Brussels' urban core undergoing a major transformation
Brussels' city center is rapidly evolving into a dynamic hub for businesses, driven by significant investments in mixed-use real estate projects. Major developers are reimagining the urban landscape, creating modern office spaces, vibrant commercial areas, and inviting residential offerings. This revitalization aims to establish a pulsating heart for the European capital, attracting both companies and residents alike.
Immobel spearheads key developments
Leading the charge in this urban renewal is Immobel, a prominent real estate developer that has invested approximately 900 million euros in acquiring and developing ambitious projects. Their vision is to create integrated urban environments that cater to the diverse needs of modern businesses.
Brouck’R: a new landmark for business and life
By 2027, the Brouck’R project in Brussels will be a testament to this vision. It will feature approximately 11,000 m2 of state-of-the-art office space, already acquired by the National Lottery, alongside 170 apartments, 130 student studios, a serene interior garden, and a dozen commercial units. Despite premium pricing between 5,000 and 6,000 euros per square meter, the commercialization of Brouck’R is off to a successful start, highlighting strong market confidence in the city center’s appeal.
OXY: modern offices and integrated urban living
Immobel is also at the helm of the OXY project, a comprehensive renovation of the former Centre Monnaie. Set to be completed by the end of 2026, OXY will offer approximately 43,000 m2 of modern office space, with 85% already leased to Engie. This project remarkably preserves 90% of the existing structure while integrating new functionalities, including a public promenade. Facing the Place de la Monnaie, OXY will further enhance the area with a hotel featuring a rooftop, an aparthotel, and 112 apartments that sold out within just five months at an average price of 5,000 euros per square meter.
Multi complex: a thriving business ecosystem
Further cementing Brussels' reputation as a prime business destination, the Multi complex (formerly the Philips tower), where Immobel has also established its headquarters, boasts 100% occupancy. This impressive roster of tenants includes industry giants such as Total Energie, Bpost, and the Bank of New York Mellon, showcasing the area's attractiveness for major corporations.
Strategic location and unmatched accessibility
A key advantage of these developments is their unparalleled accessibility. Located in Brussels' bustling city center and pedestrian zone, these projects are strategically positioned near major transport hubs, including the Central and North train stations and various metro lines. This ensures seamless connectivity for employees and clients alike, making them ideal locations for businesses seeking convenience and efficiency.
Beyond Immobel: expanding opportunities
The revitalization extends beyond Immobel's projects. Other significant players, such as VDD Project Development and Vervoort r.e., are also investing in the pedestrian zone. Their conversion of the former Actiris building into "The Dome" will introduce another mixed-use project featuring rental residential units, offices, restaurants, and retail spaces, including the popular Eataly. These diverse developments collectively contribute to a vibrant and comprehensive urban environment.
A vibrant ecosystem for businesses
The strong interest in city center real estate, particularly for office spaces, underscores a positive outlook for Brussels. The pre-leases by major companies like the National Lottery and Engie for Brouck’R and OXY, respectively, confirm the high demand. Local businesses, like Maxime Grell of the Boemvol brasserie, welcome these developments, recognizing their potential to draw more people and economic activity to the area, creating a thriving ecosystem for all.
Future enhancements to the pedestrian zone
To further enhance safety and pedestrian experience, discussions are underway to potentially restrict bicycle and scooter traffic in certain sections of Brussels' pedestrian zone starting in 2026, with alternative routes planned. This initiative aims to create an even more enjoyable and secure environment for residents and businesses within the heart of the city.
Source: lesoir.be
