MIMCO Capital announces the acquisition of a major real estate operation on behalf of the "OCITY" fund, which focuses on the development of large-scale real estate projects in Luxembourg. Located in Sandweiler, to the east of Luxembourg City, the project will provide +17.000 sqm of residential, office and retail space.
The volume of the operation will develop more than 20 buildings representing a total of more than 100 housing units, social housing, offices and shops spread over more than 17.000 sqm. Although the acquisition was made for an amount of more than 48 Million euros, this project constitutes a global investment of more than 100 Million euros that will be deployed in two phases over a period of approximately 4 years.
"Located in the immediate area of the Kirchberg district and Luxembourg airport, the municipality of Sandweiler is surrounded by nature and is a real gateway to the capital's city center. The project will be developed at the entrance to the city, right next to a shopping area with all the essential amenities, including a bakery, pharmacy, restaurants, supermarkets, sports club, bank and clothing and shoe stores. Well-known brands such as Aldi, C&A, Chaussea, Spuerkess, Post, etc. are located here.", explains Christophe Nadal, co-founder and CEO of MIMCO Capital.
Laurent Olmedo, director of the CreaHaus group, adds: "The area in which the operation will be carried out is not only in direct proximity to all the amenities essential to daily life, but it also benefits from immediate accessibility to the city center of Luxembourg, 15 minutes away by car, thanks to modern infrastructure and easy access to the highways."
"With OCITY, our vocation is to have a responsible approach to our investments, which is why the construction of this complex in this high environmental quality municipality will incorporate the latest energy standards in order to provide its future users with an exceptional environment.", adds Frédéric Reichling, co-founder and director of Espace Invest.
This operation is being developed under the OCITY signature. By positioning itself primarily on the residential and office markets or on operations to be restructured, the OCITY brand carries out real estate development operations to meet the expectations of new urban uses and lifestyles, mainly in the center of Luxembourg and its suburbs, all with a responsible approach to its investments.
We would like to thank the entire team and our partners for this acquisition and the launch of this major project.