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New district to be developed in Luxembourg

Image: Capelli / DR
Image: Capelli / DR

A major new urban development has been announced for Luxembourg. The Capelli group has signed a memorandum of investment with Baltisse, the family investment fund of the Balcaen family, to construct a mixed use complex.

Located very close to the Gasperich district and therefore to the largest shopping centre in Luxembourg, and not far from the Cloche d’Or, the project will comprise around a hundred residential units, an apart-hotel, a crèche, co-working spaces and restaurants. It is intended to sell around 80% of the complex to institutional investors in blocks. In order to create a genuine living district and to contribute to urban transformation, the complex will also include public areas and circulation routes. Water features and planted areas will form part of this.

Jean-Pierre Lequeux, Director General of Capelli Luxembourg, explains: “Through this operation, the Capelli group is stating its ambitions and confirming its capacity to create innovative living zones and thus encourage the development and attractiveness of new districts. In line with the desire of the group to develop block sales, this real estate programme, ideally located in an ultra-connected district, possesses the potential and benefits required to attract institutional investors”.
Tim Harrup
22-07-2020
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