Ghent, Belgium – 29.04.2024 – Alides, the Belgian real estate developer and investor, continues its expansion in the heart of Brussels Central Business District with the acquisition of the company holding the rights on the building Science 11. This strategic investment builds on the existing collaboration between Alides and Cityforward and further establishes Alides as a key player in high-quality office space in prime locations.
Commitment to ‘Real Estate Upcycling’
Cityforward is a real estate fund, established between FPIM (Federale Participatie- en Investeringsmaatschappij) and Ethias, managed by the fund manager Whitewood. Aligning with Alides’ “Real Estate Upcycling” strategy, Cityforward plans to redevelop 21 outdated buildings of the European Commission into a sustainable urban district according to ESG principles. Cityforward and Alides already acquired the IT tower on Avenue Louise.
Acquisition of “Another AAA-location”
Located at the corner of rue Belliard and rue de la Science, the office building Science 11 accounts for a total above-ground area of around 9.000 m² with four underground levels and is situated adjacent to the Montoyer 34 building that is currently being redeveloped by Alides with ample synergies for the future between both buildings. The transaction allows an immediate start of the redevelopment process initiated by Cityforward, transforming the Science 11 building into a sustainable office building of the highest quality. Alides aims to preserve the existing building structure while enhancing its functionality and environmental performance.
CEO perspective on Sustainable Development
Rikkert Leeman, CEO of Alides, states, “This project perfectly embodies the vision and strategy of Alides. Rue de la Science 11 presents a unique opportunity to showcase our commitment to sustainable development. Through a comprehensive circular renovation using cutting-edge techniques, we’ll breathe new life into the building while minimizing its environmental footprint. Ultimately, this project will not only leave a lasting positive impact on the character of the European Quarter, but also contribute to the European Green Deal’s ambitious sustainability goals.”
Expanding Portfolio in Brussels’ Core
The strategic location of Science 11 adjacent to Alides’ state-of-the-art office project, Montoyer 34, which will be occupied by the European Commission for 18 years upon its delivery makes this acquisition a logical step for Alides.
Other Alides projects in the immediate vicinity include:
- Copernicus, fully commercialized to the European Commission
- Joseph II – 12, recently delivered and handed over to the Slovenian Embassy
- Commerce 44, a highly sustainable redevelopment project scheduled for completion by the end of 2025
About Alides
Alides is a renowned international investor and developer specializing in office and residential real estate, with a strong presence in prime urban locations in Belgium, Poland, and Luxembourg. Its mission as ” Your Partner in Real Estate” ” stems from the family roots of the Ghent-based Maes Group (founded in 1892) and is translated into a “Real Estate Upcycling” strategy with a focus on quality, sustainability, and innovation.
