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HIB on an upward path

The Factory is progressing according to plan.
The Factory is progressing according to plan.

Housing Invest Belgium has revealed in its half yearly report that during the first part of the year (to June 30) there was an increase in the fair value of the real estate portfolio to € 636.05 million. Its investment properties available for rent consist, to the tune of 89.2%, of residential real estate and 66,2% of the investment properties available for rent are located in the Brussels Capital Region. Staying with the figures, the company saw an increase of rental income by 6.0% to € 13.18 million in the first half of 2020, from an average occupancy rate of 94.5%. HIB has also reported an increase in the EPRA earnings to € 6.23 million (compared to € 4.61 million in the first half of 2019).

Moving on to development activities, during the first half of the year HIB acquired a former office building, with an effective surface area of 4 880 m², located at 85-89 Rue Leon Theodor close to the place du Miroir, in Jette. Once the current lease agreements expire, HIB aims to reconvert the existing building into a residential project comprising around 35 residential units and a retail space on the ground floor. HIB plans to start the works in 2026.
Works on the Brunfaut site (‘The Factory’) in Molenbeek are progressing according to plan. The project is a residential complex of 93 apartments, 66 parking spaces and 1,443 m² of office space. The project is expected to be completed in the third quarter of 2020.

And at Laeken, The ‘Meyers-Hennau’ project comprises 37 apartments, 11 houses and 51 parking spaces. The constructive structural works have been completed and the exterior joinery of the building is in progress with its subsequent finishing. Completion is expected in the third quarter of 2021.

‘Marcel Thiry C2’ is a development project located in Woluwe-Saint-Lambert comprising 42 apartments. The structural works of the basements are in progress. The completion is expected in the first quarter of 2022.

Other activities include the Rue Jourdan in St. Gilles, where architects A2RC have been appointed and have developed a design for a residential project. The permit will be applied for in September this year.

Outside of Brussels, in Liège, the ‘Le Mosan’ project was delivered in the second quarter of 2020. The project, which was acquired in 2007, has been completely refurbished to 29 apartments in the centre of the city. The ‘Samberstraat’ project in Antwerp consists of the construction of 37 apartments, 1 office space, 39 parking spaces and 36 bicycle sheds. And in Namur a permit has been granted for the total renovation of the residential part of Galerie de l’Ange in Namur with a surface area 4 239 m². Altogether, 57 units are to be refurbished.
Tim Harrup
28-09-2020
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