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Ceusters buys Devimo Consult

There has been a substantial consolidation in the shopping centre management world in Belgium. The Hugo Ceusters group, based in Antwerp, has taken over Brussels-based Devimo Consult, a subsidiary of AG Real Estate. The new enterprise will be market leader in Belgium by some considerable margin, in terms of shopping centre management.

The Hugo Ceusters-SCMS group already had 12 shopping centres under management, notably including Wijnegem, the Grands Prés (Mons) and K in Kortrijk. With the acquisition of Devimo, other major centres join the portfolio, including Waasland, the Galerie du Toison d’Or and the latest addition to Belgium’s shopping centre stock: Rive Gauche in Charleroi.

Along with the shopping centres come a number of other activities parks and shops. When the deal is finalized next month, the existing two operations will nevertheless continue to function autonomously. Among personnel changes, Devimo Consult CEO Pierre-Yves Bolus has just left the company, to be succeeded by Micheline De Munck, formerly of CBRE.

AG Real Estate will continue to be very active in retail, however, and will retain, for example, City 2, Westland, The Mint, Gent Zuid and Galeries St.-Lambert Liège).

Only just open, and Rive Gauche is already 'under new management'.
Only just open, and Rive Gauche is already 'under new management'.

| 12/04/2017

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