Uplace to create city-within-a-city in Brussels

Uplace, a new real estate company, said its launch project will involve the redevelopment of a derelict post-industrial site in Machelen, at the Vilvoorde viaduct of the Brussels beltway. Company founder Bart Verhaeghe said the project will create a city-within-a-city in the Belgian capital that will bring the Brussels-North region (Noordrand) back to life. He said the region's appeal will extend far beyond Belgium's borders.

The project covers a total 190,000 m2, broken down into 25% office space, 25% public space, 25% 'experience' shopping, 15% entertainment and culture and 10% hotel space.

Verhaeghe was part of the team that created Belgian-based European logistics property developer Eurinpro, which was acquired by Australia's Goodman Group in 2006. Verhaeghe said that like Eurinpro, Uplace was based on a a proven methodology. 'I consistently use the same approach: find a new niche in real estate and steadily develop it internationally. This involves a research-based approach, listening to the market, complete vertical integration, innovation and, most importantly, bringing together a team of dedicated top professionals with different backgrounds around a shared vision.'

Verhaeghe said Uplace's mission was to create 'the all-in-one place to be, blending working, living, shopping and relaxing seamlessly. The Uplace concept is the result of two years of in-depth research with partners such as Columbia Business School in New York, McKinsey and Company, the Vlerick School, Tuck Business School, Saatchi & Saatchi, Benoy, Synovate Censydiam, Arcadis, Linklaters and Ernst & Young.

This research, Verhaeghe said, clearly showed two significant consumer trends: increased time pressure and the importance of experiences. 'We all want to be a good parent, partner and professional, up-to-date on the latest trends. We want to make time for sports, cultural activities and friends. The challenge is meeting all those priorities within the limited free time we have available. That is why the functional separation of real estate (e.g. building only offices on one site and only housing on another) is no longer an option in mature markets.'

Uplace has started its international roll-out and presented its concept to 60 European cities. Att end-June, the company will prioritise 10 cities. Candidates for the shortlist include Helsinki, Stockholm, Copenhagen, Berlin, Vienna, Prague, Paris, Milan and Madrid, the company said.