AGORA – AGORA presents positive annual balance for 2020/21
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AGORA presents positive annual balance for 2020/21

26.07.21

Groundbreaking developments in Belval and Esch-Schifflange despite Covid crisis

Sixteen years after the opening of the Rockhal and five years after the start of the first semester at Belval, the quarter is now on the home straight. Eighty-four percent of the total building area has now been marketed. The private building plots on the blast furnace terrace and in the Belval Nord residential quarter have all been sold. Meanwhile, current developments focus on the future residential district of Belval Süd and the Square Mile area, and in particular on the central axis, the Central Square.

Last year, around 41,000 m² of space were marketed here. 
Belval's user numbers also continued to rise in the past financial year. At the end of 2020, the quarter had around 20,000 daily users, including around 10,000 employees and 5,700 students, researchers and academic staff. Some 3,600 people now call Belval their new home. Roughly 250 companies, institutions and businesses are based in Belval. 

With 268,000 m² of office space, Belval was again able to maintain its fifth place among the country's office locations last year. Despite the difficult conditions resulting from the Covid crisis, the vacancy rate fell further from 4.1% in the 2019/2020 financial year to 1.1%.

Residential construction in Belval continues to record a pleasing development. Last year, around 100 new residential units in the Capelli Towers were handed over to their new occupants. So at the end of 2020, Belval had a total of 1,124 residential units. In addition, there are 668 apartments for students and 120 residential units for senior citizens in the CIPA. A further 1,000 residential units are currently being planned or built.

Parallel to its activities in Belval, Agora also completed the preliminary investigations and feasibility study for an urban development project on the site of the former Esch-Schifflange steelworks in the past financial year. On 23 October 2020, Agora was entrusted by the Luxembourg government, ArcelorMittal and the municipalities of Esch-sur-Alzette and Schifflange with the reconversion of the 61-hectare site. The marketing of the first plots is planned for 2025. Further investigations required under current legislation are currently being carried out, such as in-depth studies of the mobility concept and of the biotope assessment. Initial security and maintenance measures are being carried out on buildings and structures that are to be preserved, and preparations are underway for the final land transfer from the current owners to Agora. These should be completed in the coming months. In addition, the corresponding amendments to the General Development Plan (PAG) are also being planned for this area. 

Further information can be found in the current Agora press release (only available in German)