will enable the opening of a 1,200 sqm space under the Regus brand in September 2025.

 

It is also worth noting that during the same period, Atenor submitted permit applications for the Kyklos project in Luxembourg (approximately 3,900 sqm), while simultaneously advancing preparatory work and reassessing several key conversion projects. For example, in Hungary and Belgium, a strategic decision was made to convert 100,000 sqm of previously planned office space (Beaulieu, Olympia B & C, and BakerStreet II) into residential projects.

 

Currently, construction is ongoing for the WellBe project (Portugal), and development continues on the Realex Conference Centre project (Belgium). In addition, foundation work has begun on the Campus project (formerly known as Cloche d'Or, Luxembourg) – with delivery expected in Q2 2027.

 

Progress has also been made on residential projects, with 35 apartments sold in the Lake 11 Home & Park development (Hungary) during the first half of the year. The UP-site project (Romania) is also nearing completion.

 

Atenor officials also announced the completion of a capital increase of €45.3 million through an accelerated private placement at an issue price of €2.62 per share. This capital strengthening improves the company’s balance sheet and provides increased financial flexibility to support the execution of its three-year strategic plan, particularly in the context of ongoing asset disposals and refinancing efforts in a challenging market environment.

 

Source: agendaconstructiilor.ro