Banimmo to build office property in Ghent

Belgian listed property company Banimmo has been selected for the construction of an office building for the Flemish Environment Agency (VMM) in Ghent.

Participatiemaatschappij Vlaanderen (PMV) and VMM have chosen to build the new offices and laboratories of VMM on a plot of land of the site of the Loop in Ghent, which is held by the Loop public-private partnership between Stedelijk Ontwikkelingsbedrijf Stad Gent and Banimmo.

Banimmo will act as contracting party for the turnkey development of the almost 7,200 m² building.

The building will be a sustainable and functional hybrid building with laboratory and office areas that will meet the highest energy and environmental quality norms.

The project will be developed on the strategic site held by the Loop company, between the Flanders Expo buildings and the R4. The investment amounts to nearly EUR 22 mln. Construction is scheduled to start in December 2010, with the occupation of the building in December 2011.

This turnkey project represents the first step in the development of Field 5 East of the site. The Loop company is also working on the predevelopment of a mixed project consisting among other of offices, retail and leisure buildings of more than 100,000 m² on Field 12 of the same site.