Plans to move Heysel stadium boosts Neo Brussels project

The Neo mixed-use project in Brussels will receive a major boost from plans announced last weekend to move the Heysel football stadium to another site, according to the city’s mayor Freddy Thielemans.

Speaking at the European Real Estate Policy and Investment Forum hosted by PropertyEU at the Realty real estate fair in Brussels on Wednesday, Thielemans said the decision ‘changes the whole project’.

The Heysel stadium is currently located in the middle of the 15 hectare site - le Plateau du Heyzel - where Neo Brussels is set to arise, Thielemans explained. It will now be possible to create a large entertainment centre with sports, leisure and conference facilities, he said. ‘We will have more green after the project is developed than we have now. This will make it all possible as a matter of fact.’

During his introductory address, Thielemans pointed out that Brussels currently does not have facilities to host major international conferences for more than 1,000-1,200 visitors. Thanks to the plans to move the Heysel stadium, Neo Brussels will be able to accommodate an entertainment hall for 15,000 visitors and conference facilities for 12,000 delegates. ‘New hotels will also be needed on the site,’ he noted. At present, the site boasts just one three-star hotel, he added. ‘For some reason, CEOs seem to prefer to stay in five-star hotels,’ he joked.

In December last year, the authorities in Brussels shortlisted three candidate groups following the initial stage in the tender process for the 300,000 m2 mixed-use Neo development project. The candidate combines are UK REIT Hammerson, Soficom Development and Codic; French listed retail specialist Klepierre, AG Real Estate and Wereldhave Belgium; and European listed property giant Unibail-Rodamco, CFE and Besix.

The three groups are now in the process of detailing their proposals to the city and regional authorities, Thielemans said. The tender for the first phase of the project covers the shopping centre, leisure facilities, housing, offices and car parks. Construction is slated to begin in 2014.

‘It is a very demanding affair to develop a completely new borough within the city,' Thielemans said. 'It is very audacious, but the project has won the three biggest possible contenders in the world. We’re very proud of that. It shows that the project is believable and livable, and that it is attracting attention.'

In terms of investment, the project is not really a novelty, but the competitive dialogue which the authorities are currently engaged in with the three contenders is, Thielemans said. 'It's something new which has never been done before. This is a much more dynamic process and means we have the opportunity not to stick too closely to the theoretical part of the project. By discussing through dialogue, we are able to come to the best possible solutions. We’re very happy with that.’