BPI (Group CFE), through its subsidiary CLI, acquired on July 9, 2015, in partnership, real estate assets held previously by Mavin Property Fund, a SICAV controlled by Breevast.

The acquired assets include:

• City of Luxembourg ‐ Route d'Esch 242‐248 (with an existing zoning plan ‐ PAP). A piece of land (and buildings to be demolished) of 16.255 m2 allowing, subject to ad hoc permits, the development of a residential, commercial and offices project of approximately 40,000 m2 above ground.
• The municipality of Differdange ‐ 18 Place des Allies. A plot of 3,863 m2 with a planning permit authorizing the construction of 50 apartments and retail space of around 2,350 m2 above ground.

This acquition shows BPI ability to find new development opportunities matching its ambitions on its national and international markets. The projected developments will become references of integration, sustainability and excellence, at the level of previous realisations of BPI as well as a showcase of its expertise, both in Luxembourg and in Belgium. Following suite of the projects successfully delivered and ongoing, this investissement represents a challenge which will strenghten and sustain CLI position on the Luxembourg market.

Contact Person :
Jacques Lefèvre*
Administrateur délégué – BPI
T. : +32 (0)2 663 60 10
jlefevre@bpisa.be