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Coliving on the rise in Brussels

The largest coliving project will see daylight in the Passage du Nord in Brussels
The largest coliving project will see daylight in the Passage du Nord in Brussels

Real estate developer Cohabs is preparing to carry out the largest coliving project to date in Belgium: 4,000 m² located in the magnificent Passage du Nord in Brussels. A 70-meter-long gallery which forms the liaison between the Rue Neuve and the Place de Brouckère. It represents an investment of 4 million Euros and will see 64 rooms divided into four shared apartments put on the rental market within two years. An unprecedented challenge for Cohabs because for the first time they will not own the premises but will rent them themselves via a 27-year long term lease.

Cohabs made a name for itself by buying buildings to furnish them and carefully decorate them in order to make trendy shared flats dedicated to young workers. In four years they have opened 550 rooms in which tenants stay between 6 months and 2 years.

A year ago, the founders of Cohabs, Youri Dauber and François Samyn, successfully raised 15 million Euros in funds. Among the new shareholders is AG Real Estate, which has placed its confidence in Cohabs and invested 5 million Euros. Today, Cohabs intends to raise 50 million Euros to continue their development. These funds would be mainly invested in the purchase of buildings with the objective of owning 1,000 rooms in Brussels and of starting other projects in Europe, primarily in Paris and Amsterdam.

Read more in the L’echo report [ De Bruxelles à New York, Cohabs investit pour jouer dans la cour des grands ]
Tim Harrup
28-09-2020
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